Doha, January 09 (QNA) – The Acting CEO of Qatar Stock Exchange (QSE) Abdulaziz Al Emadi said that QSE is pioneer in promoting practices that support sustainable investment standards at the level of Arabian Gulf region.
He added that it has launched a first sustainability platform in the region to encourage the listed companies to disclose their reports on the sustainable practices in 2018.
This came on the occasion of launching of unified package of environmental, social and governance disclosure standards for Gulf listed companies by GCC Financial Markets Committee on Monday.
Owing to the global interest in the sustainability investments, such investments remained an opportunity for GCC states to diversify their economies and enhance the long-term comprehensive growth, Al Emadi added.
He pointed out that by issuing the sustainability disclosure standards (Environmental, Social and Governance) by companies listed on GCC stock exchanges, the gulf stock exchanges have succeeded in establishing an operational framework that fosters their partnerships and develops the investment attraction to their listed companies, he said.
The unified standards include numerous criteria that are compatible with the UN sustainable development goals within the categories of greenhouse gas emissions, consumption of energy and water, salary rate for men and women, gender diversity, employee turnover, data privacy, and professional ethics.
The launch of these standards represents a crucial step towards unifying the reports of disclosing the environmental, social, and governance (ESG) in GCC states by taking into account the regional considerations, Al Emadi added.
In addition, such standards are not compulsory option, but rather a guide for companies that are willing to disclose their performance at the level of ESG, he said, pointing out that such standards do not supersede the current ESG disclosure guide for listed companies accredited within GCC financial markets.
GCC Financial Markets Committee comprises QSE, Boursa Kuwait, Bahrain Bourse, Muscat Stock Exchange (MSX), Saudi Stock Exchange Tadawul, Abu Dhabi Securities Exchange, and Dubai Financial Market (DFM),
and aims to develop regional capital markets, including an advanced financial market system in the Gulf region, in addition to promoting it globally.
(QNA)