SSE supports MSX’s efforts in promoting ESG best practices

16 January 2023

On the 20th of December 2022, the UN SSE initiative was invited to address the signing ceremony where the Muscat Stock Exchange signed three memorandums of understanding (MOU) with three of its local sustainability partners: the Ministry of Social Development (MOSD), the Environment Authority (EA), and the Ministry of Commerce, Industry and Investment Promotion (MOCI). The signing ceremony was held in Sheraton Hotel on Tuesday the 20th of December 2022 and included the participation of Haitham Al Salmi (CEO, MSX), H.E Sheikh Rashid Al Shamsi (Undersecretary, MOSD), Ahmed Al Siari (Advisor of H.E. Executive President of EA), Mubarak Al Dohani (General Manger, MOCI), H.E. Sheikh Abdullah Al Salmi (Executive President, CMA) and the virtual participation of Anthony Miller (Coordinator, UN SSE initiative). The Memorandums of Understanding will help regulate ESG (Environmental, Social, Governance) practices and help promote sustainable finance in the Omani market through the implementation of international benchmarks aligned with the Sustainable Development Goals (SDGs).  Complementary to this event, MSX held an introductory workshop on the “Fundamentals of ESG and Sustainability” lead by Monaem Ben Lellahom, Group CEO, Sustainable Square, followed by a panel discussion on the “Business Case of ESG and Sustainability”. MSX has been a member of the SSE since 2022, and this multi-stakeholder commitment is a promising step to address financial sustainability challenges in the market. The UN SSE congratulates MSX for its efforts in promoting sustainable markets and looks forward to working with MSX to support its ESG activities.

About the SSE

​The SSE initiative is a UN Partnership Programme organised by UNCTAD, the UN Global Compact, UNEP FI and the PRI. The SSE’s mission is to provide a global platform for exploring how exchanges, in collaboration with investors, companies (issuers), regulators, policymakers and relevant international organizations, can enhance performance on ESG (environmental, social and corporate governance) issues and encourage sustainable investment, including the financing of the UN Sustainable Development Goals. The SSE seeks to achieve this mission through an integrated programme of conducting evidence-based policy analysis, facilitating a network and forum for multi-stakeholder consensus-building, and providing technical assistance and advisory services.