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  • 27 Aug 2021
  • ·
  • Sustainability

MSCI improves Cellnex ESG rating


  • The Company moves up from ‘BBB’ to ‘A’, in line with the positive trend of recent years. Cellnex is now at the top of the group of companies assessed by MSCI.
  • Cellnex obtains the highest rating (10 out of 10) in the Environmental dimension, and is acknowledged as an industry leader in Corporate Governance.


Barcelona, 27 August 2021. Cellnex Telecom has improved its MSCI ESG rating, moving up from ‘BBB’ to ‘A’ and continuing with the positive trend displayed in previous years. For the fourth year in a row, Cellnex has been included in the rating that MSCI prepares in order to measure the performance of the main global companies in terms of exposure to specific Environmental, Social and Good Governance (ESG) risks in the sector and how well they manage those risks relative to peers.

In the 2021 MSCI ESG Ratings assessment, the company stands out for its leadership in Corporate Governance within the telecommunications services sector. Cellnex is in the highest range in relation to its global peers in aspects related to this field, scoring 8.2 out of 10, marking a year-on-year improvement of 1.8 points. Specifically, MSCI positively values the improvements in the structure of the company’s board of directors, which largely underpin the improvement in the Governance dimension. Likewise, the assessment also positively highlights the degree of independence and diversity of Cellnex’s Board of Directors, which currently comprises 73% independent members and 45% female directors, which MSCI consider can contribute to improving independence and diversity during the Board’s deliberations.

For the Environmental dimension, MSCI ESG Ratings awarded 10 out of 10 for company practices related to environmental management throughout its value chain to address the reduction of carbon emissions, including the objectives set to reduce these.   

About MSCI ESG Ratings

MSCI ESG Research provides MSCI ESG ratings on global listed companies, and some unlisted companies, on a scale from AAA (leader) to CCC (laggard), based on exposure to industry-specific ESG  risks and how well they manage those risks relative to peers.

Learn more about MSCI ESG ratings.

About Cellnex Telecom

The cost-efficient provision of state-of-the-art connectivity is fundamental to driving technological innovation and accelerating inclusive economic growth. Cellnex Telecom is a leading provider of neutral wireless telecommunications and broadcast infrastructure, enabling operators to access Europe’s most extensive network of advanced telecoms infrastructure under sharing arrangements so helping lower barriers for new entrants and improve services to more remote communities.

Cellnex operates a portfolio of around 130,000 sites -including planned rollouts until 2030-, across Spain, Italy, Netherlands, France, Switzerland, the UK, Ireland, Portugal, Austria, Denmark, Sweden and Poland.

The business is structured in four major areas: telecommunications infrastructure services; audiovisual broadcasting networks, security and emergency service networks and solutions for smart urban infrastructure and services management (Smart cities and the “Internet of Things” (IoT)).

The company is listed on the continuous market of the Spanish stock exchange and is part of the selective IBEX 35 and EuroStoxx 600 indices. It is also included in the main sustainability indexes notably CDP (Carbon Disclosure Project), Sustainalytics, FTSE4GOOD, MSCI and Standard Ethics. Cellnex’s reference shareholders include GIC, Edizione, Canada Pension Plan, CriteriaCaixa, Wellington Management Group, Capital Group, Blackrock, Fidelity and Norges Bank.

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