MUSCAT: The Muscat Stock Exchange (MSX) unveiled on Monday, September 11, 2023, a new platform for ‘Triple Governance’, designed to encourage listed companies to disclose environmental, social and corporate governance (ESG) standards.
The launch took place in the presence of Sayyid Saud bin Hilal al Busaidi, the Minister of State and Governor of Muscat. Also present were top officials of the Capital Market Authority (CMA) and MSX.
The event marked a crucial milestone in the MSX's journey towards becoming a prominent player in sustainable finance. With growing interest among investors worldwide in sustainable development and responsible investing, the exchange aims to meet the current investment needs while safeguarding the interests of future generations.
The Omani bourse recently joined the United Nations Sustainable Stock Exchanges initiative as a partner, committing to fostering a sustainable and inclusive financial culture. In alignment with this initiative, the MSX formulated essential governance standards to promote sustainability. These standards assist and encourage listed companies to make relevant environmental and social information available to investors and the general public.
To facilitate this process, the MSX has unveiled a company guidance manual, serving as a reference for ESG disclosures. This manual is designed to help companies effectively manage information and data related to sustainability principles.
In addition to the guidance manual, the exchange has launched a dedicated platform on its website. This platform will serve as a central hub for broadcasting ESG-related disclosures of listed companies, further enhancing transparency and accountability.
In his address, Al Busaidi commended the MSX’s efforts in championing sustainability and expressed his gratitude for the exchange's role in advancing Oman's economic vision. He emphasized the importance of sustainability in today's investment landscape and its alignment with Oman's long-term financial goals.
As the Muscat Stock Exchange continues evolving into a responsible and sustainable investing hub, it sets a noteworthy example for financial markets worldwide. By embracing the principles of transparency, accountability, and sustainability, the exchange is positioning itself as a catalyst for positive change in Oman's financial landscape and beyond.
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