Gulf Exchanges Reveals Unified ESG Metrics

– Gulf Exchanges Announce Unified ESG Metrics for Companies Listed in the GCC Today, the GCC Exchanges Committee unveiled a unified set of ESG Disclosure Metrics that includes 29 standards that are in line with the Sustainable Stock Exchanges Initiative and the World Federation of Exchanges. Emissions of greenhouse gases, energy use, water use, gender-based pay, employee turnover, gender diversity, data privacy, ethics, and other topics are included in these standards.

It should be noted that these metrics are optional and do not replace the GCC stock exchange ESG disclosure guidelines.

DFM and Nasdaq Dubai CEO Hamed Ali stated:

“DFM’s commitment to strengthening our leadership in the ESG space in line with the Exchange’s strategy to become the region’s leading sustainable financial market by 2025 is exemplified by our participation in this great initiative. We are eager to collaborate with the other GCC exchanges to swiftly implement these metrics as international best practices. This development also adds to our efforts to encourage issuers to incorporate environmental, social, and governance (ESG) considerations into their strategies and operations.
The UAE ESG Index, which will be launched in 2020 to track and promote ESG best practices among listed companies, was launched by DFM, one of the first GCC exchanges.

By utilizing Dubai’s world-class ecosystem, we also actively promote sustainable finance. By the end of 2022, the total value of sustainable and ESG-linked bonds and sukuk listed on Nasdaq Dubai will reach USD 16.8 billion,” Hamed Ali added. This has accelerated the Emirate’s position as a global center for sustainable finance.

Dubai Financial Market, Bahrain Bourse, Boursa Kuwait, Qatar Stock Exchange, Muscat Stock Exchange, Abu Dhabi Securities Exchange, and Saudi Exchange serve as members of the GCC Exchanges Committee. Saudi Exchange serves as the Committee’s chair. The Committee’s objectives are to support the growth of regional capital markets, establish a sophisticated capital market ecosystem in the GCC, and elevate the region’s standing on the international stage.

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