MSX signs Net Zero 2050 Pledge
This significant step is an important contribution to global efforts to combat climate change and promote sustainability principles
The Muscat Stock Exchange (MSX) participated in the annual conference of the Arab Capital Markets Federation 2024, held in the Qatari capital, Doha.
The opening session was held under the auspices of Shaikh Mohammed bin Abdulrahman al Thani, Prime Minister and Minister of Foreign Affairs of Qatar, and brought together over 250 delegates.
These delegates represented Arab stock exchanges, brokerage firms, settlement and clearing companies, asset management institutions, government financial institutions, central banks, investment banks, regulatory bodies, data providers in financial markets and regional associations.
The conference discussed issues of sustainability, investor relations, Islamic finance, financial technology, digital assets and artificial intelligence applications in Arab financial markets.
On the sidelines of the conference, the Muscat Stock Exchange, along with three other Arab exchanges, became the first to sign the Net Zero Pledge outside of regular climate conferences. This brings the total number of global signatories to 15.
Haitham bin Salem al Salmi, CEO of the Muscat Stock Exchange, commented, “I am
HAITHAM BIN SALEM AL SALMI CEO MSX
delighted to announce that the Muscat Stock Exchange has signed the Net Zero Pledge by 2050 and joined the Exchange Zero Net initiative of the United Nations Sustainable Stock Exchanges (UNSSE) programme. This significant step is an important contribution to global efforts to combat climate change and promote sustainability principles. It supports a green and sustainable economy in achieving net neutrality goals and embodies our deep commitment to protecting the earth.”
He continued, “The Muscat Stock Exchange believes that sustainability is a shared responsibility. We recognise that climate change poses a serious threat to our future. Therefore, we are announcing a series of strategic steps to achieve our ambitious goal. This includes developing an annual reduction plan for net zero emissions. We will design a plan to gradually reduce carbon emissions until we reach net zero by 2050. This plan will encompass multiple actions, including improving the energy efficiency of our offices and facilities, exploring the use of renewable energy sources, supporting sustainability projects within our listed companies, and providing support and encouragement to listed companies to reduce their emissions.”
“We will also work to ensure transparency and disclosure about environmental, social and governance (ESG) standards and the efforts made by listed companies. This will further encourage them to adopt sustainable practices,” Al Salmi added.
The CEO concluded by stating, “The Stock Exchange’s commitment to achieving net zero goals, increasing reliance on clean energy, and implementing green development will contribute to strengthening the Muscat Stock Exchange’s position as a global leader in sustainability. This aligns with the Stock Exchange’s operations and objectives, which will attract more investors and those interested in sustainable practices. It will also enhance economic growth. Our steps will inspire future generations to adopt sustainable practices and protect the planet. This fosters integration and harmony in efforts made to combat climate change and achieve sustainable development, in line with Oman Vision 2040 for a sustainable economy.”