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Muscat Stock Exchange announces ESG initiatives

14 Nov 2021 By OUR CORRESPONDENT

Muscat – The Muscat Stock Exchange (MSX) on Sunday announced the establishment of a new section to focus on the important environmental, social and governance (ESG) issues and diversity and inclusion (D&I) to achieve sustainable growth in Oman’s capital market sector.

The new section will be operating within the MSX under the name of ‘ESG and D&I’. The Muscat Stock Exchange has appointed Majida bint Sheikhan al Mamari as the head of this initiative.

The establishment of the ‘ESG and D&I’ section comes under exchange’s keenness to support good governance policies in the sultanate as well as to keep pace with global best practices and to achieve sustainable growth in the capital market sector.

In a press statement, Mohammed bin Mahfoud al Ardhi, chairman of the board of directors of MSX, stated that the MSX board has signified the importance of ESG and D&I in the strategic planning of the exchange’s development.

“This is an important initiative, especially during the time when global sustainability initiatives and events such as COP26 climate conference have brought environmental sustainability and inclusive corporate policies at the forefront of global business practice,” he said.

Ardhi explained that ESG goes beyond standard corporate social responsibility (CSR) measures and takes into account a long-term sustainable view on the environmental, social and governance issues.

“At the Muscat Stock Exchange, we believe in sustainable business growth and ethical deployment of capital, which in turn reflects into increased investor confidence, and improved profitability,” he added.

Ardhi said that this [ESG and D&I] initiative comes under MSX’s dedicated efforts to improve market transparency in disclosures and include market participants in endeavors such as environmental and social governance.

“Today’s investors are focused more than ever on sustainability factors in their investment decisions and the exchange is committed to harmonize the principals of investment with the investors sustainability goals from a more diverse and inclusive platform,” he said.

The MSX has adopted ESG as a best practice in line with the UN Principals for Responsible Investment (PRI) that are dedicated to promoting environmental and social responsibility among worlds investors.

According to UN PRI Standards, the ESG in investments is evolving from a risk management practice to a driver of innovation and new opportunities that create long-term value to business and society, a journey the MSX happily embarks upon with the promise to create a sustainable impact on its investment value chain.

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