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SteelAsia Manufacturing Corp. obtained a 'very good' SQS2 rating from Moody's for its Sustainable Finance Framework, the highest in the region. This rating supports the company's goal to develop a low-carbon steel industry in the Philippines.

The framework includes financing structures and decarbonization initiatives, confirmed by DNV's assessment that its Calaca plant has a carbon footprint nearly 90% lower than traditional steelmaking. SteelAsia aims to produce 3 million metric tons per year of green steel capacity.