December and January News Highlights

9 February 2024

This month includes news from the Botswana Stock Exchange, Boursa Kuwait, Bursa Malaysia, Colombo Stock Exchange, and more. Monthly news highlights are compiled by the SSE to give an overview of the capital markets' sustainability news from that month. You can subscribe to our monthly news highlights by clicking here. SSE INITIATIVE NEWS & EVENTS  COP28: Exchanges and regulators focus on supporting the transition to Net Zero economies 5 December 2023 At the COP28 climate negotiations, the United Nations Sustainable Stock Exchanges (UN SSE), in collaboration with International Organization of Securities Commissions (IOSCO) and UNFCCC, convened leaders from security market regulators, standard setters and stock exchanges to provide insights on actions that stock exchanges and regulatory authorities can undertake to advance the transition towards a sustainable, climate-friendly future. COP28: Japan Exchange Group, Latinex and Philippine Stock Exchange join the Net Zero Financial Service Providers Alliance (NZFSPA) 5 December 2023 Three new exchanges joined the Net Zero Financial Service Providers Alliance (NZFSPA) on Finance Day at COP28 in Dubai, committing to support a transition of their markets towards becoming net zero by 2050 at the latest.  COP 28: SSE technical panel discusses next steps for climate through regulation, standardisation and capacity building 5 December 2023 On Finance Day at the 28th annual United Nations climate change conference (COP28) in Dubai, the SSE convened capital market stakeholders to discuss the operational-level next steps required to advance on climate disclosures and net zero targets. The panel discussion, moderated by SSE Academy Head Ms. Tiffany Grabski, discussed the role of capital market infrastructure and the institutions behind it for enhancing the private sector’s contribution to key objectives being negotiated at COP.  Asian sustainable finance stakeholders convene on the role of stock exchanges to advance disclosure 7 December 2023 The China Sustainable Investment Forum (SIF), Sustainable Banking and Finance Network (SFBN) and UN SSE convened a roundtable with stakeholders from around the region on the role of stock exchanges in advancing corporate sustainability disclosure. COP28: SSE Contributes to Oxford Master Class on Governing a Transition to Net Zero 7 December 2023 SSE Academy Head Dr. Tiffany Grabski was invited to present at the Oxford Net Zero Master Class on Net Zero Policy and Regulation. Dr. Grabski spoke about the role of capital markets in building capacity to facilitate the transition to a zero-emissions economy, highlighting the importance of convergence of standards with built-in flexibility for local adaptation. UN SSE contributes to voluntary carbon market deliberations at COP28 7 December 2023 The UN Sustainable Stock Exchanges initiative contributed to two meetings held at COP28 around the topic of voluntary carbon markets (VCMs) and the contribution these markets can make in the transition to net zero. COP28: Dubai Financial Markets (DFM) hosts SSE Panel on climate disclosure standards 8 December 2023 Dubai Financial Markets (DFM) hosted a UN Global Compact SDG Investment Forum as a side event to the United Nations climate change conference (COP28) together with the UN SSE initiative and UN Global Compact. The SSE convened capital market stakeholders for a session titled “A Primer for the Adoption of the ISSB Standards”.   SSE, IFC, UN Women launch Asian and African benchmarks on gender equality in corporate leadership 14 December 2023 On 13 December 2023, the United Nations Sustainable Stock Exchanges (UN SSE) in partnership with IFC, a member of the World Bank Group, and UN Women, launched two reports on gender equality in corporate leadership as part of the SSE’s Q4 2023 Quarterly Webinars FEAS and SSE launch Arabic translation of sustainability guidance 19 December 2023 As part of the Exchange of Letters signed by the UN SSE and the Federation of Euro-Asian Exchanges (FEAS) at the UNCTAD World Investment Forum, the two organizations published their first joint-project. To support exchanges working on embedding sustainability in their markets, FEAS translated “How exchanges can embed sustainability within their operations: A blueprint to advance action” into Arabic to support their Arabic-speaking members.  SSE Launches toolkit for exchanges to help guide markets on the new IFRS Sustainability Disclosure Standards 16 January 2024 In response to demand from SSE Partner Exchanges for support on the new sustainability disclosure standards recently launched by the IFRS Foundation, the SSE and its partners developed a toolkit to help exchanges and market participants. This toolkit includes a new Model Guidance that has been reviewed by the IFRS International Sustainability Standards Board (ISSB).  