Capital Market Authority's Efforts to Enhance Corporate Social Responsibility

May 6, 2023

Capital Market Authority’s Efforts to Enhance Corporate Social Responsibility

Order ID	53563633773
Type	Essay
Writer Level	Masters
Style	APA
Sources/References	4
Perfect Number of Pages to Order	5-10 Pages

Description/Paper Instructions

Capital Market Authority’s Efforts to Enhance Corporate Social Responsibility (CSR)

Corporate social responsibility (CSR) is a business practice that focuses on the ethical and responsible conduct of companies towards their stakeholders, including their employees, customers, suppliers, and the wider community. CSR involves businesses taking responsibility for the impact of their operations on the environment, society, and the economy. The Capital Market Authority (CMA) is the regulatory body in Saudi Arabia responsible for promoting the development of the capital market and protecting investors’ rights. The CMA has been making efforts to enhance CSR among companies operating in the country. In this essay, I will discuss the CMA’s efforts to promote CSR and their impact.

The CMA has taken several steps to enhance CSR in Saudi Arabia. In 2010, the CMA introduced the Corporate Governance Regulations, which require companies listed on the Saudi Stock Exchange to comply with certain standards of corporate governance. These regulations include requirements for board independence, disclosure of material information, and accountability to shareholders. The regulations aim to improve the transparency and accountability of companies, which is an essential component of CSR.

In 2017, the CMA launched the Environmental, Social, and Governance (ESG) Guide for Listed Companies. The guide provides a framework for companies to report on their ESG performance and encourages companies to adopt sustainable business practices. The guide is voluntary, but it is expected to become mandatory in the future. The guide aligns with the international best practices in ESG reporting and helps companies to meet the increasing demand for ESG disclosure from investors.

The CMA has also established the Sustainability and Social Responsibility Committee (SSRC), which is responsible for promoting sustainability and CSR in the capital market. The SSRC works with companies to develop sustainability and CSR policies and practices and provides guidance on ESG reporting. The committee also conducts research on ESG issues and shares best practices with companies.

Another significant initiative by the CMA is the introduction of the Sustainable Finance Framework in 2020. The framework provides guidelines for issuers of green, social, and sustainability bonds and sukuk. The framework aims to promote sustainable finance in the country by encouraging companies to issue sustainable bonds and sukuk, which can be used to finance sustainable projects. The framework provides a framework for investors to assess the environmental and social impact of the projects financed by these instruments.

The CMA has also established partnerships with international organizations to promote CSR in Saudi Arabia. In 2019, the CMA signed a Memorandum of Understanding (MoU) with the United Nations Global Compact to promote sustainability and CSR among companies in Saudi Arabia. The UN Global Compact is a voluntary initiative that encourages companies to adopt sustainable and socially responsible policies and practices. The MoU aims to help companies in Saudi Arabia to align their operations with the UN Sustainable Development Goals.

The CMA’s efforts to enhance CSR have had a positive impact on companies operating in Saudi Arabia. Many companies have adopted sustainable business practices and have implemented ESG reporting. The CMA’s regulations and guidelines have encouraged companies to improve their corporate governance practices, which has increased transparency and accountability. The CMA’s initiatives have also helped to raise awareness about sustainability and CSR among companies and investors.

In conclusion, the CMA has played an important role in promoting CSR among companies operating in Saudi Arabia. The CMA’s efforts have included the introduction of regulations and guidelines for corporate governance and ESG reporting, the establishment of the SSRC, the introduction of the Sustainable Finance Framework, and partnerships with international organizations. These initiatives have had a positive impact on companies in Saudi Arabia, encouraging them to adopt sustainable business practices and improving transparency and accountability. The CMA’s efforts have helped to raise awareness about sustainability and CSR among companies and investors and have contributed to the development of a more sustainable and responsible business culture in Saudi Arabia.

Capital Market Authority’s Efforts to Enhance Corporate Social Responsibility

RUBRIC

QUALITY OF RESPONSE	NO RESPONSE	POOR / UNSATISFACTORY	SATISFACTORY	GOOD	EXCELLENT
Content (worth a maximum of 50% of the total points)	Zero points: Student failed to submit the final paper.	20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking.	30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking.	40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete.	50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing.
Use of Sources (worth a maximum of 20% of the total points).	Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper.	5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6^th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper.	10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6^th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources.	15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6^th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources.	20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6^th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment.
Grammar (worth maximum of 20% of total points)	Zero points: Student failed to submit the final paper.	5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors	10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors	15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage.	20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free.
Structure of the Paper (worth 10% of total points)	Zero points: Student failed to submit the final paper.	3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6^th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6^th edition requirements whatsoever.	5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6^th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper	7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment.	10 points: Student provides a high-caliber, formatted paper. This includes an APA 6^th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper.

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