DFM launches index to gauge UAE listed companies’ commitment to ESG – The National

DFM launches index to gauge UAE listed companies’ commitment to ESG – The National

DFM launches index to gauge UAE listed companies' commitment to ESG. The new index is a collaboration with S&P Dow Jones Indices and the Hawkamah Institute for corporate governance. The Dubai Financial Market, the only listed bourse in the GCC, on Wednesday launched the UAE Index for environment, social and governance (ESG), the first benchmark of its kind in the region that will gauge how responsible listed firms in the country are.. Developed in cooperation with S&P Dow Jones Indices and the Hawkamah Institute for corporate governance, the index is backed by the market regulator, the UAE Securities and Commodities Authority, the DFM said in a statement on Wednesday.. The new index will enhance the confidence of investors in the UAE capital market, he added.. The S&P and Hawkamah UAE ESG index initially includes 20 listed companies and is based on five years of past performance.. In February, Abu Dhabi Securities Exchange announced a tie-up with competing index provider FTSE Russell to provide a number of sector-specific indexes, as well as indexes of ESG and Sharia-compliant companies.. An increasing number of investment firms are joining the Climate Action 100+ group that represents around $41tn in assets and includes more than