Dubai Financial Market has launched the UAE Index for Environment, Social and Governance (ESG) a first-of-its-kind from the financial markets for the region, aiming to measure listed companies embracing ESG best practices. The S&P/Hawkamah UAE ESG Index has been developed in cooperation with S&P Dow Jones Indices, data and research, as well as the Hawkamah Institute for Corporate Governance in the UAE (Hawkamah), DFM's strategic partner in the field of promoting best practices of corporate governance amongst listed companies. The DFM initiative was backed by Sultan bin Saeed Al Mansouri, Minister of Economy and Chairman of UAE Securities and Commodities Authority (SCA) as part of both sides' commitment to realise leadership's vision on boosting UAE financial markets' competitiveness and attract further investments. Al Mansouri said that the index's launch complements and supports SCA's efforts in developing the supervisory regime to bring it in line with the best international standards and practices. It will also promote the culture of governance and enhance the confidence of investors in the UAE capital market, especially after the adoption of a guide to the governance of public joint-stock companies early 2020, which regulates corporate governance and social and environmental responsibility requirements. It will also help to promote the spirit of competitiveness and compliance of the boards of listed companies with the implementation of the principles, in addition to developing benchmark indicators to evaluate the performance of these companies when it comes to their compliance with the social and environmental responsibility principles.