Casablanca Stock Exchange and Vigeo Eiris set up an ESG benchmark index and celebrate the 2018 ESG Top Performers
• Casablanca ESG 10 includes the 10 listed stocks with the best ESG ratings from Vigeo Eiris.
• Casablanca ESG 10 will contribute to the development of Socially Responsible Investment (SRI) and promote the adoption of ESG best practices.
• A Launching meeting the commitments made by the Casablanca Stock Exchange during the COP 22 side event, in the framework of "the roadmap of the Moroccan financial sector" and "Marrakech Pledge".
Casablanca September 27, 2018
Further to a joint collaboration between Casablanca Stock Exchange and the independent international research and services agency ESG Vigeo Eiris, the two parties have set up “Casablanca ESG 10”, an environmental, social and governance benchmark index.
The purpose behind “The establishment of “Casablanca ESG 10″ is to attract a new category of SRI investors by providing them with a reference tool that meets their needs, to shed light on Casablanca financial center on an the international scale, while promoting the development of ESG best practices among publicly-traded companies,” said Karim Hajji, CEO of the Casablanca Stock Exchange.
In this way, “Casablanca ESG 10” is composed of 10 securities listed in continue on the Casablanca Stock Exchange: Attijariwafa Bank, BCP, BMCE Bank, BMCI, Cosumar, Ittisalat Al-Maghrib, LafargeHolcim Morocco, Lydec, Managem and Wafa Assurance. This composition is reviewed annually according to the ratings given by Vigeo Eiris.
The companies in the ESG 10 index were evaluated and ranked on the basis of their compliance with the 38 criteria and more than 330 indicators of environmental, social and governance responsibility applied by Vigeo Eiris. Are taken into account in this assessment, the relevance of these companies’ commitments, their management system efficiency, as well as their risk management and performance improvement capacity.
This methodology allows to earmark the listed companies most committed to the respect of the universal standards (in particular with respect to human rights, decent work, environmental protection and governance, …); to encourage companies to meet these standards and to foster the development of a new category of investors interested in SRI.
In addition, the implementation of “Casablanca ESG 10” addresses the growing importance of SRI asset management worldwide. In fact, SRI comes to add to the standard financial criteria, without abandoning the search for return, environmental, social and good governance selection criteria.
In this regard, Mr. Fouad Benseddik, Vigeo Eiris Head of Methods and Institutional Affairs, said: “Besides, Capital providers who are usually keen on mainstream financial rating of firms’ creditworthiness, are today becoming more risk-averse, focusing on risk sustainability that arises from the companies’ ability to materially carry out their social and environmental responsibilities, business ethics, responsible purchasing, sustainable procurement, or of their governance and control bodies independence. With this new index, the Casablanca stock exchange is sending an unequivocal signal of progress to the investors “.