Tunisia's Stock Exchange and IFC Complete Program Supporting Environmental, Social, and Governance Reporting

The Tunis Stock Exchange and the International Finance Corporation (IFC), a member of the World Bank Group, have completed the second phase of a program supporting institutions in structuring and implementing an approach related to environmental, social, and governance (ESG) standards. The program, which was implemented in two consecutive phases, supported 37 institutions, including 32 listed companies and 5 non-listed public institutions.

The program aimed to enhance the practices of these institutions in the areas of environment, social responsibility, and governance, as well as prepare sustainability reports. Launched in 2023, the ESG reporting program was a joint initiative of the Tunis Stock Exchange and the IFC. It sought to develop the capacities of Tunisian institutions in non-financial reporting and adopt best practices in this field.

The program's primary objective was to improve the transparency and accountability of Tunisian institutions, ultimately enhancing the confidence of international investors and improving risk management. By supporting the transition of listed companies to more environmentally and socially responsible practices, the program contributed to sustainable development in Tunisia.

A total of 37 institutions benefited from the program, which provided them with the necessary tools and expertise to implement ESG reporting. The program's completion is a significant milestone in the development of sustainable finance in Tunisia. It demonstrates the commitment of the Tunis Stock Exchange and the IFC to promoting sustainable business practices in the country.

The Tunis Stock Exchange and the IFC have been working together to promote sustainable finance in Tunisia since the launch of the ESG reporting program in 2023. Their collaboration has contributed to a growing awareness of the importance of ESG considerations among Tunisian institutions. The program's success is expected to have a positive impact on the country's business environment.

The completion of the program is expected to encourage more Tunisian institutions to adopt sustainable business practices and enhance their ESG reporting. This, in turn, will contribute to a more sustainable and responsible business environment in Tunisia. The Tunis Stock Exchange and the IFC are likely to continue their collaboration in promoting sustainable finance in the country.

The ESG reporting program is part of a broader effort to promote sustainable development in Tunisia. The country's stock exchange and financial institutions have a critical role to play in supporting this effort. By promoting sustainable business practices and ESG reporting, the Tunis Stock Exchange and the IFC are helping to create a more sustainable and responsible financial system in Tunisia.

Key points

• The program supported 37 institutions in developing their environmental, social, and governance reporting practices.
• The program was a joint initiative of the Tunis Stock Exchange and the International Finance Corporation.
• The program aimed to enhance the transparency and accountability of Tunisian institutions and improve risk management.