Akin capital markets accomplice, Rizwan Kanji, has been quoted by IFLR for his article “ESG strikes up on corporates’ precedence lists within the Middle East”.
The article cites authorities initiatives on web zero targets, disclosure frameworks and company governance codes as key drivers for the spike in company engagement with ESG issues within the area.
Speaking on the rise of inexperienced bond issuances over the previous couple of years, Rizwan mentioned “This is an efficient reflection of the expansion on this explicit area within the area”.
“Additionally, the internet hosting of COP28 has undoubtedly offered impetus for the expansion of this trade,” he provides. “Sovereign-related entities have come to the market and created a constructive outlook for this nascent market within the area.”
Turning to the way forward for ESG within the Middle East and the challenges that lay forward, Rizwan added “The price of issuance is one thing that ought to be thought-about”, explaining that with inexperienced bonds, there’s a continued price contemplating the disclosure obligation.