25 May, 2025
Tanmiah Food Company Secures “BBB” MSCI ESG Rating Upgrade – Second Year of Continued Progress
Riyadh, May 25, 2025 – Tanmiah Food Company (“Tanmiah” or the “Company”, 2281 on the Saudi Exchange), one of the Middle East's leading providers of fresh poultry, processed proteins, animal feed, health products, and restaurants operator, today announced its second consecutive upgrade in the MSCI ESG Ratings - achieving a “BBB” rating in 2025, up from “BB” in 2024 and “B” in 2023 for the Food Products Industry ESG Rating model. This recognition underscores the Company’s ongoing commitment to environmental, social, and governance (ESG) excellence.
Effective May 15, 2025, this upgraded rating positions Tanmiah among a select group of companies within the global food industry recognized for their commitment to sustainable and responsible business operations.
Key highlights from Tanmiah’s upgraded MSCI ESG Rating include:
Strengthening Governance for Long-Term Value
Tanmiah was recognized for its enhanced corporate governance practices, most notably through the establishment of a majority-independent board, strengthening strategic oversight and reinforcing the protection of shareholder interests. In a landmark achievement, Tanmiah’s board now features the highest female representation (40% of the board) among all companies listed on the Saudi Exchange – setting a new national benchmark for board diversity and inclusion. This surpasses MSCI’s leading recommendation of 30% female representation. Further affirming its commitment to transparency, Tanmiah issued the poultry sector’s first externally assured sustainability report in the Kingdom, verified by a Big Four audit firm. Tanmiah will strive to maintain this level of rigor by continually producing independently validated ESG disclosures, fostering enduring trust with stakeholders and exemplifying best-in-class accountability in the region.
Leadership in Social Responsibility
Tanmiah is currently among the highest-rated companies in food quality, standing on par with global industry leaders according to MSCI assessment criteria. This distinction reflects the exceptional standards of both its animal feed and finished products. The Company earned positive recognition for its focus on product safety and quality. With improved quality management systems that exceed industry standards and the attainment of ISO 45001 certification at major facilities, Tanmiah continues to prioritize the health and safety of both consumers and colleagues. The Company was also recognized for its innovative product offerings, such as the “Taste Secret” range, curated to meet the nutritional needs and portion preferences of different households.
Environmental Responsibility in Focus
Operating in a sector with inherent environmental challenges—such as water stress and carbon intensity— Tanmiah is actively addressing environmental risks through targeted resource efficiency programs. Leveraging its Environment Management System (EMS), the Company has become more responsible in managing waste and capturing carbon emissions data. Our One Million Tree Initiative, which recycles wastewater from our facilities for plantation, is another testament to our efforts toward protecting the environment. These ongoing efforts align with Saudi Vision 2030, reinforcing Tanmiah’s long-term commitment to sustainable growth and responsible production practices.
Hawazen Nazieh Nassief, Board Member and Chairperson of the ESG Committee, commented:
Tanmiah’s improved sustainability performance is the result of a successful integration of sustainability into the Company’s strategy and a strong cross-functional collaboration over the years. Not only does this enhance our resilience and competitiveness, but it also strengthens Tanmiah’s alignment with Saudi Arabia’s Vision 2030.
Zulfiqar Hamadani, CEO of Tanmiah Group, added:
“This rating upgrade reflects our unwavering commitment to responsible growth, transparency, and sustainability. It is also a testament to the active role of our Board of Directors and the continued trust and engagement of our shareholders, whose governance oversight and strategic support have been instrumental in driving the improvements recognized by MSCI.
Our progress is further enabled by innovation across our value chain, which supports more efficient, ethical, and forward-looking operations. Together, we are setting higher standards across the industry while delivering long-term value for all stakeholders.”
Tanmiah’s journey from B to BBB in just three years signals its position as a forward-thinking, ESG-conscious organization, continuously raising the bar across all facets of its operations. This rating upgrade reflects Tanmiah’s active contribution to Saudi Arabia’s Vision 2030 and its net-zero ambition by 2060, through ongoing efforts to reduce environmental impact and advance sustainable agriculture.