AMMAN — CEO of Amman Stock Exchange (ASE) Mazen Wathaifi on Thursday said that 100 per cent of the listed companies which are obligated to submit their annual sustainability report for the year 2024, totalling 23 companies, had provided the ASE with the report within the deadline mentioned in the rules issued by the ASE, through the e-disclosure system (XBRL).

Wathaifi noted that the Arab International for Education and Investment Company has issued the mentioned report for the first time, the ASE website said.

This "high" percentage reflects the compliance of these companies with laws and regulations, as well as their concern for environmental, social and governance (ESG) issues.

Wathaifi pointed out that in accordance with the sustainability reporting rules, the companies included in the ASE20 index sample, as well as any company that was part of the mentioned index sample, are required to provide their sustainability report in accordance with the GRI standards.

Companies must submit these reports within six months from the end of its fiscal year if it is stand-alone report, or within three months of the end date of its fiscal year if the company incorporated the sustainability report with its annual report, the CEO said.

He also indicated that obligating the listed companies in the ASE20 index sample since 2022 to issue a sustainability report came to enhance the attractiveness of listed companies, and to increase transparency and disclosure in the national capital market, especially with regard to compliance with sustainability standards.

Sustainability report helps increase knowledge on companies' performance and achievements at all levels and it indicates the company's commitment and interest in environmental, social responsibility and governance issues, in light of the increasing interest in this information by local and foreign investors due to its importance in making investment decisions, he added.

Wathaifi also noted that Bank al Etihad Company submitted its first Climate-related Disclosures Report for the year 2024, in accordance with the guidance, regulatory framework, and disclosure policy on climate-related information issued by the ASE, and in aligned with IFRS standards.

The report was submitted ahead of the mandatory period set by the ASE, within the regulatory framework, which requires companies included in the ASE20 index sample to submit climate-related disclosures in two phases: the first being voluntary, starting in 2026 for 2025 data, and the second mandatory, starting in 2027 for 2026 data.

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