Mr. Mazen Wathaifi Chief Executive Officer of Amman Stock Exchange (ASE) said that 100% of the listed companies which are obligated to submit their annual sustainability report for the year 2024, totaling 23 companies, have provided the ASE with the report within the specified period mentioned in the rules issued by the ASE, through the e- disclosure system XBRL, noting that the Arab International for Education & Investment company has issued the mentioned report for the first time. This high percentage reflects the compliance of these companies with laws and regulations, as well as their concern for environmental, social and governance (ESG (issues.
Mr. Wathaifi clarified that in accordance with the sustainability reporting rules, the companies included in the ASE20 index sample, as well as any company that was part of the mentioned index sample, are required to provide their sustainability report in accordance with the GRI standards, within six months from the end of its fiscal year if it is stand-alone report, or within three months of the end date of its fiscal year if the company incorporated the sustainability report with its annual report.
Wathaifi added that the ASE posts the sustainability reports on the ASE website www.exchange.jo under Circulars and Disclosures/sustainability reports window. He also indicated that obligating the listed companies in the ASE20 index sample since 2022 to issue a sustainability report came to enhance the attractiveness of listed companies, and to increase transparency and disclosure in the national capital market, especially with regard to compliance with sustainability standards, whereas sustainability report helps increase knowledge on companies' performance and achievements at all levels and it indicates the company's commitment and interest in environmental, social responsibility and governance issues, in light of the increasing interest in this information by local and foreign investors due to its importance in making investment decisions.
Wathaifi also noted that BANK AL ETIHAD company submitted its first Climate-related Disclosures Report for the year 2024, in accordance with the guidance, regulatory framework, and disclosure policy on climate-related information issued by the ASE, and in aligned with IFRS standards. The report was submitted ahead of the mandatory period set by the ASE, within the regulatory framework, which requires companies included in the ASE20 index sample to submit climate-related disclosures in two phases: the first being voluntary, starting in 2026 for 2025 data, and the second mandatory, starting in 2027 for 2026 data.