Saudi: Tadawul boosts sustainability initiatives through agreement with SALIC

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Riyadh: The Saudi Exchange (Tadawul) has signed a memorandum of understanding (MoU) with investment firm the Saudi Agricultural and Livestock Investment Company (SALIC) to advance sustainability initiatives across Saudi Arabia.

The agreement was sealed on 20 February 2024 during the third edition of the Saudi Capital Market Forum, which took place in Riyadh this week, according to a press release.

Tadawul and SALIC will work together on joint marketing endeavors to promote sustainable development and its integration into business operations.

The MoU also contributes to the vision of a greener economy in the Kingdom as part of the Saudi Green Initiative.

Moreover, the strategic partnership aligns with the objective of fostering more sustainable practices across the financial and agricultural sectors in Saudi Arabia while signifying a mutual commitment to environmental stewardship.

Further details on the initiatives and outcomes of the Tadawul-SALIC agreement are expected to be shared as the collaboration progresses. Meanwhile, it encompasses a joint approach to align strategic initiatives, share knowledge through educational programmes, and enhance transparency in sustainability efforts.

The two-day capital market event witnessed key speakers and statements by Saudi officials and ministers; like the Chairman of the Capital Market Authority (CMA), Mohammed ElKuwaiz; the Minister of Investment, Khalid Al Falih; the CEO of Tadawul, Mohamed Al Rumaih; and the CEO of anb Capital, Khalid Al Ghamdi.