MSX is committed to providing an ecosystem for sustainable business practices. As part of this commitment, the Sustainable Investment (SI) section has evolved into the SI Center. The SI Center not only monitors ESG practices within MSX but also takes a comprehensive approach by overseeing and supporting listed companies in disclosing their ESG practices and initiatives through a multilateral governance framework. This framework encompasses ancillary reports, guidelines, and projects, preparing local listed companies for the global shift towards mandatory ESG disclosures in sustainable investment development.
In alignment with these efforts, MSX launched the MSX ESG guidelines and introduced the platform in 2023. This initiative not only emphasizes MSX's dedication to imposing ESG disclosures on listed companies but also reinforces ethical business practices and corporate governance standards. The evolution of the SI section to the SI Center further demonstrates MSX's proactive role in fostering sustainability within its operations and among listed companies.
1- Green initiatives, environment friendly initiatives. These
include;
ü
Reducing the use of single-use plastic bottles and eliminating them completely by the end of 2025. There has been a 22.27% decrease in the cost of single-use plastic water bottles per employee between 2022 and 2023.
ü
Reducing
the use and waste of paper through digitizing all documents and centralized and
controlled printing services.
ü
Awareness
campaigns to encourage recycling and adopt “environment- friendly” practices.
ü
Efficient
use of energy through reducing consumption and shifting to smarter systems.
ü
Switching
to clean/ alternative energy to operate MSX facilities.
ü
Managing
waste and introducing recycling initiatives.
ü
Reducing
the use and consumption of water through installing dynamic systems that work by sensors.
2-Ethical investment, diversity, employee wellness.
ü
Implementing
gender inclusive and diverse policies and practices by providing equal
opportunities and equal pay
ü
Eliminating any gender discriminatory practices, such as gender specifications (f/m) in job postings. As a result, there has been a 25% increase in the number of female employees.
ü
Increasing
employee turnover, through internal job postings /promotions \
ü
Enforcing
modern HSE practices and increasing employee wellness by
procuring special offers and discounts.
ü
Investing
in staff development and training.
ü
Engaging
with the local investor community regularly through workshops, seminars, and
conferences to keep up transparent flow of information.
ü
Supporting
local business to provide ethically sourced products and services.
ü
Introducing
graduate training programs to provider paid internships to local fresh
graduates.
3-Corporate Governance practices.
ü
Maintaining
the separation between CEO and Chairman’s functions.
ü
Maintaining
a non-executive board of directors.
ü
Ensuring
complete compliance with applicable laws and regulations and shareholder
guidelines and regulations.