RIYADH —

The Saudi Stock Exchange (Tadawul) announced Monday that it has joined the United Nations (UN) Sustainable Stock Exchanges (SSE) Initiative as a Partner Exchange. Joining nearly 80 Partner Exchanges globally, the partnership is aimed at promoting the integration of sustainability within Saudi Arabia’s capital market working together with market participants, issuers and relevant stakeholders.

Under the agreement, Tadawul will work toward achieving environmental and social targets primarily covering five pillars under the Sustainable Developmental Goals (SDGs). They include gender equality, fostering economic growth, responsible consumption and production, climate action, and collaboration with other partners’ exchanges.

Commenting on the partnership, Khalid Al Hussan, CEO of Tadawul, said: “We are pleased to join the SSE Initiative and we are confident that this will serve as a catalyst for sustainability advancement in Saudi Capital Market through developing a robust roadmap for sustainable development. As a Partner Exchange, we look forward to exchanging information and ideas with other partners through this exciting platform.”

The partnership will also see Tadawul work on many initiatives to raise awareness and motivate listed companies to adopt sustainable practices and integrating ESG reporting into their disclosure cycle. In addition, it will collaborate with relevant stakeholders in order to fulfill this commitment. — SG