• The metrics include 29 standards, aligned with the World Federation of Exchanges and Sustainable Stock Exchanges Initiative
  • The metrics are voluntary and do not replace existing ESG disclosure guidelines in GCC markets

Abu Dhabi: The GCC Exchanges Committee, chaired by the Saudi Exchange, published a unified set of ESG Disclosure Metrics today. The metrics comprise 29 standards that are aligned with the World Federation of Exchanges and Sustainable Stock Exchanges Initiative, and include categories across GHG emissions, energy usage, water usage, gender pay, employee turnover, gender diversity, data privacy, ethics and more.

The GCC ESG Disclosure Metrics are an important step towards standardizing ESG disclosure across the GCC region, due to differences in standards of reporting. The metrics are voluntary and serve as a guideline for companies wishing to embark on their ESG disclosure journey. The metrics do not replace existing ESG disclosure guidelines for GCC stock exchanges.

Saeed Hamad Al Dhaheri, Managing Director and Chief Executive Officer of Abu Dhabi Securities Exchange, commented: “Exchanges play a pivotal role in enhancing governance and sustainability among the region’s companies and ADX is proud to take part in creating unified disclosure metrics for GCC listed companies.  In 2020, we issued ESG disclosure guidelines for our listed companies- which illustrates ADX’s commitment to drive sustainability in financial markets- Our participation in the establishment of the GCC ESG Metrics reinforces our support for the adoption of the highest reporting and disclosure standards across GCC markets.”

The GCC Exchanges Committee comprises Abu Dhabi Securities Exchange, Bahrain Bourse, Boursa Kuwait, Qatar Stock Exchange, Muscat Stock Exchange, Saudi Exchange and Dubai Financial Market. The committee aims to support the development of regional capital markets, create an advanced capital market ecosystem in the GCC region, and elevate their position on the global stage.

The GCC ESG Disclosure Metrics are available to download here.

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Abu Dhabi Securities Exchange

Abu Dhabi Securities Exchange (ADX) was established on November 15 of the year 2000 by Local Law No. (3) Of 2000, the provisions of which vest the market with a legal entity of autonomous status, independent finance and management. The Law also provides ADX with the necessary supervisory and executive powers to exercise its functions. On 17th March 2020, ADX was converted from a “Public Entity” to a “Public Joint Stock Company PJSC” pursuant to law No. (8) of 2020. ADX is part of ADQ, one of the region’s largest holding companies with a broad portfolio of major enterprises spanning key sectors of Abu Dhabi’s diversified economy.

ADX is a market for trading securities; including shares issued by public joint stock companies, bonds issued by governments or corporations, exchange traded funds, and any other financial instruments approved by the UAE Securities and Commodities Authority (SCA).

ADX is the second largest market in the Arab region and its strategy of providing stable financial performance with diversified sources of incomes is aligned with the guiding principles of the UAE “Towards the next 50” agenda. The national plan charts out the UAE’s strategic development scheme which aims to build a sustainable, diversified and high value added economy that positively contributes to transition to a new global sustainable development paradigm.

For more information, please contact:
ADX
Abdulrahman Saleh ALKhateeb
Manager of Corporate Communication & Digital Marketing
Email: ALKhateebA@adx.ae
Brunswick Group
Mahmoud Kassem
Associate
Email: mkassem@brunswickgroup.com