UN SSE Q4 Webinar – Launch of the Asia and Africa regional Market Monitors on Gender Equality in Corporate Leadership 13 December 2023 During this quarterly webinar, we are publishing, in collaboration with our partners at IFC and UN Women, two important benchmarks for exchanges to measure their markets’ progress on boardroom gender equality 2024 Ring the Bell for Gender Equality 8 March 2024 In celebration of International Women’s Day (8 March 2024), the Sustainable Stock Exchanges initiative is pleased to announce the continuation of stock exchanges around the world hosting a bell-ringing ceremony to raise awareness for gender equality. SSE ACADEMY WORKSHOPS The following SSE Academy workshops took place since our last newsletter. SSE Academy workshops are hosted by SSE Partner Exchanges and invitations are managed directly by the exchange. To participate in any of these free-of-cost training opportunities, please contact the exchange directly. For upcoming workshops, visit www.SSEinitiative.org/sse-academy/  ASX training on IFRS Sustainability Disclosure Standards 30 January 2024 The Australian Securities Exchange (ASX) hosted the SSE Academy and its partners the IFRS Foundation and the World Bank’s IFC to train its market on the IFRS Sustainability Disclosure Standards. The training workshop was attended by nearly 1,000 participants. LuxSE training on Gender Equality and Capital Markets 14 January 2024 The Luxembourg Stock Exchange (LuxSE) hosted the SSE Academy and its partners UN Women and the World Bank’s IFC to train its market on gender equality and global markets. Guest speakers from LuxSE, Bloomberg and Gap Square also presented practical insights in this workshop. The training workshop was attended by 41 participants. Training on IFRS Sustainability Disclosure Standards for Stock Exchanges 9 and 11 January 2024 The SSE Academy and its partners the IFRS Foundation and the World Bank’s IFC held two training sessions for SSE Partner Exchanges and regulatory authorities on the IFRS Sustainability Disclosure Standards. The training workshop was attended by more than 200 participants. Saudi Exchange training on IFRS Sustainability Disclosure Standards 12 December 2023 The Saudi Exchange hosted the SSE Academy and its partners the IFRS Foundation and the World Bank’s IFC to train its market on the IFRS Sustainability Disclosure Standards. The training workshop was attended by 300 participants.  EXCHANGE NEWS “Revolutionizing Thailand’s Capital Market: SET Professionals Forum 2023 Unveils Five Key ESG Trends for 2024” 2 December 2023 The SET ESG Professionals Forum 2023 marked a new chapter for Thailand’s capital market with its unveiling of five groundbreaking ESG trends for 2024. Hosted by the Stock Exchange of Thailand (SET) and the SET ESG Experts Pool, this event brought together an exceptional network of sustainability professionals under the theme “Together for Change.” Bursa Malaysia launches platform for mandatory ESG reporting 4 December 2023 KUALA LUMPUR: Bursa Malaysia Securities Bhd today unveiled the Bursa Malaysia ESG Reporting Platform, which will act as a repository for disclosures conforming to the prescribed format mandated under Bursa Malaysia’s enhanced sustainability reporting requirements introduced on Sept 26, 2022. SIX Reaches A Global Agreement With Greenomy For Sustainability Reporting In Swiss And Spanish Markets 4 December 2023 SIX, the Swiss and Spanish stock exchange operator and global financial information provider, and Greenomy, the leading ESG reporting provider, have announced an alliance to help financial institutions and companies in both markets efficiently comply with ESG frameworks, enabling them to measure, improve sustainability performance and access green financing opportunities. Cyprus Stock Exchange advocates for sustainable development 7 December 2023 Cyprus Stock Exchange (CSE) president Marinos Christodoulides recently emphasised the growing importance of Sustainable Development, Social Responsibility, and Corporate Governance in the financial sector. Launch of CSE Sustainability Reporting Guide & awareness session 8 December 2023 The Colombo Stock Exchange (CSE), in collaboration with the Global Reporting Initiative (GRI), developed the 3rd version of the sustainability reporting guide, which was ceremonially launched at the Market Opening Bell Ringing ceremony held at the trading floor of the CSE. The publication is now available at www.cse.lk. Risks Insights helps Botswana firms uphold ESG standards 11 January 2024 The Botswana Stock Exchange (BSE) has teamed with Risks Insights (RI), a South African company, to provide access to AI-powered platforms that generate Environmental, social, and corporate governance (ESG) ratings, insights, and analytics. Thailand rolls out first ESG funds under new tax scheme 15 December 2023 Thailand has launched 22 mutual funds with a focus on environmental, social and governance (ESG) principles, which are expected to raise 10 billion baht (US$284 million) by year-end. The funds, launched by 16 asset management firms, form the first batch of Thai ESG (TESG) funds under a programme of the Securities and Exchange Commission (SEC) in collaboration with the Ministry of Finance, Federation of Thai Capital Market Organizations (FETCO), the Stock Exchange of Thailand (SET), and the Association of Investment Management Companies (AIMC). Latinex's Outlook for 2024 January 2024 Ms Olga Cantillo, CEO of the Bolsa Latinoamericana de Valores (Latinex) is interviewed by WFE, discusses integrating sustainability into strategy.  