Do Egyptian Listed Companies Support SDGs? Evidence From UNCTAD Guidance on Core Indicators Disclosures

Corporate Governance and Sustainability Review, 5(2), 73-81, 2021, https://doi.org/10.22495/cgsrv5i2p6

9 Pages Posted: 2 Jun 2021

See all articles by Ahmed M. Abdel-Meguid

Ahmed M. Abdel-Meguid

The American University in Cairo - School of Business

Khaled M. Dahawy

The American University in Cairo

Nermeen F. Shehata

The American University in Cairo

Date Written: May 2021

Abstract

This paper provides an exploratory analysis of the extent of Sustainable Development Goals disclosure (SDGD) by the top 30 Egyptian companies. We use the 33 core indicators of the United Nations Conference on Trade and Development (UNCTAD), which span economic, institutional, social, and environmental areas. Overall, the results suggest that SDGD in Egypt is still gaining traction, as indicated by a relatively low average disclosure score of only 25%, which translates to approximately eight indicators. We also document a variation in SDGD among the four areas, where disclosure addressing economic and institutional indicators is higher than that of social and environmental areas. This variation could be attributed to the differential regulatory and legal intensity. Disclosure is most noticeable for taxes, employment, women empowerment, financial transparency, corporate governance, and energy. We argue that Egypt has the legislative infrastructure and clear political will from the state to support sustainable development. However, there is a need for coordinated awareness efforts to establish a culture of sustainable development among various stakeholders, including businesses. Finally, there should be a stronger conviction regarding the importance of information sharing as well as comprehensive reporting standards and enhanced regulatory enforcement. To the best of our knowledge, this is the first paper to address the status of SDGD in Egypt. Accordingly, there is a need for future research that analyzes both the determinants of SDGD and its consequences.

Keywords: Disclosure, Egypt, Sustainability, Sustainable Development Goals (SDGs), Guidance on Core Indicators (GCI)

JEL Classification: M14, M41, O16

Suggested Citation

Abdel-Meguid, Ahmed M. and Dahawy, Khaled M. and Shehata, Nermeen F., Do Egyptian Listed Companies Support SDGs? Evidence From UNCTAD Guidance on Core Indicators Disclosures (May 2021). Corporate Governance and Sustainability Review, 5(2), 73-81, 2021, https://doi.org/10.22495/cgsrv5i2p6, Available at SSRN: https://ssrn.com/abstract=3853714

Ahmed M. Abdel-Meguid

The American University in Cairo - School of Business ( email )

The American University in Cairo (AUC)
School of Business
New Cairo, 11835
Egypt

Khaled M. Dahawy

The American University in Cairo ( email )

P.O. Box 2511
Cairo
Egypt

Nermeen F. Shehata (Contact Author)

The American University in Cairo ( email )

AUC Avenue
P.O. Box 74, New Cairo 11835
Cairo
Egypt

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