Regulatory Alerts2023-09-17
ESG Reporting Guidelines
The Central Bank of Bahrain has issued a consultation proposing mandatory ESG disclosures for listed companies and regulated financial licensees in their annual reports and financial statements. The regulator aims to align these disclosures with Bahrain’s sustainability development goals and requires full implementation for the fiscal year ending 31 December 2024. Stakeholders are invited to submit readiness assessments and implementation feedback by 17 September 2023 via the CBB’s open consultations portal.
Central Bank of Bahrain مصرف البحرين المركزي
OG/277/2023 17th August 2023
Chief Executive Officer Listed Companies All Banks All Insurance Firms All Financing Companies All Category 1 Investment Firms All Category 2 Investment Firms Manama Kingdom of Bahrain
Dear Sir/ Madam,
Consultation: ESG Reporting Guidelines
As part of the Central Bank of Bahrain’s (CBB) objective to ensure adoption of ESG Standards consistent with the Government of Bahrain’s commitment to Sustainability Development Goals, the CBB is hereby proposing the adoption of ESG disclosures to be made in the licensees’ annual reports/ financial statements (reports) as per the ESG Reporting Guidelines (attached).
In this respect we seek your input with regards to your readiness as well as the time period needed for full implementation of these guidelines. The CBB is considering requiring listed companies and CBB licensees to whom this circular is addressed to implement these guidelines for the year ending 31st December 2024.
The proposed guidelines will be available on the CBB website (www.cbb.gov.bh) under the “open consultations” section.
The CBB requests you to provide your comments, including “nil comments” on the proposed guidelines in an editable format to consultation@cbb.gov.bh by 17th September 2023.
Yours faithfully,
[Signature]
Rasheed M. Al-Maraj Governor
cc: Bahrain Association of Banks Bahrain Bourse Audit Firms Law Firms
هاتف 17547500 973+، فاكس 17537799 973+، ص.ب 27 المنامة، مملكة البحرين T +973 1754 7500, +973 1754 7555, F +973 1753 7799, P.O. Box 27, Manama, Kingdom of Bahrain, www.cbb.gov.bh