MANAMA, BAHRAIN: Bahrain Bourse (BHB) has announced collaboration with Oxford Business Group (OBG) to produce a series of individual reports and other research tools to track the environmental, social and governance (ESG) journeys of companies listed on Bahrain Bourse, a news release said.

The reports marks the latest addition to OBG’s suite of bespoke resources and are a reflection of the growing importance that firms are attaching to ESG as they plot their recovery from the impact of Covid-19 and prepare their plans for growth.

BHB’s bid to encourage ESG disclosure amongst listed companies will be a key focus. Oxford Business Group (OBG) research will analyze the steps publicly listed companies are taking to adopt and fully embrace Environmental, Social, and Governance disclosures.

Commenting on the partnership, Director of Marketing and Business Development, Marwa Al-Maskati said that “Assisting listed companies in their ESG journey and meeting the changing investor demands – both of which are core activities for Bahrain Bourse – had sharpened the focus on the importance of ESG disclosures.”

Jana Treeck, OBG’s Managing Director, said that by incorporating ESG disclosures into their plans, listed companies are supporting the potential capital market classification of Bahrain into an emerging market status through positioning the market within the radars of international institutional investors.

 “Bahrain Bourse’s efforts to highlight the importance of ESG reporting is already delivering results, with 33% of companies listed on the exchange – accounting for 77% of the market cap –are reporting on ESG,” Treeck said. “As the financial market continues to deepen, we expect to see Bahrain Bourse increase its contribution to the country’s recovery from the twin shocks of Covid-19 and lower oil prices, with the economy benefiting from greater private-sector participation.”

The ESG research tools will be available alongside OBG’s other highly relevant business intelligence resources, including a range of country-specific growth and recovery outlook articles and interviews.

It is worth noting that Bahrain Bourse issued its Environmental, Social and Governance (ESG) Voluntary Reporting Guideline for listed companies in June 2020. The voluntary reporting guideline aims to increase awareness and understanding of the importance and benefits of ESG reporting and assist listed companies to address ESG issues in their reporting to meet the requirements of institutional investors for material ESG information. BHB has been reporting on its own ESG disclosures for the second consecutive year. Bahrain Bourse also issued recently its Investor Relations Best Practice Guide.