MENA to launch corporate sustainability indexes based on IFC’s performance standards on Environmental & Social Sustainability

by Dubai Chronicle, October 31, 2010.

ToneStar Consulting, a UK consulting company specialising in assurance services within the Middle East, would like to announce its intention to launch and issue Middle East and North Africa (MENA) Corporate Sustainability Indexes covering listed stocks in 11 MENA countries based on the International Finance Corporation’s Performance Standards on Environmental and Social Sustainability along with other international benchmarks and standards for Corporate Governance, Anti-Corruption, Sustainable Reporting, Risk Management & Internal Audit.

“Unlike other potential competitor MENA indexes that may be launched, our indexes will also ensure that each company has a robust risk management framework to ensure that company-wide risks including those associated with environmental and social risks are identified and minimised stated ToneStar Consulting’s Founder and Managing Director, Tarek Rouchdy, ACIB FCCA”.

In addition, ToneStar’s Sustainability Indexes will be rebalanced twice a year rather than once a year to enable the investor community to benefit from more timely information to complement their own financial research capacity.

Finally and to ensure integrity of the indexes, an Index Policy Committee composed of three experts both unrelated to ToneStar Consulting and external to the MENA region, will approve the methodology and final rankings.

“We intend to be the index of choice for investors and others alike in the MENA region since our strong assurance expertise will be the mainstay of a robust and transparent Index.” (continue reading)


2 Responses to “MENA to launch corporate sustainability indexes based on IFC’s performance standards on Environmental & Social Sustainability”

  1. 1 FS November 16, 2010 at 9:04 pm

    Interesting! You should consider posting this at the MENA Sustainability professionals group

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