The Capital Markets Authority Organized an Awareness Event on Sustainability Reporting Requirements for Listed Companies, in collaboration with “Zain”, “RSM” and Several Experts

The Capital Markets Authority (CMA) organized an awareness event titled of “Sustainability Reporting Requirements for Listed Companies” within the framework of its pursuit to raise awareness among companies listed in the Exchange about sustainability-related topics and regulatory updates.
The event commenced with an overview of the role and concept of sustainability from the CMA’s perspective, by Mr. Hamad Al-Najdi – Chief Analyst at Markets Surveillance Department at the CMA. He discussed the global investment directed towards achieving sustainability goals, the CMA’s role in regulating sustainability aspects, and an outline of reporting requirements.
This was followed by a workshop led by Mr. Kareem AbuEid – Partner/Sustainability Services at RSM Albazie & Co., which covered the key of sustainability practices and methods of preparing reports in accordance with the international frameworks, starting from explaining the relationship between sustainability and environmental, social, and governance (ESG) factors, as well as the pillars of these factors. The workshop also addressed the developments and updates related to sustainability and international frameworks of reporting.
The event concluded with a panel discussion where different perspectives were exchanged. The panel included Mr. Abdulrahman Al Failakawi – Director of Markets Surveillance Department at the CMA, Jennifer Suleiman – Chief Sustainability Officer at Zain Group, Dr. Dalal AlGhawas – Consultant/Founder of SWAPAC, and Mr. Kareem AbuEid – Partner/Sustainability Services in RSM Albazie & Co., who moderated the discussion. This panel discussion touched upon the CMA’s role in enhancing transparency in sustainability reporting through reporting requirements, the importance of complying with the international standards of the sustainability reporting, and the need to provide a supportive governance environment. In addition, the potential of applying sustainability standards issued by the International Sustainability Standards Board (ISSB) was discussed.
The speakers emphasized the added value that sustainability reports provide to companies and the importance of integrating their factors into the corporate strategies, along with their effects. The role of companies in measuring carbon emissions, and the challenges and opportunities associated with these topics were also discussed. Furthermore, some international initiatives that took place at COP28 were reviewed, which resulted in investment pledges to achieve carbon neutrality and their implications on the Gulf and Kuwaiti markets and consumers, given their reliance on oil and gas as primary resources.
The panel discussion also addressed Singapore’s experience and the role of the Monetary Authority of Singapore in guiding regulated investment institutions to support the transition to clean energy and the consequent need for report transparency. At the end of the panel discussion, input and questions from attendees were heard and addressed by the speakers.
Finally, it should be noted that this event is part of CMA’s keenness to perform its awareness role, particularly in sustainability, due to the international developments related to it and its impact on the entities subject to its supervision.
In conclusion, the CMA seizes this opportunity to extend heartfelt gratitude to the speakers for their valuable contributions to this event and enriching its discussion.