Dubai Chamber of Commerce, MOCCAE organise workshop to strengthen ESG reporting practices

Dubai: Dubai Chamber of Commerce, one of the three chambers operating under the umbrella of Dubai Chambers, recently organised a workshop in cooperation with the Ministry of Climate Change and Environment (MOCCAE). The session aimed to raise awareness of best practices in Environmental, Social, and Governance (ESG) reporting and expand their adoption across the business community. Hosted by the chamber’s Centre for Responsible Business, the workshop highlighted the importance of accelerating the adoption of sustainability reporting requirements and ensuring companies can keep pace with the latest developments in regulatory frameworks. The session also focused on supporting companies in moving towards more effective disclosure practices that are aligned with approved standards. The workshop attracted 130 participants and brought together ESG and sustainability professionals, business leaders, and experts in the fields of finance, risk management, and strategy. Discussions focused on the growing need to strengthen reporting practices. The workshop aimed to address gaps in reporting by outlining the latest regulatory requirements and sharing practical insights from market leaders. This supports companies in adopting disclosure practices that are more effective and aligned with compliance requirements. Maha Al Gargawi, Vice President of Business Advocacy at Dubai Chambers, said: “We are committed to supporting companies operating in Dubai and helping them align with evolving requirements and standards in sustainability reporting. The chamber is doing this by raising awareness and providing the knowledge and tools needed to adopt global best practices. These efforts contribute to strengthening compliance, building trust among investors, partners, and stakeholders, and supporting companies in achieving sustainable long-term growth. They also enhance the competitiveness of Dubai’s business community and reinforce the city’s position as a leading global hub for business and investment.” Representatives from the United Nations General Protocol for SDGs (UNGP) provided an overview of ESG reporting frameworks, while the Ministry of Climate Change and Environment delivered the latest updates on climate reporting requirements under Federal Decree-Law No. (11) of 2024 on the Reduction of Climate Change Effects. The Capital Market Authority (CMA) also reviewed regulatory requirements and expectations for companies listed on financial markets. The workshop highlighted the practical experiences of companies that have previously been awarded the Dubai Chamber of Commerce ESG Label. Representatives from ALEC Holdings and Salik shared valuable insights on sustainability reporting, including real-life examples of the successful adoption of ESG best practices. Since its establishment, Dubai Chamber of Commerce’s Centre for Responsible Business has played a pivotal role in promoting responsible and sustainable business practices in the emirate. The centre remains committed to supporting and encouraging companies to adopt best practices in ESG to enhance their performance, increase competitiveness, and enrich their social and environmental contributions.