Bahrain Bourse held a webinar on the importance of Environmental, Social and Governance (ESG) Reporting on Wednesday, 29th July 2020, which is part of a series of workshops Bahrain Bourse is organizing with the aim of enhancing awareness and understanding of the importance and benefits of ESG reporting and encouraging listed companies in disclosing ESG information. The webinar was attended by more than 30 representatives from listed companies and other financial institutions.
The webinar began with an introduction on the ESG Voluntary Reporting Guideline that Bahrain Bourse issued last month, as well as provided companies with guidance on ESG disclosure and reporting methodology. ESG in the banking sector was also discussed, shedding light on the implementation of ESG Reporting in the banks in Bahrain. The webinar was concluded with an open discussion addressing questions from the attendees.
Webinar speakers included Marwa Almaskati, Director of Marketing & Business Development of Bahrain Bourse, Darin Rovere, Founder and Chief Executive Officer of Sustainability Excellence, and Dr. Ali Adnan Ibrahim, Chair – Sustainable Development Committee of Bahrain Association of Banks (BAB) and Head of Sustainability & Social Responsibility, Al Baraka Banking Group.
Marwa AlMaskati, Director of Marketing & Business Development of Bahrain Bourse said: “Following the issuance of Bahrain Bourse’s ESG Voluntary Reporting Guideline, we are keen to build on this initiative by enhancing the concept of ESG Reporting among listed companies. This webinar is part of a series of workshops/webinars that Bahrain Bourse is organizing to encourage and assist listed companies in addressing ESG issues that in return will contribute to the development of sustainability in Bahrain’s capital market.”
Darin Rovere, Chief Executive Officer of Sustainability Excellence said, “Fueled by the performance driven attributes of integrating ESG factors in investment decisions, responsible investing has grown exponentially over the last decade. It is therefore critical for listed companies to report on key ESG factors to meet the growing requirements of investors for material ESG information.”
Dr. Ali Adnan Ibrahim, Chair – Sustainable Development Committee of Bahrain Association of Banks (BAB) and Head of Sustainability & Social Responsibility, Al Baraka Banking Group said, “We have a massive opportunity to achieve a sustainable economic recovery coming out of the current recession. Sustainable finance allows banks to contribute by aligning their financing/asset portfolio with the United Nations Sustainable Development Goals (SDGs) and by incorporating environmental, social and governance (ESG) considerations. There is a strong business case in favor of sustainable finance. The majority of ESG funds have outperformed the wider market over the past 10 years, and over $12 trillion in new sustainable investment opportunities exist by 2030.”
It is worth noting that Bahrain Bourse issued its Environmental, Social and Governance (ESG) Voluntary Reporting Guideline for listed companies in June 2020. The voluntary reporting guideline aims to increase awareness and understanding of the importance and benefits of ESG reporting and assist listed companies to address ESG issues in their reporting to meet the requirements of institutional investors for material ESG information.