July monthly news highlights

29 July 2019

This month includes news from ADX, Borsa Italiana, Jamaica SE, Santiago Exchange, DFM, NSE Nigeria, LuxSE, Nasdaq, USA, UK, EU and more. Monthly news highlights are compiled by the SSE to give an overview of the capital markets sustainability news from that month.
 
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SSE INITIATIVE NEWS & EVENTS

SSE Launches Official Supporters Program July 2019 Since its founding 10 years ago, the SSE has grown to include almost all stock exchanges worldwide, and has become the premier platform for collaboration and learning for stock exchanges with capital market regulators, investors, issuers and financial service providers. The SSE seeks partners to become SSE Official Supporters, contributing $10,000 USD annually to ensure exchanges and other key capital market stakeholders have the technical assistance, tools and expertise required to meet their sustainability objectives. On the occasion of its 10th anniversary, the SSE is inviting its partner stock exchanges and other stakeholders to announce their commitment to supporting the initiative and to sustainable capital markets. Find out more here, and contact the SSE Team if you're interested in joining this program. The founding Official Supporters will be announced at the SSE 10 Year Anniversary Event in New York on 26 September. Abu Dhabi Securities Exchange creates environmental, social & governance (ESG) disclosure guidance for listed companies 27 July 2019 Abu Dhabi Securities Exchange (ADX) announced that it has issued an Environmental Social & Governance (ESG) disclosure guidelines for listed companies, as recommended by the UN’s Sustainable Stock Exchanges (SSE) initiative. The guidance document provides companies with a set of 31 KPIs aligned with the exchange’s strategy which is designed to support economic growth, while providing a sustainable trading environment and encouraging the business community to adopt societal sustainability practices. Borsa Italiana hosts the third edition of its Sustainability Day 3 July 2019 Following the enthusiasm of the first two editions, Borsa Italiana and the London Stock Exchange Group (LSEG) organized and held in Milan the third edition of the Italian Sustainability Day. Companies, investors and institutions met in Palazzo Mezzanotte to discuss climate change and share their experiences on ESG topics in the transition towards a more sustainable economy. EVENT: UN SSE initiative 10 Year Anniversary Celebration 26 September 2019, New York Stock Exchange, New York, USA In 10 years, the SSE has grown to 90 exchanges, listing 51,000 companies valued at 86 trillion USD, and it is still growing. This illustrates that participating in a conversation on environmental, social and governance factors has become a necessary part of the investor-exchange-issuer dialogue. To mark the 10 year anniversary since the SSE was initiated in 2009 by the United Nations Secretary General in New York, partners are invited to join in commemorating the progress of sustainable stock exchanges and charting a path for the next 10 years.This is an invitation only event. For more information, please contact the SSE team.

WEBINARS AND EVENTS

TCFD Good Practice Handbook Launch 23 September 2019, New York, USA Join the Climate Disclosure Standards Board (CDSB) and the Sustainability Accounting Standards Board (SASB) for a networking drinks reception at Bloomberg on Monday September 23rd to celebrate the publication of the TCFD Good Practice Handbook.

CONSULTATIONS

Call for feedback on TEG report on EU Taxonomy Due: 13 September 2019 This call for feedback is part of ongoing work by Directorate-general for financial stability, financial services and capital markets union, Directorate-general for environment, Directorate-general for climate action and Directorate-general for energy on sustainable finance, for which the European Commission has set up a dedicated Technical expert group (TEG).

