SABIC Honored at Saudi Capital Market Forum 2023 for ESG and Investor Relations Programs

SABIC has won two awards at the Saudi Capital Market Awards 2022 – Best ESG and Best IR Program – demonstrating the company’s commitment to build on its strong economic and environmental sustainability foundations with a continued focus on compliance.

The ESG award, won by SABIC for the second consecutive year, assesses all entries on a range of key criteria, including ESG governance, frameworks used for reporting, and major achievements in the field. The IR award recognizes organizations championing Saudi Arabia’s capital market development.

The awards ceremony was held at the conclusion of the Saudi Capital Market Forum 2023, which was organized by the Saudi Tadawul Group, and held under the patronage of H.E. Mohammed El Kuwaiz, Chairman of the Capital Market Authority (CMA). The award was received on behalf of SABIC by Eng. Abdulrahman Al-Fageeh, SABIC CEO (A) at a ceremony in Riyadh on February 13. 

Commenting on the honor, Abdulrahman Al-Fageeh, SABIC CEO (A), said: “The ESG award comes at a time when we are gearing to transform SABIC into a higher growth, sustainability-driven, more resilient, and more agile chemical company; and the IR award is truly a recognition of our excellence in our external relationships, particularly with our shareholders and investors. Overall, we will continue to adopt global best practices in our corporate reporting, and keep aiming for excellence in our engagement with all capital market participants, while playing a key role in Saudi Vision 2030.”

SABIC’s ESG Reporting Steering Committee is responsible for driving the company’s ESG reporting strategy and roadmap, while promoting the integration of ESG factors into core business processes and decisions. The company’s culture of responsibility has been nurtured across the company’s 46-year history. It has inspired its investments in corporate social responsibility programs and NUSANED™, the company’s pioneering local-content initiative, designed to strengthen the local manufacturing base, diversify the national economy and create jobs.

SABIC has also been laying added emphasis on disclosures and value contribution in terms of business insights and financial transparency. As part of these efforts, it organized its first ever Investor Day in 2022 to engage with the global investor community, published its first Combined Executive Summary Report – a summary of the Annual Report and a summary of the Sustainability report in one document – and established a dedicated Investor Relations Call Center to serve shareholder inquiries and increase shareholder satisfaction. 

The Saudi Capital Market Awards recognize excellence and leadership displayed by market participants who are championing the development and growth of Saudi Arabia's capital market. SABIC was the Platinum Innovation Partner of this year’s forum to promote and support the Saudi capital market’s attraction. Several engagements with numerous investors were also held during the Forum.

The day after the Forum SABIC hosted and organized a field trip for nearly 15 international investors who expressed interest in visiting SABIC facilities.  The investors toured SABIC’s Home of Innovation™ and the SABIC Plastic Applications Development Center (SPADC).