Dubai’s stock exchange eyes Middle East sustainability crown

The Dubai Financial Market has launched a blueprint to promote environmental, social and governance (ESG) issues among listed firms, pledging to become the region’s leading sustainable financial market by 2025.

The Sustainability Strategic Plan 2025, which underpins the Dubai exchange’s efforts to promote ESG best practice among PLCs and other stakeholders, comprises four main pillars – Sustainability Reporting and Disclosures; Sustainable Investment Education; Green Products and Listings and lastly, Gender Balance and Empowering People.

To enact the strategy, a sustainability committee has been formed that will create awareness of ESG practices among local and regional investors. The committee’s objective is to solidify Dubai’s position as a regional investment hub and contribute to the UAE’s agenda for sustainable development.

The committee will play a critical role in embedding sustainability policy and processes across the Dubai Financial Market’s operations, to ensure long-term corporate survival. This will include material risk mapping, along with environmental and social development initiatives.

Committee leaders will also launch initiatives to promote the importance of ESG investing and encourage listed firms to adopt ESG reporting practices. The Dubai Financial Market said these factors will reinforce adopters’ ability to attract investments, access finance and enter new markets through robust governance practices.

Chairman Essa Kazim said: “Since 2016, the Dubai Financial Market has been actively promoting best practices of sustainability among market participants. We are looking to become the region’s leading sustainable financial market by 2025.”

Founded in 2000, the Dubai Financial Market is the best-known trading venue in the United Arab Emirates, with a market cap in excess of US $90 billion.

Last Updated: 1 August 2019