Supporting investors integrate ESG factors in investment decisions
Supporting investors integrate ESG factors in investment decisions



As a signatory of the United Nations Principles for Responsible Investment (PRI), Sustainability Excellence's investment research arm - ESG Invest - has made the formal commitment to drive the responsible investment movement forward in the Arab world by providing a wide range of customised products and services that support investors, asset managers, asset owners, and stock exchanges to integrate Environmental, Social, and Governance (ESG) issues in their core strategies and make better informed investment decisions.


ESG Invest provides comprehensive ESG ratings research reports that quantify the ESG performance of companies in the Arab world. Our team of native Arabic speaking research analysts assess ESG data points across 9 Sustainability Dimensions and 43 ESG issues with more than 180 data points for companies in the Arab world, analysing the level of integration of ESG issues at the company’s core business activities and assessing the company’s exposure to tail risk events and opportunities for Alpha.



ESG Invest will support you in making informed investment decisions through ESG analysis that uncover hidden risks that may not be captured by mainstream financial analysis.


ESG Invest will support you in developing a unique ESG integration roadmap that helps you identify companies with net positive impact while systematically managing ESG risks across asset classes.


ESG Invest will support you in benchmarking your ESG performance against regional and international companies on material ESG factors that the reasonable investor cares about.

Comprehensive ESG Reports of Companies in the Arab World


ESG Quantitative and Qualitative Performance Indicators


ESG Criteria Derived from International Standards and National Visions


Years of Historical Data



A focus on material ESG factors and best practices from the most stringent international standards.

Regional Focus

A strong understanding of National Visions and Transformation Plans in the Middle East.


A diverse team of native Arabic speaking ESG Research analysts analyzing ESG information.


Regional collaborations with the GRI, stock exchanges, and leading financial institutions.

IT Infrastructure

A proprietary IT platform supporting ESG analysis and dialogue between investors and ESG analysts.

Quality Control

Standardized and quality controlled data, verified by a rigorous quality management process.


Featured News

Bahrain Bourse partners with Sustainability Excellence

Bahrain Bourse (BHB) signed a Memorandum of Understanding on January 16, 2020 with the advisory firm Sustainability Excellence which aims […]

abu dhabi

Abu Dhabi Securities Exchange (ADX) partners with Sustainability Excellence

Abu Dhabi Securities Exchange (ADX), the region’s leading financial market, signed a Memorandum of Understanding (MoU) with the management consulting firm […]

Boursa Kuwait partners with Sustainability Excellence

Earlier this year, Boursa Kuwait became a signatory of the Sustainable Stock Exchanges Initiative (SSE) demonstrating its commitment to encourage […]

Amman Stock Exchange partners with Sustainability Excellence

The Amman Stock Exchange (ASE) and Sustainability Excellence have signed a Memorandum of Understanding (MoU) to promote sustainability in the […]

Qatar Stock Exchange partners with Sustainability Excellence

The companies listed on the Qatar Stock Exchange (QSE) can digitally report their sustainability performance from December this year as […]

Sustainability Excellence delivers training to members of the Palestine Chapter of the Middle East Investor Relations Association

The training seminar was held in Ramallah on Tuesday, December 20, 2017.Members of the Palestine Investor relations chapter attended the […]

