The Bahrain Bourse, the stock exchange licensed by the Central Bank of Bahrain, won the “Best Sustainable Practices in Governance, Social and Environmental Responsibility Award in Bahrain 2024” from the Global Banking and Finance Review. This prestigious award confirms the tireless efforts made by the Bahrain Bourse to implement best practices related to environmental, social and corporate governance issues, and its effective role in promoting sustainability practices in the financial market.
On this occasion, Sheikh Khalifa bin Ibrahim Al Khalifa, CEO of the Bahrain Bourse, said: “We are honored by this honor from Global Banking and Finance Review. This award confirms our continued commitment to integrating environmental, social and governance practices into our business model. We believe that applying… Sustainable practices are considered a necessary element to ensure the safety and efficiency of financial markets in the long term, as well as being consistent with the economic vision of the Kingdom of Bahrain, as we are keen to provide the platform that facilitates responsible investment decision-making, and to support companies’ efforts to adopt best practices related to sustainability.”
The Bahrain Bourse has confirmed its commitment to adopting sustainable development standards by launching a number of important initiatives. As part of its support for the United Nations Sustainable Stock Exchanges Initiative, the Bahrain Bourse is keen to align its operations with the sustainable development goals. In June 2020, the Bahrain Bourse took a pioneering step by issuing the Optional Environmental, Social and Governance Disclosure Standards Guide for Listed Company Reports with the aim of enhancing transparency and responsibility regarding their environmental, social and governance performance. The Stock Exchange also played an important role in the issuance by the Gulf Financial Markets Committee and the General Secretariat of the Gulf Cooperation Council of a unified package of disclosure standards for environmental, social and governance practices in January 2023. This initiative aims to achieve compatibility between all Gulf financial markets and enhance transparency in financial markets.
As part of its keenness to implement its strategy to enhance sustainability, the Bahrain Bourse published its first sustainability report, in which it touched on the details of its strategy and the partnerships it has concluded and implemented within the field of the Governance, Social and Environmental Responsibility Report for the year 2022. The Bourse also recently joined the Alliance of Financial Services Providers to achieve Zero Neutrality, a global coalition seeking to achieve net neutrality of greenhouse gas emissions by 2050.
The Bahrain Bourse continues to devote its efforts to encouraging sustainable investment and promoting responsible business practices in the financial market.
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