Tadawul ESG
Saudi Exchange (Tadawul) ESG Disclosure Guidelines (October 2021)
Topic : ESG disclosure · Level : Stock exchange
Today
Voluntary guidance. No CMA mandate or ISSB adoption date for listed issuers as of Nov 2026 (KPMG, Jun 2026).
Summary
Saudi Exchange guidance invites listed companies to publish ESG data. It is voluntary. Binding disclosure exists only for green, social and sustainability-linked debt issuers since May 2025.
Who is concerned
- Turnover
- non précisé
- Employees
- non précisé
- Listed company
- cotées seulement
- Sectors
- All sectors
- Triggering activities
- Shares listed on Saudi Exchange Main Market
- Issuing green/social/sustainability debt
- Extraterritorial reach
- No
non précisé
- Examples
- Saudi petrochemical group listed on Tadawul
- Listed Saudi retailer importing from China
What the law requires
- Disclose ESG metrics voluntarily, ideally annually
- Choose a recognised framework (GRI, ISSB, SASB)
- Disclose use-of-proceeds non-compliance for GSS debt (binding)
Penalties
None for voluntary ESG reporting. CMA GSS Guidelines (27 May 2025) are guiding and set no sanctions; general Capital Market Law powers apply.
What this changes for a supplier in China
Saudi buyers that report voluntarily ask Chinese suppliers for energy and emissions data, mainly in construction, petrochemicals and retail. Requests are rising but not yet systematic.
Expected evidence
- Scope 1-2 emissions of supplied plant
- Energy use and product carbon data
- Code of conduct acknowledgement
Tiers : Tier 1