IFC, a member of the World Bank Group, is helping develop an index that will encourage responsible and sustainable investment practices in the Middle East and North Africa by measuring the environmental, social, and corporate governance performance of listed companies in the region.
IFC is supporting efforts of the Hawkamah Institute for Corporate Governance, indices and ratings provider Standard & Poor's, and Credit Rating and Information Services of India to develop the environment, social and governance (ESG) index, the first of its kind to be launched in the region.
The index will help some 600 listed companies in 11 countries better understand environmentally and socially responsible investment practices, and the importance of implementing sound corporate governance.
Dr Nasser Saidi, Executive Director of Hawkamah, said: "Environmental, social, and governance factors are playing a growing role in investment decisions in our region."
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