ESG Ranking

Latest ESG Rankings


CompanySectorRank FY2020Rank FY2019Trend
Almarai CompanyFood and Beverages11
Saudi Telecom Co.Telecommunication24
Saudi Basic Industries CorpChemicals32
Saudi Electricity CompanyUtilities48
The Saudi Investment BankBanks63
Sahara Inter PetrochemicalChemicals6NANA
National Industrialization Co.Chemicals76
Jarir Marketing CoRetail89
Middle East Paper CompanyContainers & Packaging921
Saudi Arabian Oil Co.Energy914
Mobile Telecommunications Company Saudi Arabia (Zain KSA)Telecommunication117
Al Rajhi BankBanks1211
Etihad Etisalat Co. (Mobily)Telecommunication1334
The Saudi National BankBanks1428
Saudi Industrial Services Co.Industrial Conglomerates1589
Saudi Arabian Mining Company (Ma'aden)Metals and Mining1610
Saudi Re for Cooperative Reinsurance CompanyInsurance16112
Saudi Airlines Catering CompanyBusiness Support Services1813
Bank AlbiladBanks1915
Saudia Dairy & Foodstuff Co.Food and Beverages1948
Savola GroupFood and Beverages2126
Rabigh Refining and Petrochemical CoEnergy2212
Advanced Petrochemical CompanyChemicals22117
Banque Saudi FransiBanks2431
Bupa Arabia for Cooperative InsuranceInsurance2434
Saudi Tadawul Group Holding CompanyDiversified Financial Services24NANA
Saudi Paper Manufacturing Co.Paper & Forest Products2719
The Saudi British BankBanks2923
Zamil Industrial Investment CoConstruction & Engineering2924
Hail Cement CompanyConstruction Materials2917
Arabian Internet and Communications Services Co.Business Support Services29NANA
Riyad BankBanks3324
Takween Advanced IndustriesContainers & Packaging3320
Saudi Steel Pipe CompanyMetals and Mining3321
Leejam Sports Co.Hotels and Leisure3372
Dr. Sulaiman Al Habib Medical Services GroupHealth Care33148
Electrical Industries CompanyElectrical Components and Equipment3826
Nama Chemicals Co.Chemicals3866
Saudi Ground Services Co.Transportation and Logistics4045
Red Sea International Co.Real Estate4031
Walaa Cooperative Insurance CompanyInsurance4061
SABIC Agri-Nutrients Co.Chemicals43NANA
Yanbu National Petrochemical CompanyChemicals4334
Seera Group HoldingTravel and Tourism4338
National Agriculture Development Co.Food and Beverages4345
Methanol Chemicals CompanyChemicals4331
Tabuk Agriculture Development Co.Food and Beverages4330
Naseej International Trading CompanyConsumer Durables43NANA
Maharah Human Resources Co.Business Support Services43132
Saudi Cement CompanyConstruction Materials5139
Najran Cement CompanyConstruction Materials5118
Alkhaleej Training and Education CompanyBusiness Support Services5152
Tabuk Cement Co.Construction Materials5143
Aljazira Takaful Taawuni CompanyInsurance51105
Arabian Pipes CompanyMetals and Mining5128
Filling and Packing Materials Manufacturing Co.Containers & Packaging5134
Arab National BankBanks5841
Arabian Cement CoConstruction Materials5889
Saudi Pharmaceutical Indust.& Med. Appliances Corp.Health Care5850
Aldrees Petroleum and Transport Services CompanyEnergy5847
Lazurde Company for JewelryRetail5852
Saudi Kayan Petrochemical CompanyChemicals6339
City Cement CompanyConstruction Materials6357
United Electronics CompanyRetail6358
Saudi Arabian Cooperative Insurance CompanyInsurance6381
Al Moammar Information Systems Co.Business Support Services63168
Tanmiah Food Co.Food and Beverages63NANA
Alinma BankBanks6961
Abdulmohsen Alhokair Group for Tourism and DevelopmentHotels and Leisure6961
Aseer Trading, Tourism & Manufacturing Co.Diversified Financial Services69132
United International Transportation Co.Transportation and Logistics6981
Saudi Marketing CompanyRetail6961
Al-Babtain Power and Telecommunication CompanyElectrical Components and Equipment6978
Saudi Fisheries Co.Food and Beverages69155
Alahli Takaful CompanyInsurance6948
Middle East Specialized Cables CoElectrical Components and Equipment6952
Salama Cooperative Insurance Co.Insurance6966
Bank AlJaziraBanks7989
Yamama Cement CompanyConstruction Materials7961
Abdullah Al Othaim Markets CompanyRetail79124
Eastern Province Cement Co.Construction Materials7972
Al Abdullatif Industrial Investment CompanyConsumer Durables7999
Dur Hospitality CoHotels and Leisure7958
Al Alamiya for Cooperative Insurance CompanyInsurance79169
Saudi Public Transport Co.Transportation and Logistics7989
SABB TakafulInsurance79105
Batic Investments and Logistics Co.Transportation and Logistics79142
Fitaihi Holding GroupRetail7966
Basic Chemical Industries CoChemicals7972
Saudi Indian Company for Cooperative InsuranceInsurance7952
Gulf Union Al Ahlia Cooperative InsuranceInsurance79NANA
Zahrat Al Waha for Trading Co.Containers & Packaging7978
Jabal Omar Development CompanyReal Estate94132
Emaar The Economic CityReal Estate94155
Yanbu Cement Co.Construction Materials9489
Qassim Cement CompanyConstruction Materials9472
Al Hammadi Company For Development and InvestmentHealth Care94105
Northern Region Cement CompanyConstruction Materials9466
Saudi Company for HardwareRetail9499
Halwani Bros Co.Food and Beverages9466
Saudi Automotive Services Co.Retail94117
Saudi Industrial Development Co.Consumer Durables9489
Amana Cooperative Insurance CoInsurance9499
Arabian Centres Co.Real Estate94148
Alujain Holding CorporationChemicals9458
Southern Province Cement Co.Construction Materials10778
The Company for Cooperative InsuranceInsurance107117
Saudi Industrial Investment GroupChemicals10799
Mouwasat Medical Services CompanyHealth Care107105
The Mediterranean and Gulf Cooperative Insurance and Reinsurance CompanyInsurance10781
Al Jouf Cement CompanyConstruction Materials107155
Saudi Arabian Amiantit Co.Industrial Conglomerates107112
AXA Cooperative Insurance CompanyInsurance10781
Saudi Enaya Cooperative Insurance CoInsurance107148
Chubb Arabia Cooperative Insurance CompanyInsurance10781
Al Sagr Co-operative Insurance CoInsurance107132
Al-Etihad Cooperative Insurance Co.Insurance107117
Wafrah For Industry And DevelopmentFood and Beverages107124
AYYAN Investment Co.Industrial Conglomerates107NANA
Gulf General Cooperative Insurance CompanyInsurance107177
Saudi Industrial Export CoBusiness Support Services107155
Middle East Healthcare Co.Health Care10772
Al Kathiri Holding Co.Construction Materials10781
Nayifat Finance Co.Diversified Financial Services107NANA
BinDawood Holding Co.Industrial Conglomerates107NANA
Fawaz Abdulaziz AlHokair CompanyRetail127155
Dar Alarkan Real Estate Development Co.Real Estate12766
Knowledge Economic CityReal Estate127139
Saudi Ceramic Co.Construction Materials127124
Al Hassan Ghazi Ibrahim ShakerRetail12781
National Gas & Industrialization Co.Utilities12799
Bawan CompanyIndustrial Conglomerates127124
United Wire Factories CompanyElectrical Components and Equipment127105
The National Co. for Glass IndustriesContainers & Packaging127112
Saudi Printing & Packaging CompanyMedia and Publishing127142
Allianz Saudi Fransi Cooperative Insurance CompanyInsurance127139
National Metal Manufacturing and Casting Co.Metals and Mining127142
Wataniya Insurance CompanyInsurance127132
Malath Cooperative Insurance and Reinsurance CompanyInsurance127139
Saudi Cable CompanyElectrical Components and Equipment127167
Jazan Energy and Development Co.Food and Beverages12772
Arabian Shield Cooperative Insurance CompanyInsurance12799
Allied Cooperative Insurance GroupInsurance127142
Theeb Rent a Car Co.Business Support Services127NANA
Makkah Construction & Development Co.Real Estate14689
National Petrochemical CompanyChemicals146176
Dallah Healthcare CompanyHealth Care14689
Herfy Food Services Co.Hotels and Leisure146105
Saudi Chemical CompanyChemicals146112
National Medical Care CompanyHealth Care146175
Astra Industrial GroupIndustrial Conglomerates146117
Umm Al-Qura Cement CompanyConstruction Materials146117
Saudi Vitrified Clay Pipes Co.Construction Materials146162
Al Jouf Agricultural Development Co.Food and Beverages146117
Al Rajhi Company for Cooperative InsuranceInsurance146162
Tihama Advertising & Public Relations Co.Media and Publishing146142
Anaam International Holding Group CO.Diversified Financial Services146169
Al Yamamah Steel Industries Co.Metals and Mining146124
Alandalus Property Co.Real Estate146124
National Company for Learning and EducationEducation146148
Alkhorayef Water and Power Technologies Co.Utilities146NANA
Kingdom Holding CompanyDiversified Financial Services163164
Taiba Holding Co.Real Estate163164
Saudi Real Estate Co.Real Estate163164
Saudi Advanced Industries Co.Diversified Financial Services163132
United Cooperative Assurance CoInsurance16381
National Gypsum CompanyConstruction Materials163142
Arabia Insurance Cooperative CompanyInsurance16389
Alinma Tokio Marine CoInsurance163148
Arriyadh Development Co.Real Estate171132
Etihad Atheeb Telecommunication CompanyTelecommunication171172
Saudi Arabia Refineries Co.Energy171155
Buruj Cooperative Insurance CompanyInsurance171173
Ash-Sharqiyah Development CompanyFood and Beverages171124
Thimar Development Holding CompanyRetail171NANA
Thob Al Aseel Co.Retail171179
Amlak International for Real Estate Finance Co.Diversified Financial Services171NANA
Almunajem Foods Co.Food and Beverages171NANA
Saudi Research and Marketing GroupMedia and Publishing180112
Tourism Enterprise Co.Hotels and Leisure180148
Ataa Educational Co.Education180178
Al-Baha Investment & Development coDiversified Financial Services183173
Abdullah Saad Mohammed Abo Moati for Bookstores Co.Retail184180
Raydan Food Co.Retail184181

