ABU-DHABI-SECURITIES
14.1.2020 18:05:11 CET | Business Wire | Press release
ADX is participating in the "Second Abu Dhabi Sustainable Finance Forum" held under the umbrella of "Abu Dhabi Sustainability Week 2020", one of the world's most prominent sustainability events which takes place in the capital Abu Dhabi from 11th to 18th of January 2020.
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ADX is one of the signatories of the "Abu Dhabi Sustainable Finance Declaration", and a member of the "United Nations Sustainable Stock Exchange Initiative" (SSE). Today, Abu Dhabi Securities Exchange (ADX) announced that it will issue its first Environmental, Social & Governance (ESG) report in the first half of 2020. The report will be issued annually and is the first of its kind in the region.
The announcement comes few months after ADX issued a set of ESG disclosure guidelines to encourage listed companies to follow its lead and incorporate ESG issues into their business to test their effectiveness and act upon it. This will encourage listed companies to issue their sustainability reports, and it illustrates ADX’s commitment to drive sustainability in financial markets.
ADX is looking forward to an active participation in the discussions of the forum, which serves as an important opportunity to meet with different leaders around the world. ADX will discuss ways to integrate sustainability within the regulatory frameworks of investment institutions and cooperation with local and international sector leaders. This will enhance communication, knowledge and awareness in the field of sustainable financing, and will also help to explore Current and future opportunities for both sustainable finance and capital investment sectors, to obtain positive economic, social and environmental outcomes.
H.E. Khalifa Salem Al Mansouri, Chief Executive of ADX , said: “One of ADX’s strategic objectives is to advance Sustainable Development Goals (SDGs) through Sustainable Finance. Today I am proud to announce that ADX will release its first annual Environmental, Social & Governance (ESG) report in the first half of 2020. The report is instrumental in advancing our Sustainable Finance Agenda and promoting high sustainability standards. It also marks a significative step towards enhancing ADX's competitiveness and attracting more sustainable investments to Abu Dhabi.”
His Excellency continued: "In line with the growing investments made to companies that implements environmental, social and corporate governance, we aim to develop and position ADX as a vibrant and thriving sustainable investment hub that supports capital formation, raising and deployment as well as the creation and issuance of products to achieve positive economic, social and environmental objectives.”
His Excellency added: “Companies' commitments to developing strategies that integrate the standards of the report opens the way for investments supported by US$83 Trillion from various Asset Management Funds (AMC). These funds will be directed to companies that apply environmental, social and corporate governance standards. New Financial instruments and policies are among the instrumental components that will make up sustainable finance and ADX’s ESG report will encourage the business community to adopt practices that achieve environmental and social sustainability standards."
By adopting these high standards, ADX is in harmony with “Towards the next 50” that charts out the UAE’s strategic development plan which aims to build a sustainable, diversified and high value-added economy that positively contributes to transition to a new global sustainable development paradigm. ADX’s ESG report reinforces the guiding principles on Sustainable Finance and encourages building up investment opportunities while increasing the quality and depth of sustainable investments in the UAE.
About 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.
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).
In 2014, ADX was upgraded to ‘Emerging Market’ status by both MSCI and S&P Dow Jones. ADX was already classified as an Emerging Market by FTSE in 2009 and in 2011 by S&P and Russell Investments.
*Source: AETOSWire
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