SAUDI ARABIA: Saudi Arabia’s Ministry of Economy and Planning, the Capital Market Authority (CMA) and the Saudi Exchange Company have signed an MoU to drive the sustainable development and long-term success of the Kingdom’s capital market, as well as advance ESG industry standards, a press release read.
As part of the MoU, a dedicated coordination team will be established to meet regularly and collaborate across three main areas: the development of a Saudi ESG taxonomy; the development of a national ESG disclosure framework for listed companies, infrastructure companies and capital market institutions in Saudi Arabia; and promoting awareness of ESG among investors and companies in Saudi Arabia.