#Dubai Financial Market launches new ESG Index consisting of 20 companies | ZAWYA MENA Edition

Dubai Financial Market launches new ESG Index consisting of 20 companies | ZAWYA MENA Edition:

Dubai Financial Market (DFM) has launched the UAE Index for Environment, Social and Governance (ESG) to encourage listed companies in the UAE to expand embracing ESG best practices.

The S&P/Hawkamah UAE ESG Index is developed in cooperation with S&P Dow Jones Indices and the Hawkamah Institute for Corporate Governance in the UAE (Hawkamah). It is supported and approved by the UAE Securities and Commodities Authority (SCA).

“The appropriate implementation of best practices of corporate governance, disclosure and transparency as well as environmental and social commitment is essential to boost UAE markets’ competitiveness, attract further investments and sustain growth noting that investment institutions across the world are increasingly factoring these matters in investment decisions process,” Essa Kazim, Chairman of the DFM said.

The inaugural index sample consists of 20 listed companies and provides 5 years back tracking, enabling market participants to access index performance since 2015.