MSX, Crowe organise ESG reporting workshop

The Muscat Stock Exchange (MSX) and Crowe Oman, a leading audit and advisory firm, last week organised a collaborative two-day workshop on Environmental, Social and Governance (ESG) reporting.

The workshop, titled 'ESG 30 Metrics Masterclass,' was held on May 7th and 8th at the Novotel Hotel in Muscat. Delegates from almost all the listed companies in Oman and a few government institutions attended the workshop.

Speaking at the event, Haitham al Salmi, CEO of MSX, said that the Muscat Stock Exchange is leading the initiative to improve the corporate reporting of ESG activities, aligned with Oman Vision 2040, which aims to achieve net-zero emissions by 2050.

Davis Kallukaran, Managing Partner of Crowe Oman, said, “Oman is at the forefront of embracing best practices in the Middle East, whether in environmental sustainability or corporate governance. This is evident from Oman’s Vision 2040 strategic objectives.”

He explained that the term 'ESG 30 Metrics' refers to a set of metrics used to measure an organisation's environmental and social impact, which has become increasingly important in investment decision- making over the years.

During the first session of the workshop, Karl Jackson said, “ESG is no longer a fringe concept but a mandatory consideration for both companies and investors. Today, ESG data is used to evaluate a company’s performance on specific environmental, social, and governance issues. Companies are required to report on the environmental and social impact of their business activities, as well as the impact of their ESG initiatives.”