* Based on Fiscal Year 2020

Bahrain Bourse

CompanySectorRank FY2020Rank FY2019Trend
Aluminum Bahrain B.S.CMetals & Mining11
National Bank of BahrainBanks22
Zain BahrainTelecommunication33
Bahrain Islamic BankBanks512
Al-Ahli United BankBanks66
Al Baraka Banking GroupBanks88
Ithmaar Holding B.S.C.Banks89
APM Terminals Bahrain B.S.C.Transport & Logistics105
Arab Banking CorporationBanks1211
SICO BSC (C)Diversified Financials124
Seef PropertiesReal Estate1416
Khaleeji Commercial Bank B.S.CBanks1519
Bahrain National Holding CompanyInsurance1636
Bahrain Kuwait Insurance CompanyInsurance1619
Bahrain Cinema CompanyHotels and Leisure1618
Solidarity Bahrain B.S.CInsurance1924
Al Salam Bank - Bahrain B.S.C.Banks1915
United Gulf Holding CompanyIndustrial Conglomerates21NANA
GFH Financial Group Banks2126
Gulf Hotel Group B.S.CHotels and Leisure2130
Bahrain Ship Repairing & Engineering CompanyConstruction & Engineering2421
Bahrain Flour Mills CompanyFood and Beverages2416
Nass CorporationConstruction & Engineering2621
InovestDiversified Financials2621
Takaful International CompanyInsurance2841
Bahrain Middle East BankBanks2825
Esterad Investment CompanyDiversified Financials2829
Delmon Poultry CompanyFood and Beverages3127
Bahrain Commercial Facilities CompanyDiversified Financials3227
Bahrain Duty Free ComplexRetail3331
Arab Insurance GroupInsurance3331
Bahrain Family LeisureHotels and Leisure3331
National Hotels CompanyHotels and Leisure3635
United Gulf Investment CorporationDiversified Financials3638
Bahrain Car Parks CompanyDiversified Financials3636
Banader Hotels Company BSCHotels and Leisure3939
Trafco GroupFood and Beverages4031
United Paper Industries B.S.C.(c)Paper & Forest Products4140

