The Saudi Exchange has issued Environmental, Social, and Governance (ESG) disclosure guidelines to promote sustainable growth in the Kingdom.
The guidelines showcase Saudi Exchange’s ongoing commitment to support its 203 listed companies, with a total market capitalization of over $2.42 trillion, as well as prospective companies seeking to list. The launch of the disclosure guidelines highlights the exchange’s efforts to raise awareness of the importance of ESG within the Saudi capital market.
The ESG disclosure guidelines launch coincides with a growing global focus on net-zero emission. Capital markets have an important role to play in promoting sustainability and Saudi Exchange is committed to advancing the Saudi capital market, in line with Vision 2030.
“With the launch of the ESG disclosure guidelines, Saudi Exchange has reaffirmed its commitment to helping issuers of all sizes integrate ESG into their investor reporting and communications. Sustainable investment practices play a significant role across global markets and we have a responsibility to highlight the importance of ESG and the opportunities ESG presents for all our market participants and stakeholders.”
The Exchange will help issuers in deepening their understanding of best ESG practices through a variety of activities, including individual meetings with listed companies to help them in improving their ESG profiles, as well as educational workshops and other awareness-raising initiatives to encourage ESG disclosures.
The guidelines were developed in line with the United Nations Sustainable Stock Exchanges (UN SSE) model and will be continually updated to account for changes in the ESG landscape to ensure they remain relevant and can continue to act as a catalyst supporting the sustainable and inclusive growth of the Saudi capital market.