The announcement coincides with Abu Dhabi Sustainability Week.
Abu Dhabi, UAE – Ruya Partners Limited, an Abu Dhabi Global Market (ADGM) based alternative investment firm focused on private credit investments in developing markets, announced today that it has created an Environmental, Social and Governance (“ESG”) policy for all its investment decisions spanning across the MENA region. The announcement coincides with Abu Dhabi Sustainability Week.
Ruya’s ESG policy is an inclusive policy aimed at being a catalyst for positive ESG change at its investee companies. Through the ESG policy, Ruya will seek to align with international ESG best practice standards as adapted for the Middle East and North Africa (MENA) region, including:
- The Principles for Responsible Investment (PRI) Principles;
- The Sustainability Accounting Standards Board (SASB) Standards; and
- The recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD).
Omar Al Yawer, Partner at Ruya Partners, stated “Our aim was to develop an ESG policy that aligns well with global standards, evolving and inclusive from an investment stand-point when applied to a region that is responsible for c. 40% of global crude oil exports and also enhances our ability to make good investment decisions.” To create this policy, Ruya partnered with ESG Global Advisors, a leading international ESG consulting firm, based in Canada which has completed several ESG related assignments with various oil and gas, mining and investment companies.
Founding Partners Mirza Beg and Rashid Siddiqi, elaborated “We believe that integrating ESG considerations into our investment process will enhance our ability to achieve better returns across market and economic cycles and create positive socio-economic impacts. ESG integration is consistent with Ruya’s corporate values and an important element of our personal moral duties.”
By engaging investee companies on enhancing their ability to identify, measure, monitor and manage ESG risks and opportunities, Ruya will seek to create meaningful long-term partnerships that enable these companies to improve their own economic profile and align with international market expectations relating to ESG. Through providing transparency on their ESG approach, Ruya will also seek to enable its investors to meet their own ESG reporting commitments. The Founding Partners added “We believe that ESG will gain an increasing amount of recognition and importance within the investment community in our region over the coming years. We are also fortunate to be based in a region where many GCC governments are proactively supporting ‘net zero’ initiatives which we believe will lead to a strong trickledown effect over time on companies to evolve towards best ESG standards.”
Sarah Keyes, CEO of ESG Global Advisors, said: “We are honoured to have been chosen to work with Ruya Partners on the development and implementation of its ESG policy. We are impressed by Ruya’s determination to integrate ESG into their investment process right from the start, their commitment to embed global ESG standards in a practical way that reflects regional priorities and realities, and their ambition to become a regional leader within the ESG community.” Michelle de Cordova, Principal at ESG Global Advisors, added: “Designing an ESG approach suitable for an investor in mid-market private companies within emerging markets presents challenges, but with its focus on partnership with current and potential investees, we believe Ruya can help companies to enhance their ESG performance while meeting their growth and expansion aspirations in a way that will add value for all parties.”
About Ruya Partners
Ruya (“Vision” in Arabic) was founded with the mission of providing flexible capital solutions to private sector companies in developing economies where traditional financing markets leave a significant funding gap, particularly in the small to medium sized enterprise segment. This segment is vital for the regional economies and plays a significant role towards achieving GDP growth, diversification and advancing the goals of regional socio-economic agendas. Ruya provides bespoke funding solutions to this segment while delivering attractive returns underpinned with regular current income to its investors. Ruya, which is headquartered in ADGM, is regulated by ADGM’s Financial Services Regulatory Authority and is licensed to manage collective investment funds.
Omar Al Yawer, Partner
About ESG Global Advisors
As a trusted partner of both companies and investors, ESG Global Advisors is driven by an informed belief that Environmental, Social and Governance issues matter and that businesses that incorporate them into their decision-making stand to thrive over the long-term. Headquartered in Toronto, Canada, its team of senior-level professionals — all with deep experience in the capital markets — bridges the gap between companies and investors, offering expert advice to corporations on material ESG factors that drive long-term value, and helping institutional investors and other capital market participants to integrate ESG factors into their investment process.