EGX Sustainability Foundation Signs Protocol with DCarbon

Egyptian Exchange Posted

Dr. Mohamed Farid, Executive Chairman of EGX, witnessed the signing ceremony of cooperation agreement between EGX Sustainability Foundation and DCarbon Company, the regional representative of Global Reporting Initiative (GRI), agreeing on a comprehensive training program for listed companies, on ESG & TCFD reporting, in accordance with international best practices in this regard.

The training program is divided into patches, each patch is for two days with the participation of 30 companies, to develop their knowledge in preparing sustainability reports for various sectors.  Participants will receive certificates from Global Reporting Initiative; GRI upon completing the course.

This step comes in line with Egypt hosting COP27 Climate Change Conference in Sharm El-Sheikh in November 2022, and in line of the Egypt’s plan towards achieving sustainable development goals in accordance with Egypt’s Vision 2030.

Dr. Mohamed Farid, Executive Chairman of EGX, said that EGX’s management has a comprehensive vision to support and develop the listed companies’ skills to prepare disclosure reports on sustainability activities as well as the effects related to climate change.

He added, “The training program enhances the participation of listed companies in sustainability activities and raise their efficiency in preparing disclosure reports, in a way that supports the Egypt’s efforts in achieving Egypt’s 2030 vision, on the one hand, and encourages investments in companies that are committed to the requirements of disclosure of activities. Sustainability is different and is much broader than just environmental disclosures.

Dr. Ehab Shalaby, Chairman of DCarbon, and the regional representative of GRI in Egypt, Middle East and the Arab region, indicated that cooperation with EGX Sustainability Foundation comes as one of the tasks for the development of listed companies capabilities on how to make a sustainable business models and prepare sustainability reports in accordance with the most effective global principles, and standards in the world.

He thanked EGX’s management for this approach in working to develop the capabilities of listed companies in accordance with the best international standards and principles.