Bahrain Bourse signs environment deal

Listed companies will be encouraged to comply with environmental rules and requirements

  
Bahraini traders are pictured in Bahrain Bourse in Manama, Bahrain, November 5, 2020. Image used for illustrated purpose

Bahraini traders are pictured in Bahrain Bourse in Manama, Bahrain, November 5, 2020. Image used for illustrated purpose

REUTERS/Hamad I Mohammed

MANAMA: Bahrain Bourse (BHB) has signed a memorandum of understanding (MoU) with the Supreme Council for the Environment (SCE) to enhance cooperation in environmental conservation and protection.

Under the agreement, listed companies will be encouraged to comply with environmental rules and requirements and to disclose information related to environmental compliance in their issued reports.

Signed by BHB chief executive Shaikh Khalifa bin Ebrahim Al Khalifa and SCE chief executive Dr Mohammed Bin Daina, the MoU also aims at establishing a joint committee between the two parties to prepare a business plan and a timeframe to achieve the set objectives.

Shaikh Khalifa said: “This is in line with Bahrain Bourse’s efforts in encouraging listed companies to disclose information related to environmental, social, governmental (ESG) and sustainability.”

He added that the agreement will contribute in enhancing sustainability and transparency in Bahrain’s capital market and meeting the investors’ requirements in relation to ESG disclosures.

“The agreement also supports plans to seek listing of green bonds and encouraging sustainable and responsible investments,” said Shaikh Khalifa.

BHB issued its ESG voluntary reporting guideline for listed companies in June this year.

The exchange has also joined the United Nations Sustainable Stock Exchanges (SSE) initiative to demonstrate its voluntary commitment to promoting sustainable and transparent capital markets in cooperation with listed companies and other related stakeholders.

Dr Bin Daina said the agreement supports SCE’s vision of increased cooperation among various sectors, especially those related to the environment, in supporting Bahrain’s efforts to achieve the UN sustainable development goals (SDGs).

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