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Louella Desiderio - The Philippine Star
February 13, 2026 | 12:00am
In a statement, SteelAsia said its sustainable finance framework was rated the best and only one in the region after receiving a “very good” SQS2 rating, the second highest level on Moody’s sustainability quality scale.
BusinessWorld / File
MANILA, Philippines — SteelAsia Manufacturing Corp., the country’s largest steel manufacturer, received the highest grade in the region from Moody’s Ratings for its push for sustainable finance and decarbonization measures.
In a statement, SteelAsia said its sustainable finance framework was rated the best and only one in the region after receiving a “very good” SQS2 rating, the second highest level on Moody’s sustainability quality scale.
Moody’s gave the rating following its second party opinion of SteelAsia’s sustainable finance framework.
“This rating from Moody’s validates SteelAsia’s strategy to build a globally competitive, low-carbon steel industry in the Philippines,” SteelAsia CEO Benjamin Yao said.
“And as we build the country’s mother of all industries, we also want to show that responsible industrialization, green initiative and economic growth can go hand in hand,” he said.
SteelAsia has integrated sustainability practices in its operations.
In particular, the steel manufacturer is utilizing the most modern and efficient production equipment and renewable energy to support operations.
It is also recycling rain water in its new plants to help protect the environment.
SteelAsia’s decarbonization strategy is anchored on recycling-based steelmaking powered by renewable energy.
To reduce the country’s reliance on steel imports, SteelAsia is building three million metric tons per year of new green steel capacity.
The country’s steel imports are produced with a large carbon footprint.
ING advised SteelAsia on the design and alignment of its framework.
Meanwhile, DNV of Norway verified SteelAsia’s Calaca plant’s carbon footprint at nearly 90 percent lower than the global average for traditional steelmaking, making it among the greenest steel companies in the world.
