MANAMA: Bahrain Bourse (BHB) signed a memorandum of understanding with advisory firm Sustainability Excellence to formalise the deployment of a series of strategic sustainability initiatives aimed at further enhancing transparency and disclosure of sustainability/ESG information among listed companies.
The MoU is aimed at deploying Environment, Social and Governance (ESG) related initiatives that would enable Bahrain Bourse to promote ESG and sustainability values as well as practices among its listed companies and investors as well as internally, the bourse said in a statement.
The scope includes deployment of engagement sessions with the listed companies, conducting workshops to encourage dialogue between investors and listed companies on key ESG issues, and developing a collaborative research report on the status of sustainability in Bahrain’s capital market based on key ESG information.
Bahrain Bourse chief executive Shaikh Khalifa bin Ebrahim Al Khalifa said, “Through Bahrain Bourse’s voluntary commitment to the United Nations Sustainable Stock Exchanges (SSE) initiative, we remain strongly committed to driving sustainability within the capital markets, both as an internal capacity building as well as increasing transparency within sustainability and ESG information across listed companies. We have set a comprehensive sustainability action plan to engage with listed companies and support their new sustainability journey.”
“Our focus on sustainability and ESG information stems from growing demands of international investors and rating agencies for listed companies to address ESG information within their core reporting. The initiative aims to encourage listed companies to embrace ESG development practices which will ultimately enhance market competitiveness,” Shaikh Khalifa.
Sustainability Excellence founder and CEO Darin Rovere said: “Environmental, social and governance (ESG) issues should be a priority for corporate management and boards. Investors, credit rating agencies, sovereign wealth funds, banks, stock exchanges, and regulators are assessing and monitoring the companies’ ESG reporting and performance because of the evidence-based view that ESG is critical to the long-term competitive success of companies and financial performance. We are pleased to support Bahrain Bourse’s efforts in promoting ESG disclosure among listed companies and financial markets.”
Bahrain Bourse last year joined the United Nations Sustainable Stock Exchanges (SSE) initiative to demonstrate its voluntary commitment to promoting sustainable and transparent capital markets.
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