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Dubai, United Arab Emirates – Following landmark legislation enacted in the United Kingdom (UK) that would mandate pensions funds to factor in ESG considerations, the Middle East Investor Relations Association (MEIRA) invited Guy Opperman, UK Minister for Work and Pensions, to discuss the significance of this regulatory update and encourage continued adoption of sustainability practices across Middle Eastern listed companies.
At a webinar titled ESG 2.0 – A conversation with Guy Opperman, UK Minister for Work and Pensions, the Minister shared his insights on fit for purpose reforms, including the importance of addressing capital market needs, while sharing what the latest ESG legislation means for pensions and financial inclusion.
During the session, he said: “By becoming the first country in the world to embrace ESG and introduce this legislation, it is evident that the City of London is open for business. The S in ESG is a concept that I believe will be crucial in a post-pandemic world as it is a complex facet to grasp, which is why we launched a Call for Evidence which seeks to identify the impact of social factors on pension scheme investments and how they should be included in their ESG policies. From the context of Middle Eastern investors, it is a matter of encouraging companies that you are invested in to apply these ESG considerations and showcase robust stewardship in this regard, while also identifying opportunities to place capital in companies that champion sustainability.”
During the webinar, moderated by Oskar Yasar, Managing Partner at Broome Yasar Partnership, a number of MEIRA’s board members, including Andrew Tarbuck, Partner and Head of Capital Markets at Al Tamimi and MEIRA Chair; Redwan Ahmed, VP of Investor Relations at DP World; and Marwa Al Maskati, Director of Marketing & Business Development at Bahrain Bourse; as well as a number of leading professionals in the local and regional IR landscape, including Sarah Pirzada Usmani, Managing Director and Head of Sustainable, Asset & Project Finance at First Abu Dhabi Bank, discussed the region’s concerted efforts in energy transition, ESG-oriented regulatory frameworks, and increased diversification efforts, among others.
Andrew Tarbuck, Partner and Head of Capital Markets at Al Tamimi and MEIRA Chair, said: “MEIRA is a strong advocate of ESG principles and practice in the Middle East region. Globally, we are witnessing governments shape the ESG narrative whilst putting in place robust regulatory frameworks that protect the interests of issuers and investors alike. A special thanks to the UK Minister, Guy Opperman, for his valuable insights today as we deliberate the importance of ESG, which acts a critical catalyst to the region’s diversification efforts.”
© Press Release 2021
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