The stock exchange trains investor relations officials on sustainability and carbon emissions disclosure

The EGX management has finished organizing a new course to train investor relations officials and improve their capabilities regarding sustainable development practices, which was organized by the Financial Supervisory Authority Decision No. 108 for the year 2021. This week witnessed the completion of the EGX administration’s organization of a workshop in the presence of all companies listed in the stock exchange to build the capabilities of its officials. Executives, especially Investor Relations Officers, on the mechanisms and drafting of TCFD disclosure reports in cooperation with Standard and Poor’s S&P Global, through a three-day training program organized virtually.

Ramy El-Dakani, Chairman of the Egyptian Stock Exchange, stressed his administration’s interest in continuing efforts to develop the capabilities of investor relations officials to keep pace with the continuous developments in the capital market industry in general, especially matters related to sustainability practices, in light of the increasing interest from international investors in the extent of companies’ commitment to applying rational practices in social and environmental aspects.

Al-Dukani added, in a press statement, today, Monday, that the coming period will witness more workshops aimed at improving the capabilities and skills of investor relations officials in listed companies, due to the importance of their role in strengthening communication channels and explaining business models for their companies professionally with all types of investors.

The Chairman of the EGX indicated that the last session is the third in the same context, as the management of the Egyptian Stock Exchange, and through its affiliated institution for sustainable development, organized workshops during the months of February and last March for about 103 companies, which are the companies concerned with the implementation of the Financial Supervisory Authority Resolution No. 108 of the year. 2021 regarding disclosing the sustainability business of companies whose issued capital or net equity is not less than 500 million Egyptian pounds. which are relied upon in preparing sustainability reports.

Arrangements are underway to hold workshops for the rest of the companies listed in the stock exchange, and after completing the training of all the listed companies, the Egyptian Stock Exchange will be the first stock exchange in the world to qualify the listed companies and grant their representatives GRI certificates.

It is noteworthy that last June witnessed the completion of the training program on disclosure of climate impacts TCFD, in cooperation with the United Nations Sustainable Stock Exchanges UN-SSE, the International Finance Corporation IFC and the Carbon Disclosure Standards Board CDSB. The training targeted all companies obligated to disclose TCFD

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