Regulatory Alerts2021-01-01
General Authority for Financial Supervision Board Resolution No. (107) of 2021
The General Authority for Financial Supervision issued Board Resolution No. 107 of 2021 to mandate ESG and climate-related financial disclosure guidelines for all non-banking financial companies. The resolution establishes standardized performance indicators across environmental, social, governance, and climate risk categories, requiring companies to report on governance structures, strategic alignment, risk management processes, metrics, and targets. Recent amendments through December 2022 refined these requirements to ensure consistent transparency regarding sustainability practices and their financial impacts.
Board Resolution No. (107) of 2021 dated 5 July 2021 Regarding the disclosure guidelines for companies operating in all non-banking financial activities regarding environmental, social, and governance (ESG) practices related to sustainability and the financial impacts of climate changes Last amended on 28 December 2022, in accordance with Board Resolution No. 196 of 2022 dated 28 December 2022.
General Authority for Financial Supervision Board Has resolved:
(Article One)
- The Resolution was amended by Board Resolution No. 196 of 2022 dated 28 December 2022.
(Article One bis) 2. Article One was added (bis).
(Article Two)
(Article Three) 2. Article One was added (bis) by Board Resolution No. 196 of 2022 dated 28 December 2022.
Appendix (1) Performance indicators related to environmental, social, and governance (ESG) disclosure practices
| Action Taken by the Company | Answer (Yes/No) | Comment or Explanation |
|---|---|---|
| Performance Indicators related to ESG Disclosure Practices | | Yes/No |
| Environmental Disclosures | | Yes/No |
| Social Disclosures | | Yes/No |
| Governance related to Sustainability | | Yes/No |
Appendix (2) Performance indicators related to financial disclosures on climate change impacts
| Action Taken by the Company | Answer (Yes/No) | Comment or Explanation |
|---|---|---|
| Performance Indicators related to Climate Financial Disclosures | | Yes/No |
| Governance | | Yes/No |
| Strategy | | Yes/No |
| Risk Management | | Yes/No |
Appendix (3) List of definitions related to performance indicators
| Term | Definition |
|---|---|
| Metrics and Targets | |