The shares of companies listed across the Middle East and North Africa are taking a hit on international concerns over unrest in Egypt and regional stability. So it would not seem the most auspicious time to launch a new stock market index.
But that is what Standard & Poor’s did with a couple of partners on Tuesday, unveiling a new index of 50 equities designed help investors identify companies that do well in terms of environmental and social policy as well as governance. And that last word, governance, does give the index a certain resonance.
The S&P/Hawkamah Pan Arab ESG Index ranks companies with the best records of disclosure on environmental, social and governance (ESG) issues, as well as their record in policy implementation, as measured by independent reports.
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