* Based on Fiscal Year 2020

Abu Dhabi Securities Exchange

CompanySectorRank 2019Rank 2018Trend
First Abu Dhabi BankBanks11
ETISALATTelecommunication 27
Aldar Properties PJSCReal Estate323
RAK Ceramics PJSCConstruction Materials44
Abu Dhabi Commercial BankBanks51
Dana Gas PJSCEnergy66
ADNOC For DistributionRetail78
AGTHIA GroupFood and Beverages813
National Marine Dredging CompanyBusiness Support Services119
National Bank of Fujairah PJSCBanks1216
Fujairah Cement IndustriesConstruction Materials1315
Gulf Cement Co.Construction Materials1310
Abu Dhabi Islamic BankBanks1511
National Corporation For Tourism And HotelsHotels and Leisure1617
Gulf Pharmaceutical IndustriesHealth Care1712
Sharjah Cement and Industrial Development Co.Construction Materials1819
Fujairah Building Industries P.S.C.Construction Materials1923
Emirates Driving CompanyEducation2017
Rak PropertiesReal Estate2122
Ras Al Khaimah Cement CompanyConstruction Materials2219
International Holding Company PJSCFood and Beverages2323
Arkan Building Materials Co.Construction Materials2434
Ras Al Khaimah Co. for White Cement & Construction Materials P.S.C.Construction Materials2527
Emirates Insurance CompanyInsurance2531
Abu Dhabi National HotelsHotels and Leisure2723
Eshraq Properties Co.Real Estate2837
Bank of SharjahBanks2929
Methaq Takaful Insurance CompanyInsurance3039
Insurance House P.S.CInsurance3046
National Takaful Company PSC - WataniaInsurance3039
National Bank Of Ras Al-KhaimahBanks3349
Waha Capital PJSCDiversified Financial Services3339
Abu Dhabi Aviation Co.Transportation and Logistics3327
Abu Dhabi National Company for Building MaterialsConstruction Materials3634
Al Dhafra Insurance CompanyInsurance3631
Abu Dhabi National Insurance CompanyInsurance3829
Gulf Medical Projects CompanyHealth Care3834
Ras Al Khaimah Poultry And Feeding Co.Food and Beverages4042
AXA Green Crescent Insurance Company PJSCInsurance4046
Al Ain Ahlia Insurance CompanyInsurance4253
FOODCO Holding P.J.S.CFood and Beverages4349
Al Buhaira National Insurance CompanyInsurance4444
RAK InsuranceInsurance4444
Al Fujairah National Insurance CompanyInsurance4454
AL Khaleej InvestmentIndustrial Conglomerates4431
United Fidelity Insurance CompanyInsurance4846
Umm Al Qaiwain General Investments Co.Diversified Financial Services4837
Al Khazna Insurance CompanyInsurance5042
Union Insurance CompanyInsurance5157
United Arab Bank (P.J.S.C.)Banks5259
Abu Dhabi National Takaful CompanyInsurance5252
Sharjah Group CompanyReal Estate5455
Al Wathba National Insurance Company P.J.S.CInsurance5551
Sharjah Insurance CompanyInsurance5658
The National Investor PRJSCDiversified Financial Services57NANA
Wahat Al Zaweya HoldingReal Estate58NANA
Sudatel Telecom Group Company Telecommunication Services5955
Commercial Bank InternationalBanks6060
Abu Dhabi Ship Building PJSCConstruction & Engineering6014
Manazel PJSCReal Estate62NANA
National Bank of Umm Al QaiwainBanks6362
Oman & Emirates Investment Holding Co.Diversified Financial Services6361
Finance HouseBanks6563
Invest BankBanks6664
Sharjah Islamic BankBanks6765
Reem Investments PRJSCDiversified Financial Services68NANA
Al Qudra Holding Diversified Financial Services69NANA
Union National BankBanksNA3NA

* Based on Fiscal Year 2019

Dubai Financial Market

CompanySectorRank 2019Rank 2018Trend
Hikma PharmaceuticalsHealth Care11
ARAMEX PJSCTransportation & Logistics22
Dubai Investments PJSCDiversified Financials416
Arabtec Holding PJSCConstruction & Engineering56
DP WorldTransportation & Logistics65
Dubai Financial Market PJSCDiversified Financials77
AgilityTransportation & Logistics88
Emirates NBD PJSCBanks99
Orascom ConstructionConstruction & Engineering1011
Al Baraka Banking GroupBanks119
Ithmaar HoldingBanks1213
DXB Entertainments (P.J.S.C.)Hotels and Leisure1318
National Central Cooling Co.Business Support Services1414
Union Properties PJSCReal Estate1512
Emaar Properties PJSCReal Estate1715
Air Arabia PJSCTransportation and Logistics1823
Depa LimitedBusiness Support Services1819
Dubai RefreshmentFood and Beverages2029
Emaar Development Real Estate2049
SHUAA Capital PSCDiversified Financial Services2321
Commercial Bank of Dubai P.S.C.Banks2454
BLME Holdings plcBanks2526
National International Holding CompanyDiversified Financial Services2627
Gulf Navigation Holding PJSCTransportation and Logistics2622
United Foods Company (PSC)Food and Beverages2823
Arabian Scandinavian Insurance Company - TakafulInsurance2929
Al Salam Bank - BahrainBanks3025
Dubai National Insurance & ReinsuranceInsurance3129
Al Ramz Corporation Investment and Development PJSCDiversified Financial Services3240
National Cement Company (P.S.C.)Construction Materials3333
Alliance Insurance Insurance3338
Deyaar Development PJSCReal Estate3333
Amanat Holdings PJSCBusiness Support Services3360
Dar Al TakafulInsurance3733
Marka PJSCRetail3829
GFH Financial Group B.S.C.Banks3949
Emirates Refreshments CompanyFood and Beverages3927
Gulfa Mineral Water & Processing Industries Co. PLCFood and Beverages3933
Oman Insurance CompanyInsurance4249
Dubai Islamic Insurance and Reinsurance Co.Insurance4242
National General Insurance Company PSCInsurance4240
Orient Insurance PJSCInsurance4245
Islamic Arab Insurance CompanyInsurance4239
Takaful Emarat (PSC)Insurance4733
Orient UNB TakafulInsurance4745
Al Mazaya Holding CompanyReal Estate4942
Unikai Foods P.J.S.C.Food and Beverages5047
Arab Insurance Group P.S.C.Insurance5049
Khaleeji Commercial BankBanks5059
Dubai Insurance CompanyInsurance5356
Al Firdous Holdings PJSCHotels and Leisure5442
Al Sagr National Insurance CompanyInsurance5554
Drake & Scull International P.J.S.CConstruction & Engineering5553
Gulf General Investments CompanyDiversified Financial Services5747
Mashreqbank PScBanks5856
Amlak Finance P.J.S.CBanks5960
Dubai Islamic BankBanks6062
Aan Digital Services Holding Co.Telecommunication Services6167
International Financial Advisors CompanyDiversified Financial Services6267
Emirates Islamic Bank PJSCBanks6364
Ajman Bank PJSCBanks6463
National Industries Group Holding (S.A.K.)Industrial Conglomerates6556
NAEEM Holding For InvestmentsDiversified Financial Services6665
Emirates Investment Bank PJSCBanks6766
Al Salam Group HoldingDiversified Financial Services6867
Al-Madina For Finance and InvestmentDiversified Financial Services6970
Ektettab Holding Company K.S.C.CDiversified Financial Services6970
Al Salam Bank - SudanBanks7172

