Annual Rebalance of the S&P/Hawkamah ESG Pan Arab Index Announced
Annual Rebalance of the S&P/Hawkamah ESG Pan Arab Index Announced
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London, December 15 2014 – The S&P/Hawkamah ESG Pan Arab Index underwent its annual rebalancing on 1 December 2014. The index includes the top 50 Pan Arab companies based on their performance on nearly 200 ESG metrics and uses an innovative ESG score-weighting scheme to ensure stocks with higher ESG scores have a greater influence on the index than those with lower ESG scores. David Blitzer, Managing Director and head of the Index Committee at S&P Dow Jones Indices said: “Following this year’s rebalance, Saudi Arabia is the largest country in the index, with 11 constituents and a total weight of 21.54%. The two largest stocks in the index are DP World of Dubai and the National Bank of Abu Dhabi, which make up 2.91% and 2.79% of the index respectively, due to their high ESG score. While stocks from the Financials sector continue to dominate the index with 52.36%, there are now 8 representatives from the Telecommunications sector, which now represents 15.96% of the index.” Dr. Ashraf Gamal, Chief Executive Officer of Hawkamah, said: ‘As part of Hawkamah’s work on the index, we annually analyze the ESG disclosure practices of MENA listed companies. Now, Hawkamah has data covering the past seven years, so investors have better time series on which they can base their investment decisions. What we can say with confidence is that the trends are encouraging as we continue to see significant year-on-year improvements. The various corporate governance codes issued by the region’s regulators and corporate governance centers in the last few years have played a key role in these improvements. Companies are now seeing the value of better disclosure and many of them are striving to adopt international best practices. We are equally encouraged by the index performance over the years.’

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  • ‘’There was no doubt that once we communicate with Hawkamah for a workshop, we were sure that we will achieve our goals and get an added value. And thats what happened; we got a lot of positive feedback from participants which confirms the success of the company secretary 2 days workshop which took place in Manama – Bahrain as well as the fruitful feedback on the knowledgeable and insightful trainers and experts. We would be more than happy to have such cooperations in the future since we consider Hawkamah our patterner in success’’

    Faisal Al-Modlij - GM, Corporate Affairs and Governance - Sipchem KSA

  • "We extend our thanks and appreciation to Hawkamah institute for its cooperation and the effectiveness of the Director Development Program"

    Saeed Al Kaabi - Abu Dhabi Monitoring and Controlling Centre(ADMCC)

  • "The Director Development Program was very rich in useful information and added a lot to us, and the trainers’ experience, skills and capabilities had positive impact on delivering the information to us in a direct and clear manner"

    Hamad Al - Tamimi - Osool Asset Management

  • The corporate Governance in all type of entities adds morality and ensures implementation of the best practices to fulfill the responsibilities of those entities and to ensure the rights of all parties involved, especially those who have no authority to participate in the decision-making cycle.

    Hawkamah institute contributed to enrich the knowledge of these responsibilities and the role of governance for the success of institutional work in accordance with principles that establish values and ethics.

    Ajman Municipality

  • '‘Excellent, well delivered, informative program presented by well-seasoned trainers. The training program has helped transform and empower the Board’s vision and focus our minds on the relevant issues at hand. We sincerely thank you for the training sessions which helped broaden our perspective and decision making processes. We strongly recommend this training to elevate directors to the next level".

    Bank of Maldives

  • "I would like to thank Hawkamah for the ESG Reporting training , I found the two days ESG Reporting training very informative and helpful and I have definitely received some tools that I will use in my work"

    Rania Zaatari - Head of Makassed Communal Healthcare Bureau

  • "The DDP provides a solid foundation of corporate governance for existing and aspiring directors."

    David Haglund - Senior Executive Director and Portfolio Manager of the Templeton Frontier and MENA Market strategies

  • “Thank you so much for sharing such insightful webinar. It was great and valuable to all participate”

    Shady Rashed - Senior Economic Researcher at The Ministry of International Cooperation of Egypt

  • “Good session and very well organized on the webinar about How to buffer and lessen the impact of the novel Covid – 19, to maintain business sustainability with Hawkamah - AUB / Makhzoumi” 

    Bilal Hamade - Executive Advisor

  • "One of the best webinars I attended. Well done OSB Makhzoumi and Hawkamah”

    Fida Kanaan – Director – Executive education  OSB AUB

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