The higher rating reflects Leonardo’s ongoing efforts to strengthen its corporate governance model and consolidate its position in the Aerospace, Defence and Security (AD&S) sector, particularly in product quality and safety management. MSCI also acknowledged the Group’s strong alignment with emerging industry trends, noting its ability to capture future opportunities related to clean technologies, products and solutions.

Roberto Cingolani, Chief Executive Officer and General Manager of Leonardo, said:
“The upgrade of our MSCI rating represents an important recognition of Leonardo’s strategy, which successfully combines growth and financial solidity with business sustainability, in a constantly evolving geopolitical context, where the AD&S sector plays an increasingly strategic role.”

MSCI’s ESG ratings measure a company’s exposure to environmental, social and governance risks, as well as how these are managed, using an industry-relative scale ranging from CCC (laggard) to AAA (leader).

The upgrade follows several recent acknowledgements from other leading ESG evaluators:

• S&P Global raised Leonardo’s score from 81/100 to 83/100, reinforcing its leadership position.
• ISS ESG reaffirmed its Prime Status, with an improved score from C+ to B- (on a scale from D- to A+).
• CDP confirmed an “A-” rating, placing Leonardo in the Leadership band for climate change performance.

In 2025, the company published its first Group Transition Plan, setting out a roadmap toward a resilient business model that decouples resource use from growth. Priority areas include circular economy, energy efficiency, biodiversity, climate risk assessment and supplier engagement, all supported by defined and measurable actions.

Leonardo has also expanded its sustainability culture through a Group-wide education programme, extended to the supply chain, and through a series of initiatives aimed at supporting local communities. The company continues to strengthen its governance practices and remains aligned with international frameworks such as the United Nations Global Compact, where it contributes to the Italian network as a Board member, promoting its ten principles on human rights and anti-corruption.