On November 5, 2021, the UN Sustainable Stock Exchanges (SSE) Initiative reported that the “Saudi Exchange recently launched its new ESG Disclosure Guidelines as a useful resource to aid issuing companies understand the context, characteristics and market best practices in environmental, social and corporate governance (ESG) disclosures. The guidance has been made available to the general public and includes definitions, benefits of reporting ESG aspects, recommendations for preparing a sustainability report, standards, international methodologies and performance indicators. The intention is to ensure the guidelines remain relevant and can act as a catalyst supporting the sustainable and inclusive growth of the Saudi capital market, for the benefit of all market participants.
‘Saudi Exchange is one of the most liquid stock exchanges in the world and ranks among the top 10 largest exchanges globally by market capitalization. The decisions and practices investors and businesses undertake on Saudi Exchange have a direct bearing on the Kingdom’s ability to meet the targets set out in the United Nations Sustainable Development Goals (SDGs),’ said Mohammed Al-Rumaih, CEO of Saudi Exchange in a Foreword to the new ESG disclosure guidance. ‘Working with issuers to support their ESG journey’s is fundamental for the advancement of the Saudi capital market. Together, we can harness Saudi Arabia’s financial might and channel it to accelerate inclusive, sustainable growth and support the global effort to realize the SDGs.’”
You may read the article on the SSE internet site.