Muscat Stock Exchange Announces ESG Initiative
Muscat, 14 Nov (ONA) — Muscat Stock Exchange (MSX) announced the institution of a new section under the name of “ESG and D&I” at MSX.
The establishment of this section comes under MSX’s keenness to support good governance policies in the Sultanate of Oman as well as to keep pace with global best practices and to achieve sustainable growth in the capital market sector.
Speaking on this occasion, Mohammed Mahfoud Al Ardhi, Chairman of MSX Board of Directors stated that the Board has signified the importance of ESG and D&I in the strategic planning of Exchanges development, especially during the time where global sustainability initiatives and events such as COP26 have brought environmental sustainability and inclusive corporate policies at the forefront of global business practice.
He pointed out that, ESG goes beyond standard CSR measures and takes into account a long-term sustainable view on environmental, social and governance issues. “At MSX, we believe in sustainable business growth and ethical deployment of capital, which in turn reflects into increased investor confidence, and improved profitability,” explained Al Ardhi.
He stated that this 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. He furthered added that the investors nowadays focus more than ever on sustainability factors in their investment decisions and MSX is committed to harmonize the principals of investment with the investors sustainability goals from a more diverse and inclusive platform.
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, 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 MSX happily embarks upon with the promise to create a sustainable impact on its investment value chain.