Bahrain Bourse (BHB) has partnered with Bahrain-based voluntary carbon offsetting platform Safa to advance environmental initiatives and support the bourse’s sustainability and net zero objectives. The collaboration aligns with Bahrain’s national strategy to achieve net-zero emissions by 2060.
Under a Memorandum of Understanding (MoU), Safa will serve as Bahrain Bourse’s strategic sustainability partner, developing tailored carbon offset programmes for its corporate travel and operational emissions.
These measures aim to reduce and neutralise the exchange’s environmental impact, ensure accurate environmental reporting, and contribute to its long-term climate responsibility roadmap.
Bahrain Bourse chief executive Shaikh Khalifa bin Ebrahim Al Khalifa called the collaboration a “key milestone” in their net-zero journey. “As we enhance our ESG reporting and disclosures, this initiative reflects our proactive commitment to manage and neutralise our own emissions, particularly in light of mandatory ESG reporting across listed companies,” he said.
He added that the partnership demonstrates Bahrain Bourse’s “proactive environmental leadership” following its voluntary commitment to the Net Zero Financial Service Providers Alliance. This commitment, he noted, aligns with Bahrain’s ‘Bahrain Blueprint’ national action plan for carbon neutrality and a low-carbon economy.
Safa chairwoman Mashael Fairooz expressed pride in supporting Bahrain Bourse’s “first strategic step on its climate journey.” She emphasised that the Bourse’s leadership can influence broader awareness and adoption of sustainable practices across capital markets.
“Through this partnership, we are enabling Bahrain Bourse to take tangible climate action by embedding carbon offsetting into its operational model, aligning with international best practices and national climate goals,” Ms Fairooz said, adding that Safa looks forward to expanding similar partnerships across the region to build a resilient, low-carbon economy.
Safa is a portfolio company of Bahrain’s sovereign wealth fund, Mumtalakat.
The initiative highlights the increasing role financial markets play in environmental progress as global ESG expectations rise. Bahrain Bourse voluntarily committed to the Net Zero Financial Service Providers Alliance in 2024 and has been a signatory to the United Nations Sustainable Stock Exchanges (SSE) initiative since 2019. In June 2020, it issued its ESG Voluntary Reporting Guideline for listed companies.
In January 2023, the GCC Exchanges Committee published a unified set of 29 ESG Disclosure Metrics. Furthermore, in November 2023, the Central Bank of Bahrain issued the ‘ESG Requirement Module’ under the Common Volume of the CBB Rulebook, applicable to all listed companies and targeted CBB licensees for reporting periods ending December 2024.
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