* Based on Fiscal Year 2019

Qatar Stock Exchange

CompanySectorRank 2019Rank 2018Trend
Qatar National BankBanks15
Doha Bank Banks21
NakilatTransportation & Logistics44
Aamal Company Q.S.C.Industrial Conglomerates57
Vodafone Qatar Q.S.C.Telecommunication 63
Qatar Navigation (Milaha)Transportation & Logistics821
Qatar General Ins & ReInsurance916
Al Khalij Commercial Bank Banks109
Gulf International ServicesEnergy1112
Commercial BankBanks1110
Qatar Oman Investment CompanyDiversified Financial Services1124
Medicare Group Q.S.CHealth Care1431
Qatari Investors Group Industrial Conglomerates157
Almeera Consumer Goods Company Q.S.CRetail1513
Salam International Investment Limited (SIIL)Industrial Conglomerates1531
Gulf Warehousing CompanyTransportation and Logistics1510
Dlala Brokerage and Investments Holding CompanyDiversified Financial Services1916
Mesaieed Petrochemical Holding Company Q.S.C.Chemicals1916
Masraf Al Rayan (Q.S.C.)Banks1914
United Development CompanyReal Estate1937
Qatar Industrial Manufacturing CompanyIndustrial Conglomerates2314
Industries Qatar Industrial Conglomerates2316
Qatar Electricity and Water CompanyUtilities2331
Qatar First BankBanks2341
Mannai Corporation (QSC)Industrial Conglomerates2721
Qatar International Islamic BankBanks2724
Barwa Real Estate CompanyReal Estate2716
Ahli BankBanks3031
Qatar Islamic Bank Banks3029
Qatar German Company for Medical DevicesHealth Care3021
Widam Food Company Q.S.C. - MawashiFood and Beverages3043
Qatar Aluminium Manufacturing CompanyMetals and Mining30NANA
Mazaya Qatar Real Estate DevelopmentReal Estate3524
Ezdan Holding GroupReal Estate3531
Zad Holding CompanyIndustrial Conglomerates3541
National Leasing HoldingDiversified Financial Services3837
Qatar Islamic Insurance CompanyInsurance3837
Investment Holding GroupConstruction & Engineering3831
Doha Insurance CompanyInsurance4129
Inma HoldingDiversified Financial Services4245
Qatar Insurance CompanyInsurance4237
Qatar National Cement CompanyConstruction Materials4424
Qatar Cinema & Film Distribution CoHotels and Leisure4524
BaladnaFood and Beverages46NANA
Al Khaleej Takaful GroupInsurance4743

