The Dubai Financial Market (DFM) said Wednesday it has become a partner exchange member of UN's Sustainable Stock Exchanges (SSE) initiative, as part of a global effort to promote sustainability of performance and transparency in capital markets.
As a member, the DFM said in an e-mailed statement will join forces with the international efforts to spearhead sustainability practices amongst capital markets.
Essa Kazim, Chairman of the DFM said since its inception in the year 2000 and through its momentous journey, DFM has been playing a "pivotal role as a dynamic driving force for the development of the capital markets sector in the Middle East."
He added that the DFM has implemented numerous initiatives that significantly strengthened transparency, Corporate Governance and sustainability for market participants and the DFM as a publicly listed company.
"Last year world leaders agreed on the Sustainable Development Goals (SDG), while acknowledging the enormous investment gap between what is currently invested in SDG sectors and what is needed," said James Zhan, Director of Investment and Enterprise at UNCTAD (United Nations Conference on Trade and Development).
He said he welcomes DFM as part of the Sustainable Stock Exchanges initiative and encourage them to join the development of innovative financing mechanisms and the promotion of corporate sustainability to help us achieve the global goals.
Kazim pointed out that the DFM is fully committed to promoting sustainability and transparency in capital markets through dialogue with investors, companies and regulators, to promoting long-term sustainable investment and improved environmental, social and corporate governance disclosure and performance among DFM-listed companies.
DFM will take part in the SSE's upcoming Global Dialogue scheduled to take place in Singapore on September 6 2016, with the aim to share best practices on sustainability and capital markets.
DFM is the local stock market of the sheikhdom of Dubai which is part of the United Arab Emirates (UAE).