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Adopting unified standards for Gulf companies to disclose environmental and social practices


The Bahrain Bourse participated in the sixth meeting of the Gulf Capital Markets Committee, which was held in Riyadh, Kingdom of Saudi Arabia on December 14, in the presence of Sheikh Khalifa bin Ibrahim Al Khalifa, CEO of the Bahrain Bourse, to adopt unified standards for companies listed in the Gulf region in the field of disclosure of environmental, social and governance practices.

Today, the Gulf Financial Markets Committee of the General Secretariat of the Cooperation Council for the Arab States of the Gulf – chaired by Saudi Tadawul – issued a unified package of environmental, social and governance disclosure standards for listed companies.

The package of standards includes 29 standards (10 standards related to environmental practices, 10 standards related to social practices, and 9 standards related to governance practices) in line with the goals of the International Federation of Exchanges and the United Nations Initiative for Sustainable Financial Markets, including categories of greenhouse gas emissions, energy and water consumption, and average salaries between men and women. , employee turnover, gender diversity, data privacy, professional ethics, and more.

The launch of environmental, social and governance disclosure standards represents an important step to unify the reporting of environmental, social and governance practices in the GCC countries due to the existence of several standards in the preparation of sustainability reports. Its commitment to environmental, social and corporate governance practices.

On this occasion, Shaikh Khalifa bin Ebrahim Al Khalifa, Chief Executive Officer of the Bahrain Bourse, said: “The launch of unified standards for listed companies at the level of the Gulf financial markets for disclosure on environmental, social and governance practices aims to harmonize the Gulf financial markets in the field of disclosure and enhance transparency, especially with an increase in The requirements of investors who are more familiar with environmental, social and governance practices to provide them with more accurate and transparent information, in order to assist them in making their investment decisions.With the increased focus on the growth of the Gulf financial markets, in conjunction with the twenty-eighth United Nations Climate Conference (COP28) to be held in the UAE, it has The harmonization of financial markets in the field of disclosure of environmental, social and governance practices has become important, especially with the challenges of climate change, as unifying these standards is a major achievement in order to reach zero neutrality.

The GCC Capital Markets Committee aims to support the development of regional capital markets, develop an advanced financial market system in the GCC region, and upgrade it on a global scale.

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