The Move To Mandatory Reporting

The guidelines issued by the stock exchanges across the Middle East are perceived through the lens of potential regulatory requirements that may extend to both listed and non-listed companies. They often use metrics aligned with international frameworks, presenting a clear set of potential investor expectations on ESG information, and companies may see alignment with the guidelines as having reputational benefits. However, while the guidelines have encouraged companies to consider the importance of ESG disclosures, initiate processes such as setting up ESG governance and introduce ESG materiality assessment, some have been more driven to 'tick the box' on these requirements or expectations as opposed to focusing on the quality of their ESG disclosures.