ESG Turns This Metals Stock Into Winner, Batters Top Glove
- Press Metal is Best Performer in KLCI index in first quarter
- There’s scarcity of low-carbon aluminum makers: Fortress
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As the world’s biggest glove maker stumbles because of ESG concerns, a metal producer’s focus on environmental, social and governance practices has made it a darling among investors.
Press Metal Aluminium Holdings Bhd. surged 18% in the March quarter to become the best performer on Malaysia’s benchmark stock index. The company, whose plants run on hydropower, has rallied amid higher prices of the metal and bets that its products made with a smaller carbon footprint will be in demand.