Standard & Poor’s (S&P), Hawkamah and the Institute for Corporate Governance (IFC) have unveiled the first tradable index for the Middle East and North African (MENA) equity markets, ETF Express reports. The S&P/Hawkamah Pan Arab ESG Index will rank and track the performance, transparency and disclosure of regional companies on environmental, social and corporate governance (ESG) issues.

The index, which was partly funded by the International Finance Corporation, will include the top 50 MENA companies based on their performance on nearly 200 ESG metrics, when compared to their regional peers. The companies will be selected from a group of the 150 most liquid companies listed on the national stock exchanges of 11 markets, including Bahrain, Egypt, Jordan, Lebanon, Kuwait, Morocco and Oman.

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