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Abu Dhabi Securities Change (ADX) has partnered with Russell to introduce the FTSE ADX ESG Screened Index, a transfer aimed toward enhancing sustainable funding practices. The announcement made Tuesday by ADX chief govt Abdulla Al Nuaimi underscores the trade’s dedication to sustainability forward of the COP28 local weather change summit.
The brand new index, which assesses firms primarily based on their environmental, social, and governance (ESG) efficiency, makes use of knowledge supplied by LSEG Information and Analytics. This initiative is a part of a broader technique to place the UAE as a worldwide hub for accountable funding.
The collaboration between ADX and FTSE Russell started in 2021, with the target to draw world buyers by way of clear indices. The FTSE ADX ESG Screened Index includes 24 firms chosen from the prevailing FTSE ADX Normal Index. Fiona Bassett emphasised the significance of this benchmark in supporting the UAE’s agenda for financial sustainability.
In recent times, ADX has made strides in advancing its ESG efforts. This consists of the launch of its first Sustainability Report in 2020 and the collaboration on unified GCC ESG Disclosure Metrics. The trade has additionally seen a notable improve in inexperienced finance listings, such because the Dh1.3 billion Inexperienced Sukuk from First Abu Dhabi Financial institution, in addition to Inexperienced Bonds from Masdar and TAQA.
Established twenty years in the past and restructured right into a Public Joint Inventory Firm (PJSC) in March 2020 below legislation No. (8), ADX operates below the umbrella of ADQ as a part of Abu Dhabi’s strategic imaginative and prescient for financial diversification. FTSE Russell, affiliated with the London Inventory Change Group (LON:), is a worldwide index chief that develops indices guiding each institutional and retail buyers’ choices worldwide. The creation of the FTSE ADX ESG Screened Index marks a major step in ADX’s journey in direction of integrating sustainable practices into its core operations and choices.
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