SET Gears For Sustainable Quality Capital Market Under 2024-2026 Plan 19 January 2024 Turning 50 years in operations in 2024, The Stock Exchange of Thailand (SET) unveils a three-year strategic plan (2024-2026) to create quality Thai capital market for sustainable growth (Delivering Market Quality x Growth). SIX Launches New Climate Data Offering 24 January 2024 Today, SIX, the global financial information provider, is announcing the launch of its new climate data offering to support the reporting and monitoring of climate factors, as well as climate-related investment and risk decision making. Boursa Kuwait crowned for its achievements in Corporate Sustainability and Social Responsibility in 2023 28 January 2024 Kuwait City: Driven by its commitment to supporting corporate sustainability (CS) standards and practices as well as instilling concepts of socially and environmentally responsible operations, Boursa Kuwait was successful in achieving prominent awards and accolades from several prestigious organizations and publications, establishing strategic partnerships with local and international organizations to organize more than 30 programs and initiatives within the pillars of its CS strategy of community and the environment throughout 2023. REGULATORS AND STANDARD SETTER NEWS ISSB at COP28: close to 400 organisations from 64 jurisdictions, including associations gathering over 10,000 member companies and investors, join multilateral and market authorities to commit to advance the ISSB climate global baseline 4 December 2023 Close to 400 organisations from 64 jurisdictions have committed to advancing the adoption or use of the International Sustainability Standards Board’s climate-related reporting at a global level. IOSCO Uses Presence At COP28 To Drive Debate On Sustainable Finance 7 December 2023 The International Organization of Securities Commissions (IOSCO), the global standard setter for securities market regulation, actively engaged on its sustainable finance agenda, delivering over 30 speeches and participating at various events with the global regulatory and financial community. Transparency standard to inform global response to biodiversity crisis 25 January 2024 As nature faces unprecedented pressures, with human activity the leading cause for one million animal and plant species being pushed to the brink of extinction, GRI has today published a major update to its Biodiversity Standard. The EBA Seeks Inputs From Credit Institutions On The Classification Methodologies For Exposures To ESG Risks 29 January 2024 The European Banking Authority (EBA) today launched an industry survey to receive input from credit institutions on their methodologies to classify exposures to environmental, social and governance (ESG) risks, as well as on the accessibility and availability of ESG data for this purpose. The World Federation Of Exchanges Announces Priorities For 2024 30 January 2024 The World Federation of Exchanges (WFE), the global industry group for exchanges and CCPs, announces its 2024 priorities, including how market infrastructures can lead on ESG issues.  GENDER EQUALITY Bursa Malaysia Ranks As Asia’s Leading Exchange In Gender Equality In Corporate Leadership 13 December 2023 Bursa Malaysia Berhad ("Bursa Malaysia" or the "Exchange") stands at the forefront of gender equality in the boardroom, as recognised in the Gender Equality in Corporate Leadership Asia 2023 Report (“Report”), released by the United Nations Sustainable Stock Exchange (UN SSE) and International Finance Corporation (IFC) today.  The EBA Provides Guidance On The Benchmarking Of Diversity Practices Under The Capital Requirements And Investment Firms Directives 18 December 2023 The European Banking Authority (EBA) today published the final Guidelines on the benchmarking of diversity practices, including diversity policies and gender pay gap, under the Capital Requirements Directive (CRD) and the Investment Firms Directive (IFD).

About the SSE

​The SSE initiative is a UN Partnership Programme organised by UNCTAD, the UN Global Compact, UNEP FI and the PRI. The SSE’s mission is to provide a global platform for exploring how exchanges, in collaboration with investors, companies (issuers), regulators, policymakers and relevant international organizations, can enhance performance on ESG (environmental, social and corporate governance) issues and encourage sustainable investment, including the financing of the UN Sustainable Development Goals. The SSE seeks to achieve this mission through an integrated programme of conducting evidence-based policy analysis, facilitating a network and forum for multi-stakeholder consensus-building, and providing technical assistance and advisory services.