29.10.2021 – 16:39
RIYADH, SAUDI ARABIA, March 23 / PRNewswire /
– Guidelines on ESG disclosure are intended to help issuers with ESG reporting
– The introduction of the Disclosure Guidelines demonstrates recognition of the growing importance of ESG and is a significant step forward in the Saudi Exchange’s efforts to become a leading global capital market
– Sustainability is at the heart of Vision 2030 in Saudi Arabia and the stock market plays a central role in promoting sustainable financial growth
Saudi Exchange announced today that it has issued environmental, social and governance (ESG) disclosure guidelines to promote sustainable growth in the kingdom. These guidelines testify to the continued commitment of the Saudi Stock Exchange to support more than 200 publicly traded companies and other companies seeking listing. With the introduction of the guidelines for disclosure, the exchange aims to increase awareness of the importance of ESG in the Saudi capital market.
The introduction of the ESG disclosure guidelines are related to the increasing importance of ESG issues around the world. Capital markets play an important role in promoting sustainability, and Saudi Exchange is committed to future-proofing the Saudi capital market in line with Vision 2030.
Mohammed Al-Rumaih, CEO of Saudi Exchange, commented, “With the introduction of the ESG disclosure guidelines, Saudi Exchange is committed to helping issuers of all sizes incorporate ESG into their investor reporting and communications. Sustainable investment practices play a role global markets play an important role, and we have a responsibility to highlight the importance of ESG and the opportunities it offers for all of our market participants and stakeholders. “
“The publication of the ESG Disclosure Guidelines is an important milestone in our efforts to create a unified approach to ESG reporting for all of our publicly traded companies. Given that ESG is increasingly important in decision-making for local and international investors these guidelines will encourage companies to voluntarily disclose their ESG performance, “continued Al-Rumaih.
Through various initiatives, the exchange will help issuers to deepen their understanding of best ESG practices. These include one-on-one meetings with publicly traded companies to help them improve their ESG profiles, as well as training workshops and other awareness-raising initiatives aimed at encouraging disclosure of ESG data. The exchange will also advise companies on how to improve their ESG disclosures to align with world best practices.
The Disclosure Guidelines will help raise awareness about ESG, help publicly traded companies navigate the ever-changing ESG landscape, present a range of reporting options that companies can use to measure their progress, and ultimately unlock the benefits of a sustainable approach to business growth. The guidelines were developed on the basis of the UN SSE Model Guidance and are continuously updated to take into account changes in the area of ESG so that they remain relevant and can continue to act as a catalyst for sustainable and inclusive growth in the Saudi capital market.
To download the ESG Disclosure Policy, please click here.
Information on Saudi Exchange
Saudi Exchange is a licensed agency in the Kingdom of Saudi Arabia that acts as the Kingdom’s stock exchange and on which securities are listed and traded. The Saudi stock market is the ninth largest stock market among the 67 members of the World Federation of Exchanges and is the dominant market in the Gulf Cooperation Council (GCC). The stock exchange is the third largest equity market among emerging economies. For more information, see: www.saudiexchange.sa.
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Original content from: Saudi Exchange, transmitted by news aktuell