Male’, Maldives, 21st February 2024 – Capital A has achieved top rankings in global sustainability assessments following a successful overhaul of its sustainability strategy, with a focus on addressing climate risks and enhancing stakeholder communication. This transformation has garnered significant recognition for the company, affirming its commitment to sustainability and environmental responsibility.
One notable accolade is AirAsia’s GOLD Environmental Sustainability rating from the Centre for Aviation in the 2023 CAPA-Envest Global Airline Sustainability Benchmarking Report. This prestigious recognition reflects AirAsia’s remarkable recovery in efficiency and environmental performance post-pandemic, with the airline delivering impressive results in CO2 emissions per passenger and per seat compared to its global counterparts.
Additionally, Capital A has been ranked 15th out of 124 airlines by the London Stock Exchange Group’s ESG scoring, highlighting its strong performance across various sustainability themes. Notably, AirAsia’s score of 71% is the highest among ASEAN-based carriers, positioning it as one of the top-performing global low-cost carriers.
These achievements further solidify Capital A’s standing in ESG assessments, with the company’s ESG score rising to 3.2 in Malaysia and Asia Aviation’s ratings soaring to 81% in Thailand. Internationally, Capital A earned a commendable score of 40% in the S&P Global Corporate Sustainability Assessment, demonstrating its commitment to ESG leadership.
Furthermore, Capital A’s dedication to gender equality and social performance has been recognized through its submission to the Bloomberg Gender Equality Index, surpassing inclusion thresholds and showcasing its efforts to increase female representation in various roles, including pilot positions.
Chief Sustainability Officer Yap Mun Ching emphasized the company’s dual strategy of managing ESG risks effectively and enhancing communication with stakeholders. This approach has garnered positive feedback from stakeholders and analysts, with Maybank IB Research maintaining a BUY call for Capital A shares due to its commendable long-term ESG targets and transparent reporting practices.
Looking ahead, Capital A and Asia Aviation are set to publish standalone sustainability reports to further strengthen communication of their ESG priorities and strategies. With a focus on continued improvement and transparency, Capital A is poised to further enhance its sustainability efforts as AirAsia returns to full fleet operations in 2024.
