Egyptian Stock Exchange (EGX) Chairman Rami El-Dokany last week affirmed EGX’s willingness to continue striving to increase the efficiency and depth of the national capital market by diversifying options investment, in particular those having a societal and environmental impact.
This happened during his participation in the activities of the second edition of the f Egypt-ICF 2022 and the Meeting of African Ministers of Finance, Economy and Environment for COP27held in Cairo from September 7-9 and discussed African governments’ preparations for the upcoming United Nations Conference of the Parties on climate change to be held in Sharm el-Sheikh in November.
El-Dokany said EGX was the first in the region and the second internationally to launch a sustainability index – the S&P/EGX ESG Index – according to Standard & Poor’s methodology, taking its first steps in setting implementation of the UN’s sustainable development agenda. Sustainable Development Goals and Practices (SDGs) and make the SDGs feasible for measurement and investment by training listed companies on how to formulate and publish sustainability reports.
He also highlighted EGX management’s pursuit to continuously train and improve the capacity of investor relations officers in listed companies – particularly on sustainability-related issues – to develop tools and mechanisms for communication with investors that affect sustainability metrics and efforts in their investment decisions. .
He added that the voluntary carbon certificate exchange platform, which EGX is developing, will make Egypt a strategic center for all African projects from various economic sectors with the aim of obtaining economic returns from plans and efforts to reduce carbon emissions and adhere to sustainable development goals and practices.
On the other hand, he stressed the need to pay attention to improving the quality of data announced on projects aimed at reducing carbon emissions, pointing out that the limited data available on this type of projects in Africa affects the capacities of these projects to obtain suitable financing.