Listed companies will have to comply with the Bahrain Bourse (BHB) Environmental Social and Governance (ESG) reporting guidelines from financial year 2024.

In her keynote speech during the Middle East Investor Relations Association (MEIRA) Annual Conference at the Ritz-Carlton yesterday, Central Bank of Bahrain executive director of financial institutions supervision Abeer Al Saad said this will also be applicable to financial institutions licensed by CBB.

First announced in June 2020, the guidelines encourage listed companies to report a set of 32 ESG metrics and indicators on a voluntary basis.

They explain the key regional and international drivers for the adoption of ESG reporting, the importance of ESG reporting and the ways to report on ESG.

The 2023 MEIRA Annual Conference provided an opportunity to engage with key stakeholders in the capital markets and discuss important topics such as emerging trends and opportunities in GCC Markets, the ‘Tabadul Hub’ initiative launched by ADX and Bahrain Bourse and Investor Relations (IR) practitioners’ perspective.

The conference also highlighted the importance of embracing ESG in the region and regulations, as well as the role of IR in communicating the ESG Story.

With more than 39 speakers, 20 exhibitors from sponsoring entities, and 400 attendees, the conference brought together GCC Exchanges, international corporations, research analysts, brokers, custodians, IR advisory firms, listed companies, and regional regulatory bodies.

Commenting, BHB chief executive Shaikh Khalifa bin Ebrahim Al Khalifa said: “The 2023 MEIRA Annual Conference hosted by Bahrain Bourse was a great opportunity to discuss the important role of capital markets in advancing ESG and implementation of best IR practices. We require collective efforts taken to support the development of sustainable markets in the region, and I thank my colleagues from GCC exchanges who joined us for this unique event. I would also like to thank the Central Bank of Bahrain in collaborating with Bahrain Bourse to host this successful conference.”

On his part, John Gollifer, general manager of MEIRA, said: “The MEIRA conference serves as our Association’s premier event, and this year’s edition held particular significance as we commemorated our 15th anniversary.

Since its inception, MEIRA has been steadfastly committed to promoting IR best practices in the region, fostering transparency and upholding sound corporate governance principles in the capital markets. The remarkable level of participation witnessed at this year’s Conference stands as a testament to the alignment of our endeavours with the needs of the industry.

The convergence of our esteemed members, partners and stakeholders to engage in discussions surrounding the latest IR trends underscores MEIRA’s pivotal role in cultivating a thriving community of capital market professionals in the Middle East.”

 

Copyright 2022 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).