* Based on Fiscal Year 2019

Boursa Kuwait

CompanySectorRank 2019Rank 2018Trend
Zain GroupTelecommunication11
National Bank of KuwaitBanks24
AgilityTransportation & Logistics32
Mabanee CompanyReal Estate43
Ahli United Bank Banks57
Kuwait Telecommunication Company Telecommunication622
Ahli United Bank (K.S.C.P)Banks711
Fujairah Cement Industries Construction Materials88
Gulf Cement Company Construction Materials95
Ithmaar HoldingBanks106
Sharjah Cement and Industrial Development Co.Construction Materials1011
United Projects for Aviation Services Company (K.S.C)Business Support129
National Mobile Telecommunications Co. (K.S.C)Telecommunication139
Kuwait Finance HouseBanks1413
Kuwait Financial Centre (K.P.S.C)Diversified Financials1517
Ras Al Khaimah Co. For White Cement & Construction MaterialsConstruction Materials1616
National Petroleum Services Company (K.S.C.)Energy1614
Oula Fuel Marketing Company (K.S.C)Retail1822
Al Ahli Bank of Kuwait (K.S.C.)Banks1914
Kuwait & Middle East Financial Investment Co. (K.S.C)Diversified Financial Services1925
Gulf Bank of Kuwait (K.S.C.)Banks2141
Kuwait International Bank (K.S.C.)Banks2120
Soor Fuel Marketing Company (K.S.C)Retail2122
GFH Financial GroupBanks2430
Gulf Insurance Group (K.S.C.)Insurance2534
Bahrain Kuwait Insurance CoInsurance25NANA
Umm Al-Qaiwain General Investments Co. (P.S.C.)Diversified Financial Services2718
Burgan Bank (S.A.K.)Banks2820
Kuwait Cement Company (K.P.S.C.)Construction Materials2825
Mezzan Holding Co. (K.S.C.C)Food and Beverages3030
Al Mazaya Holding Co.Real Estate3119
Commercial Bank of KuwaitBanks3233
Inovest (B.S.C)Diversified Financial Services3227
Salhia Real Estate (K.S.C)Real Estate3243
Al-Kout Industrial Projects Co. (K.S.C)Chemicals3575
Kuwait Projects Company (Holding) (K.S.C.)Diversified Financial Services3553
Aayan Real Estate Company (S.A.K)Real Estate3537
Commercial Facilities Co. (S.A.K)Diversified Financial Services3858
Acico Industries Company (K.S.C)Industrial Conglomerates3842
Jazeera Airways CompanyTransportation and Logistics38122
National International Holding Company (K.S.C)Diversified Financial Services3830
First Takaful Insurance Company (K.C.S)Insurance3865
A'ayan Leasing & Investment Company (K.S.C)Diversified Financial Services4353
The Kuwait Company for Process Plant Construction and Contracting (S.A.K)Construction & Engineering4343
Kuwait Hotels Company K.S.C.P. Hotels and Leisure43NANA
Warba Bank (K.S.C.)Banks4637
Alargan International Real Estate Co. (K.S.C)Real Estate4634
HumanSoft Holding Co. (K.S.C)Business Support Services4896
Arzan Financial Group for Financing and Investment K.S.EDiversified Financial Services4837
Gulf Investment House (K.S.C)Diversified Financial Services4858
Boubyan Bank (K.S.C.)Banks5134
Al Imtiaz Investment Group (K.S.C.)Diversified Financial Services5153
Livestock Transport & Trading Company (K.S.C.)Food and Beverages5165
Yiaco Medical Company (K.S.C)Retail5149
Kuwait Real Estate Company (K.S.C.)Real Estate5165
Kuwait & Gulf Link Transport Company (K.S.C)Transportation and Logistics5127
Metal & Recycling Co. (K.S.C.)Business Support Services51NANA
Combined Group Contracting Co. (S.A.K)Construction & Engineering5887
Noor Financial Investment Company (K.S.C)Diversified Financial Services5849
Kuwait Insurance Company (S.A.K.)Insurance6043
Ajial Real Estate Entertainment Company (K.S.C)Real Estate6083
Automated Systems Company (K.P.S.C)Business Support Services6094
United Real Estate Company (K.S.C)Real Estate6387
Tijara & Real Estate Investment Co. (K.S.C)Real Estate6343
National Cleaning Co. (S.A.K)Utilities6353
The Commercial Real Estate Co. (K.S.C)Real Estate6627
KGL Logistics CompanyTransportation and Logistics6643
Kuwait Finance & Investment Company (K.S.C)Diversified Financial Services6649
Mubarrad Holding Co.Transportation and Logistics6665
Al Ahleia Insurance Co. (S.A.K.)Insurance7065
National Investments Company (K.S.C.)Diversified Financial Services7096
Munshaat Real Estate Projects Co. (K.S.C)Real Estate7065
Almadar Finance and Investment (K.S.C)Diversified Financial Services7053
Tamdeen Real Estate Company (K.S.C)Real Estate7458
Qurain Petrochemical Industries Company (K.S.C)Industrial Conglomerates7475
Injazzat Real Estate Development Co. (K.S.C)Real Estate7643
Real Estate Asset Management Company (K.S.C)Real Estate7675
First Dubai for Real Estate Development Co. (K.S.C.P)Real Estate7665
KAMCO Investment Company K.S.C (Public)Diversified Financial Services7637
AMAR FOR FINANCE AND LEASING CO.Diversified Financial Services7687
Kuwait Investment Company (S.A.K.)Diversified Financial Services8161
Alrai Media Group Company (K.S.C)Media and Publishing81102
Al Aman Investment CompanyDiversified Financial Services8161
International Financial Advisers (K.S.C)Diversified Financial Services8479
First Investment Company (K.S.C)Diversified Financial Services8579
Independent Petroleum Group (K.S.C.P)Energy8572
Boubyan Petrochemical Company (K.S.C)Industrial Conglomerates8579
Amwal International Investment CO. (K.S.C)Diversified Financial Services8573
Al Bareeq HoldingDiversified Financial Services8561
Advanced Technology CompanyRetail9061
National Real Estate Company K.S.CReal Estate9049
Senergy Holding Company (K.S.C.P)Energy9275
Al Masaken International Real Estate DevelopmentReal Estate9273
IFA Hotels and Resorts Co. (K.P.S.C)Hotels and Leisure94116
Osoul Investment CO. (K.S.C)Diversified Financial Services9479
Egypt Kuwait Holding Co. (S.A.E.)Diversified Financial Services96110
Sokouk Holding Co. (S.A.K)Diversified Financial Services96110
Privatization Holding Company (K.S.C.)Diversified Financial Services9696
Future Kid Entertainment and Real Estate Co. (K.S.C)Hotels and Leisure9683
Aqar Real Estate Investments Company (S.A.K)Real Estate9692
Warba Insurance Company (K.S.C.P)Insurance9683
Burgan Company for Well Drilling, Trading & MaintenanceEnergy102106
Gulf North Africa Holding Company (K.S.C)Diversified Financial Services10292
Al-Arabiya Real Estate Co. (K.S.C)Real Estate10287
National Industries Company (K.S.C.)Construction Materials105106
Coast Investment & Development Company (K.S.C)Diversified Financial Services105102
Tamdeen Investment Co. (K.S.C.)Diversified Financial Services10596
Real Estate Trade Centers Co. (K.S.C)Real Estate10595
AAN Digital Services Co. Telecommunication109130
Mashaer Holding CompanyDiversified Financial Services110142
Manazel HoldingDiversified Financial Services110133
Kuwait National Cinema Co. (K.P.S.C.)Hotels and Leisure112101
International Resorts Company (K.S.C)Real Estate11296
Gulf Cable & Electrical Industrial Co.Electrical Components and Equipment112102
Osos Holding Group Company (K.S.C)Diversified Financial Services115115
Al-Deera Holding Company (K.P.S.C)Diversified Financial Services116124
Sanam Real Estate Co. (K.S.C)Real Estate116116
Kuwait Foundry Co. (S.A.K)Metals and Mining116106
Tamkeen Holding Co. (K.S.C)Industrial Conglomerates116NANA
Sultan Center Food Products Co. (K.S.C)Retail120110
Jiyad Holding Company (K.S.C.Holding)Diversified Financial Services120133
Al-Enma'a Real Estate Co. (K.S.C)Real Estate12083
The Energy House Holding Company (K.S.C)Diversified Financial Services123116
Danah Al Safat Foodstuff Company (K.S.C.)Food and Beverages123106
Wethaq Takaful Insurance Company (K.C.S)Insurance123113
Salbookh Trading Co. (K.S.C)Construction Materials123159
Kuwait Portland Cement Company (K.S.C)Construction Materials127124
National Industries Group Holding (S.A.K.)Industrial Conglomerates127122
Aviation Lease and Finance CompanyTransportation and Logistics127113
Shuaiba Industrial Company (K.P.S.C.)Containers & Packaging127121
Kuwait Real Estate Holding Company (K.S.H)Real Estate13187
Integrated Holding Company Diversified Financial Services131116
Bayan Investment CO. (K.S.C.P)Diversified Financial Services133139
Al-Manar Financing & Leasing CompanyDiversified Financial Services133NANA
Kuwait Cable VisionBusiness Support Services135NANA
Arkan Al-Kuwait Real Estate Co. (K.S.C)Real Estate136102
Dalaqan Real Estate Co. (K.S.C)Real Estate136NANA
Mena Real Estate Company (K.S.C)Real Estate138126
Al-Massaleh Real Estate Company (K.S.C)Real Estate139126
Heavy Engineering Industries & Shipbuilding Company (K.S.C.)Energy140128
Taameer Real Estate Investment Co. (K.S.C)Real Estate140128
Kuwait Reinsurance Company (K.S.P.C)Insurance142139
The Securities House (K.S.C)Diversified Financial Services142133
Hayat Communications CompanyTelecommunication142NANA
Asiya Capital Investments Company (K.S.C.P)Diversified Financial Services145139
Kuwait Business Town Real Estate Co. (K.S.C)Real Estate145131
Al-Mal Investment Company (K.S.C)Diversified Financial Services145131
Abyaar Real Estate Development Co. (K.S.C)Real Estate148133
Gulf Petroleum Investment (S.A.K)Energy148148
Kuwait Resorts Company (K.S.C)Hotels and Leisure150133
Kuwait Syrian Holding Company (K.S.C. Holding)Diversified Financial Services151148
Al-Salam Group Holding CO. (K.S.C)Diversified Financial Services151152
Equipment Holding Co. (K.S.C)Retail151142
Ektettab Holding Co. (S.A.K)Diversified Financial Services154145
Specialities Group Holding Co. (K.S.C)Construction & Engineering154145
National Shooting Company (K.S.C)Hotels and Leisure154142
Credit Rating & Collection (K.S.C)Diversified Financial Services157152
Investors Holding Group Company (K.S.C)Real Estate157148
Al-Madina For Finance and Investment Co. (S.A.K)Diversified Financial Services157148
Arabi Holding Group CO. (K.S.C)Industrial Conglomerates157133
Educational Holding Group (S.A.K)Education161152
Kuwait Remal Real Estate Company (K.S.C)Real Estate161152
Hilal Cement Company (K.S.C)Construction Materials161152
Warba Capital Holding Co (K.S.C)Diversified Financial Services165158
UniCap investment and FinanceDiversified Financial Services165145
National Consumer Holding Co.Industrial Conglomerates167NANA
Al Mudon Intl. Real Estate Co.Real Estate168160
Gulf Franchising Holding Co. (K.S.C)Diversified Financial Services168NANA
Ajwan Gulf Real Estate Co.Real Estate170116
Palms Agro Production Co.Food and Beverages171NANA
Al-Maidan Dental Clinic Co.Health Care172NANA

