UAE-based social enterprise Aurora50 has collaborated with five of UAE’s prominent financial centers and exchanges to enhance female representation at the board-level.
The five financial centers and exchanges namely Abu Dhabi Global Market (ADGM), Abu Dhabi Securities Exchange (ADX), Dubai International Financial Centre (DIFC), Dubai Financial Market (DFM), and Nasdaq Dubai will work closely with Aurora50 to drive change in these organizations.
Environmental, Social and Governance (ESG) perspectives such as Diversity and inclusion are going to play a significant role and will demand heightened investor scrutiny as global economies restart in the wake of the COVID-19 pandemic. Board-level diversity is often linked to better governance and financial performance and can also contribute to greater national competitiveness.
Commending this partnership, Sheikha Shamma bint Sultan bin Khalifa Al Nahyan, Co-founder of Aurora50, said, “Collaboration and innovation within our financial sector have contributed significantly to the UAE’s position as a globally competitive market. Greater diversity will only serve to reinforce our standing.”
“I am confident that, with our newest partners on board, we will be able to increase momentum and impact change. It is through such partnerships that we are able to grow our ecosystem and shape the future of women on boards,” Sheikha Shamma continued.
As part of the collaboration, the financial centers and exchanges will be recognized as Founding Knowledge Partners of the initiative, and commit to promoting the initiative through relevant networks and channels.
As part of the agreement, the partners will also develop and deliver board-specific workshops, such as finance essentials for directors, for the inaugural “20 for 2020” participant cohort.
Khalifa Al Mansouri, Chief Executive of the ADX, remarked, “Through our partnership with Aurora50, we intend to actively participate and support the “20 for 2020″ board-level training programs, workshops and events.”
Arif Amiri, CEO of the DIFC, added, “DIFC has championed gender diversity and inclusivity since establishing operations 16 years ago. During this time, we have built a reputation for accelerating women into senior positions. Over 60 percent of DIFC Authority staff and 33 percent of people working in the region’s largest financial center ecosystem are female, meaning the pipeline for board positions is tremendous.”
Hamed Ali, CEO of Nasdaq Dubai and Deputy CEO of DFM, said, “Emirati and other women have already played leadership roles in the exchange’s achievements and we look forward to actively encouraging more women to take senior positions in this sector.”
Aurora50 is a social enterprise that aims to tackle global problems that need communities to work together, create innovative solutions and drive positive change
The initiative is kick-starting the discussion around board-level gender diversity with “The Board Summit”, a virtual event on 25th and 26th August 2020.
The event sessions have been carefully curated to stimulate thought-provoking discussions on diversity and inclusion, particularly among an audience of board directors and high-potential board talent.