STOCK EXCHANGE NEWS

Jamaica Stock Exchange invests in social sector development 10 July 2019 Half a century after its creation, the Jamaica Stock Exchange continues to ignite growth and transparency in the nation’s economy. Now, in a bid to further boost the social sector, the exchange has set its sights on sustainability Santiago Stock Exchange forms alliance "United for COP25" 10 July 2019 The agreement signed by the Santiago Chamber of Commerce, the Santiago Stock Exchange, the Business Leaders for Climate Action CLG-Chile, the Chile Global Compact Network and ACCIÓN Empresas, seeks to enhance sustainability as a business culture by contributing to a global adaptation agenda before the current Climate Crisis. DFM and DIFC launch "Dubai Sustainable Finance Working Group" 10 July 2019 In line with the UAE Sustainable Development Goals and Dubai's Strategic Plan 2021, the Dubai Financial Market (DFM) and the Dubai International Financial Centre (DIFC) launched a new working group that aims to co-ordinate efforts to create the most sustainable financial hub in the region. Growth in number of Swiss companies committed to sustainable reporting 12 July 2019 More than one third of companies listed in the Swiss Market Index (SMI) have voluntarily committed to sustainability reporting after a push on sustainability reporting by the SIX Exchange Regulation, the autonomous and independent body within the Swiss SIX exchange that monitors issuers. NSE, GRI host round-table on Sustainable Development Goals 23 July 2019 X-Academy, a knowledge platform of The Nigerian Stock Exchange (“the Exchange” or “NSE”) partnered with the Global Reporting Initiative (GRI), to host a roundtable on Sustainable Development Goals (SDGs). The workshop was driven by the need to raise awareness on the inherent economic opportunities and social impact businesses can achieve by aligning their operations towards the achievement of the SDGs. DFM launches Sustainability Strategic Plan 2025, in a first of its kind step among regional markets 27 July 2019 The Dubai Financial Market (DFM) launched its Sustainability Strategic Plan 2025 aimed at underpinning its continuous efforts to promote environmental, social and governance (ESG) best practices among listed companies and other stakeholders. Santiago Exchange and Luxembourg Stock Exchange team up to promote green and social bonds 30 July 2019 The leadership teams of the Santiago Exchange and the Luxembourg Stock Exchange (LuxSE) signed a Memorandum of Understanding (MoU) to facilitate cooperation in the field of cross listing and trading of financial securities in the two markets. The agreement defines green and social bonds as an area of priority, reflecting the efforts made by both exchanges to bring sustainable finance centre stage.
 

REGULATOR NEWS

U.K. proposes mandatory climate reporting for companies, asset owners 2 July 2019 The U.K. government proposed mandatory disclosure of climate-related risks for listed companies and large asset owners beginning in 2022, as part of its green finance strategy Materiality of ESG issues takes center stage at US congress 15 July 2019 Wednesday 10th July marked the first ever congressional hearing on environmental, social and governance (ESG) issues in the United States. ESMA urges ESG transparency 23 July 2019 The European Securities and Markets Authority (ESMA) chair Steven Maijoor said in a statement that market regulation needs to reflect the reality of climate change by integrating sustainability considerations. "As demand for sustainability assessments increases, so does the need for vigilance on the levels of investor protection," he said.

ESG INDICES AND PRODUCTS

FTSE Russell launches first climate risk government bond index 8 July 2019 FTSE Russell has launched the world’s first government bond index that adjusts weights based on each country’s resilience to climate change risk. Nasdaq Blog: Green voices of Nasdaq Nordic, how the Church of Sweden integrates sustainability into its investments 10 July 2019 In this series, called Green Voices of Nasdaq Nordic, Nasdaq is providing a platform that allows its green bond issuers and investors to share their stories. This story shines a light on the Church of Sweden and their commitment to invest sustainability. ESG ETFs are turning heads 13 July 2019 According to Morningstar data, U.S. funds that consider ESG factors attracted a net $8.4 billion in net inflows over the first half of the year. How 'Transition Bonds' can help polluters turn green 14 July 2019 Transition bonds is a new concept that’s gaining traction. Bloomberg discusses what this looks like and how it differs from green bonds. Demand for green bonds crimped by lack of supply 22 July 2019 Issuance of green bonds is much exceeded by demand for them. And investors' growing expectations over how issuers should invest the proceeds has discouraged some companies from issuing green bonds. Invesco unveils ESG ETF range in Switzerland 29 July 2019 Invesco has launched a range of ETFs based on the MSCI ESG Universal indices, incorporating environmental, social, and governance criteria in Switzerland.

MANAGEMENT NEWS

BNP Paribas appoints head of sustainable capital markets, global markets Asia-Pacific 16 July 2019 Chaoni Huang will manage BNP Paribas' sustainable finance solutions for corporates, financial institutions and investors in this newly-created role

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.