* Based on Fiscal Year 2019

Muscat Securities Market

CompanySectorRank 2019Rank 2018Trend
Renaissance Services SAOGBusiness Support1NANA
Bank MuscatBanks21
Oman TelecommunicationsTelecommunication32
Shell Oman Marketing Co.Energy44
Omani Qatari Telecom.Telecommunication58
HSBC Bank OmanBanks67
Oman Cables IndustryElectrical Components75
Sohar International BankBanks86
National Bank of OmanBanks93
Bank DhofarBanks109
Oman CementConstruction Materials1115
Voltamp EnergyElectrical Components1111
Raysut CementConstruction Materials139
Oman Investment and Finance CompanyBusiness Support Services1422
Al Maha Petroleum Products Marketing CompanyRetail1412
Oman United Insurance CompanyInsurance1613
National GasEnergy1716
Al Jazeera Steel ProductsMetals and Mining1716
A’Sharqiya Investment Holding Co.Diversified Financial Services1914
Almaha CeramicsConstruction Materials2019
Taageer Finance CompanyDiversified Financial Services2121
Al Madina TakafulInsurance2220
Al Madina InvestmentDiversified Financial Services2325
Al Anwar Holdings SAOGInsurance2416
Al Jazeira ServicesHotels and Leisure2524
Al Anwar Ceramic TilesConstruction Materials2623
Oman Flour MillsFood and Beverages2626
OminvestDiversified Financial Services2827
Al Omaniya Financial ServicesDiversified Financial Services28NANA

