A United Nations committee has selected Egypt's stock market as a reference model for communication between stock exchanges, praising Egypt’s market efforts in the field of sustainability.
“The United Nations sustainability committee, formed as per the UN initiative for the stock exchanges’ sustainability (UN-SSE), chooses the Egyptian Exchange (EGX) as a reference model for communication between the stock exchanges and the other market participants,” Egypt Exchange announced in a statement on Sunday.
“The Committee expressed its appreciation for EGX efforts in the sustainability field, and praised EGX’s model for the effective communication with the market’ parties, and called the initiative’ members of the other stock exchanges to follow both of EGX and the Brazilian Stock Exchange 'Bovespa' as pioneered models in this field,” it added.
Dr. Mohammad Omran, EGX Chairman, stated that EGX’s participation as a leader in the Middle East and North Africa region in the stock markets’ sustainability initiative started with the initiative’ launch since 2012 as one of the five founders’ stock exchanges for that initiative (which are EGX, Nasdaq, Bovespa, Johannesburg Stock Exchange and Istanbul Stock Exchange of Turkey), where the UN General Secretariat for Trade and Development (UNCTAD) called the rest of the world's stock exchanges to follow the five models’ stock exchanges in their commitment for the sustainability criteria.
