(Dubai, 15 June 2016) Dubai Financial Market (DFM) today announced that it has become a Partner Exchange member of the United Nation’s Sustainable Stock Exchanges (SSE) initiative, as part of a global effort to promote sustainability of performance and transparency in capital markets. As a Partner Exchange, the DFM will join forces with international efforts to spearhead sustainability practices among capital markets.
Commenting on this development, His Excellency Essa Kazim, Chairman of DFM said; “Since its inception in the year 2000 and through its momentous journey, DFM has been playing a pivotal role as a dynamic driving force for the development of the capital markets sector in the Middle East. The DFM has implemented numerous initiatives that significantly strengthened transparency, Corporate Governance and sustainability for market participants and the DFM as a publicly listed company.”
“Last year world leaders agreed on the Sustainable Development Goals, while acknowledging the enormous investment gap between what is currently invested in SDG sectors and what is needed,” said James Zhan, Director of Investment & Enterprise at UNCTAD. “We welcome Dubai Financial Market (DFM), as part of the Sustainable Stock Exchanges initiative and encourage them to join other stock exchanges around the world in the development of innovative financing mechanisms and the promotion of corporate sustainability to help us achieve the global goals.”
“DFM’s initiatives underline our deep belief in the importance of transparency and governance as major factors in the companies’ efficiency and sustainability. We are pleased to join the SSE initiative, which clearly indicates that DFM is fully committed to promoting sustainability and transparency in capital markets through dialogue with investors, companies and regulators, to promoting long-term sustainable investment and improved environmental, social and corporate governance disclosure and performance among DFM-listed companies,” added H.E. Essa Kazim.
It is noteworthy that the DFM will take part in the SSE’s upcoming Global Dialogue scheduled to take place in Singapore on 6 September 2016, with the aim to share best practices on sustainability and capital markets. The Dialogue will build on the launch of the United Nations Sustainable Development Goals and the outcomes of the United Nations Paris Summit on Climate Change. The 2016 SSE Global Dialogue will provide a platform for stock exchanges to meet with their peers and stakeholders to evaluate the impact of new global sustainable development on capital markets.
“UNEP FI is pleased to be working with capital market leaders to help facilitate the transition to a low carbon and green economy,” said UNEP FI head Eric Usher. “We welcome the public commitment of the Dubai Financial Market to promote sustainable investment and support better corporate sustainability policies. Under the auspices of the Ministry of Climate Change and Environment of the UAE, and to further engage with regional financial market players, UNEP FI will host its first ever Global Roundtable in Dubai on 25 & 26 October 2016,” Mr. Usher added. For more information on the roundtable – please click here.
About Dubai Financial Market
Dubai Financial Market (DFM) was established as a public institution with its own independent corporate body. DFM operates as a secondary market for the trading of securities issued by public shareholding companies, bonds issued by the Federal Government or any of the local Governments and public institutions in the country, units of investment funds and any other financial instruments, local or foreign, which are accepted by the market. The DFM commenced operations on March 26, 2000. Following its initial public offering in November 2006, when DFM offered 1.6 billion shares, representing 20 per cent of its paid-up capital of AED 8 billion, DFM became a public joint stock company. Following the IPO, the Government of Dubai retained the remaining 80 per cent of DFM Company through Borse Dubai Limited. www.dfm.ae