* Based on Fiscal Year 2019

Amman Stock Exchange

1Arab BankBanks
2Jordan Islamic BankBanks
3Jordan Ahli BankBanks
4Arab Banking CorporationBanks
5Cairo Amman BankBanks
6Jordan Petroleum Refinery Company LTDEnergy
7The Housing Bank for Trade and FinanceBanks
8Bank of JordanBanks
9Jordan Kuwait BankBanks
10Jordan Commercial BankBanks
11Bank Al EtihadBanks
12Societe Generale de Banque JordanieBanks
13The Arab PotashMetals and Mining
14Safwa Islamic BankBanks
16Capital BankBanks
17Arab Jordan Investment BankBanks
18Irbid District ElectricityUtilities
19Jordan Electric PowerUtilities
20The Arab International for Education & InvestmentEducation
21Northern Cement Co.Construction Materials
22Jordan TelecomTelecommunication
23Afaq for Energy Co PLCEnergy
24Al-Nisr Al-Arabi InsuranceInsurance
25Ready Mix Concrete and Construction SuppliesConstruction Materials
26Zarqa Educational & Investment Co.Education
27Rum Group for Transportation & Tourism InvestmentTransportation and Logistics
28Masafat Specialized TransportTransportation and Logistics
29Jordan Insurance CompanyInsurance
30The Arab Pesticides & Veterinary Drugs mfg. Co.Chemicals
31First FinanceDiversified Financial Services
32Arab International HotelsHotels and Leisure
33The Jordan Worsted MillsRetail
34Al-Isra for Education and InvestmentEducation
35Petra Education CompanyEducation
36Jordan National Shipping LinesTransportation and Logistics
37Dar Al Dawa Development and Investment Co.Health Care
38Arab Life & Accident InsuranceInsurance
39Al Dawliyah for Hotels and MallsHotels and Leisure
40Jordanian Duty Free ShopsRetail
41Philadelphia International Educational Investment CompanyEducation
42Arab Aluminium IndustryMetals and Mining
43Middle East InsuranceInsurance
44Arabia Insurance Company - JordanInsurance
45Jordan International InsuranceInsurance
46The Islamic InsuranceInsurance
47Solidarity - First InsuranceInsurance
48Jordan Hotels & Tourism CompanyHotels and Leisure
49Ittihad SchoolsEducation
50Al-Bilad Medical Services CompanyHealth Care
51Ibn Alhaytham Hospital CompanyHealth Care
52Hayat Pharmaceutical Industries CompanyHealth Care
53Jerusalem InsuranceInsurance
54The United InsuranceInsurance
55The Arab Financial Investment CompanyDiversified Financial Services
56United Financial InvestmentsDiversified Financial Services
57Al-Sharq Investment ProjectsHotels and Leisure
58Universal Modern IndustriesFood and Beverages
59Philadelphia PharmaceuticalsHealth Care
60National InsuranceInsurance
61Century Investment GroupDiversified Financial Services
62General InvestmentFood and Beverages
63Al-Eqbal Investment CompanyTobacco
64Al-Amal Financial InvestmentsDiversified Financial Services
65Jordan Express Tourist TransportTransportation and Logistics
66National Aluminum IndustrialMetals and Mining
67The Arab International Food FactoriesFood and Beverages
68The Real Estate & Investment Portfolio Co.Real Estate
69Contempro for Housing ProjectsReal Estate

* Based on Fiscal Year 2018

Beirut Stock Exchange

1Bank AudiBanks
2BLOM BankBanks
3Holcim LibanConstruction Materials
4Bank of BeirutBanks
5BLC BankBanks
6Banque BEMOBanks
7Byblos BankBanks
8SolidereReal Estate
9Rasamny Younis Motor CompanyRetail
10S. L. des Ciments BlancsConstruction Materials

* Based on Fiscal Year 2018

Palestine Exchange

1The National BankBanks
2Arab Islamic BankBanks
3Palestine Securities ExchangeDiversified Financial Services
4Bank of PalestineBanks
5AL-Quds Bank for Development & InvestmentBanks
6Palestine Industrial Investment CompanyIndustrial Conglomerates
7Palestine Telecommunication CoTelecommunication Services
8Beit Jala Pharmaceutical CompanyHealth Care
9Palestine Islamic BankBanks
10National Insurance CoInsurance
11Jerusalem Pharmaceutical CoHealth Care
12Wataniya MobileTelecommunication Services
13Al-Shark Electrode CompanyElectrical Components and Equipment
14The National Carton IndustryContainers & Packaging
15Trust International Insurance Co.Insurance
16Ahliea Insurance GroupInsurance
17Al Mashriq Insurance CoInsurance
18Arab Company for Paints ProductsChemicals
19Nablus Surgical CenterHealth Care
20National Aluminium and ProfileMetals and Mining
21Palestine Poultry CompanyFood and Beverages
22Union Construction and InvestmentReal Estate
23Arab Hotels Co.Hotels and Leisure
24Arab Palestinian Investment CompanyIndustrial Conglomerates
25Birzeit Pharmaceutical CompanyHealth Care
26Dar Al-Shifa PharmaceuticalsHealth Care
27Golden Wheat Mills Co.Food and Beverages
28Palestine Investment BankBanks
29Al-Takaful Palestinian InsuranceInsurance
30Palestine Development & Investment Co.Diversified Financial Services
31Palestine Insurance CompanyInsurance
32Palestine Plastic Industries Co.Containers & Packaging
33Al-Wataniah TowersReal Estate
34Global United Insurance CompanyInsurance
35Sanad Construction ResourcesConstruction Materials
36The Vegetable Oil Industries CompanyFood and Beverages
37Arab Real Estate Establishment CoReal Estate
38Palestine Real Estate Investment CoReal Estate
39Globalcom Telecommunications PlcTelecommunication Services
40Jerusalem Real Estate Investment CoReal Estate
41PalAqar for Real Estate Development & ManagementReal Estate
42Palestinian Company for Distribution & Logistic ServicesTransportation and Logistics
43Arab Investors PublicDiversified Financial Services
44Jerusalem Cigarette CoTobacco
45Palestine Electric CompanyUtilities
46Palestine Investment and Development CoIndustrial Conglomerates
47The Ramallah Summer Resorts CompanyHotels and Leisure
48Al-Aqariya Trading InvestmentReal Estate
50The Saudi British Bank ESG Report 2018test

* Based on Fiscal Year 2018


Darin Rovere
Founder and CEO

International expert and innovator in corporate sustainability with 15 years experience working with world leading companies and governments across more than 15 sectors and four continents.

Houssam Lahrech
Head of ESG Invest

ESG expert with substantial experience combining sustainability and financial management within a leading ESG rating agency and the most innovative Asset Management firm.