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BHB and SCE signs agreement to cooperate in the areas related to environmental conservation and protection

December 1, 2020
finance & economy

Bahrain Bourse announced signing a Memorandum of Understanding (MoU) with the Supreme Council for Environment to enhance areas of joint cooperation and issues of mutual interest between the Bourse and the Supreme Council for Environment in areas related to environmental conservation and protection. The MoU was signed by Shaikh Khalifa bin Ebrahim Al Khalifa, Chief Executive Officer of Bahrain Bourse and H.E. Dr. Mohamed Mubarak Bin Daina, Chief Executive of the Supreme Council for Environment.

The MoU aims to encourage listed companies to comply with the environmental rules and requirements and to disclose information related to environmental compliance in its issued reports. The MoU also aims at establishing a joint committee between the two parties to prepare a business plan and a timeframe to achieve the set objectives.

On this occasion, Shaikh Khalifa bin Ebrahim Al-Khalifa, Chief Executive Officer of Bahrain Bourse said: “We are pleased to sign the MoU which comes in line with Bahrain Bourse’s efforts in encouraging listed companies to disclose information related to environmental, social, governmental (ESG) and sustainability. The MoU will contribute in enhancing the sustainability and transparency in Bahrain’s capital market and meeting the investors’ requirements in relation to ESG information disclosure. The agreement also supports our plans to seek listing of green bonds and encourage sustainable and responsible investments.”

Sh. Khalifa also praised the efforts undertaken by the Supreme Council for Environment that aim to set initiatives, plans, and programs that encourage and enhance the environmental culture in the Kingdom of Bahrain and achieve the sustainable development goals.

H.E. Dr. Mohamed Mubarak Bin Daina, Chief Executive of the Supreme Council for Environment said, “The MoU translates the vision of the Supreme Council for Environment which aims at increasing cooperation with various sectors especially those related to the environment such as Bahrain Bourse, as the Bourse plays an important role in supporting the Kingdom of Bahrain’s efforts to achieve the Sustainable Development Goals (SDGs).”

“I hope that the signing of the MoU is a step towards further cooperation and achievements in the area of environmental conservation,” H.E. Dr. Bin Daina added.

It is worth noting that Bahrain Bourse issued its Environmental, Social and Governance (ESG) Voluntary Reporting Guideline for listed companies in June 2020. Bahrain Bourse also joined the United Nations Sustainable Stock Exchanges (SSE) initiative to demonstrate its voluntary commitment to promoting sustainable and transparent capital markets in cooperation with listed companies and other related stakeholders.

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