95% of ASE listed companies included in the ASE20 index sample complied with the requirement to submit their sustainability reports before the end of the specified period

Mr.Mazen Wathaifi Chief Executive Officer of Amman Stock Exchange (ASE) said that 95% out of 20 listed companies in the ASE20 index sample have provided the ASE with their sustainability reports for the year 2022 during the specified period mentioned in the rules regulating sustainability report provided to the ASE, through the e- disclosure System XBRL, noting that approximately 74% of these companies are issuing the report for the first time. This high percentage reflects the compliance of listed companies with the laws and regulations, and the compliance of such companies with the principles of transparency and disclosure about their environmental, social and governance (ESG (practices according to the rules issued by the ASE in 2022.

Mr. Wathaifi added that in accordance with the rules mentioned above which became effective this year 2023, the listed company included in the ASE20 index sample should provide its 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 clarified that the ASE posts the stand-alone sustainability reports on the ASE website www.exchange.jo under Circulars and Disclosures/sustainability reports window, and that one company, the INVEST BANK company, provided the ASE with its sustainability report incorporated with the annual report which has been circulated under Circulars and Disclosures /annual financial reports, noting that one company, BANK OF JORDAN, did not provide the ASE with its sustainability report within the specified period.

Wathafi also indicated that obligating the listed companies in the ASE20 index sample 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, as the disclosure of information related to sustainability within the 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. It also contributes to facilitating access to this information for all parties, and allows them to evaluate the company's performance and form a comprehensive view which will enable them to make their investment decisions objectively and clearly, in light of the increasing interest in this information by investors due to its importance in making investment decisions.

It is worth mentioning  that the ASE efforts began with spreading awareness and defining the importance of sustainability and disclosing information related to it and apply sustainability standards (environment, social responsibility and governance), when it has joined the Sustainable Stock Exchanges initiative (SSE initiative) in 2016. Since then it has prepared a number of introductory brochures on sustainability, in addition to the guidance on sustainability reporting, with the aim of encouraging companies to adopt sustainability practices and to disclose them periodically. The ASE also organized during the year 2021 in cooperation with the United Nations Development Program (UNDP) and the United Nations Global Compact Network in Jordan (UN Global Compact Network) many training workshops for representatives of companies included in the ASE20 index sample to introduce the importance of issuing sustainability reports and how to prepare them according to the latest standards. In addition, in September 2022, the ASE has signed an agreement with the International Finance Corporation (IFC), to spread awareness and culture related to the disclosure of information related to climate change, and thus the ASE is the first in the region and the fifth worldwide to launch such an initiative.