This month includes news from JSE, SET, TISE, TMX 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
UN SSE welcomes The International Stock Exchange (TISE)5 July 2021
The International Stock Exchange (TISE) has solidified its commitment to transparency and sustainability by becoming a member of the UN Sustainable Stock Exchanges initiative. The SSE’s newest member joins a network of 104 stock exchanges around the world that are committed to promoting sustainable development.
UN SSE launches its new SSE TV channel1 July 2021
The UN SSE has released its new SSE TV channel. The channel, powered by Fintech.TV, is a new global platform for exchange CEOs, Board members, security market regulators, and thought leaders of the market infrastructure ecosystem to share their sustainability experience with the broader financial market and policymaker community. The objective of SSE TV is to facilitate a global dialogue on sustainable finance, peer-to-peer learning, and the sharing of best practices.
UN SSE Q2 2021 Quarterly Webinar: Consultative Group Webinar10 June 2021
The UN SSE Consultative Group Quarterly Calls allow Partner Exchanges, regulators, investors, issuers and other key market stakeholders to share their experiences, hear from guest experts and contribute to the SSE’s work plan. The Q2 2021 webinar featured the launch of a new free training program on climate disclosure, designed by the UN SSE, IFC and CDSB.
UN SSE, CDSB & IFC to provide free climate disclosure training to exchanges and their issuers10 June 2021
In order to provide markets with high-quality training on climate disclosure and provide an overview of the Task Force on Climate-related Financial Disclosures (TCFD) recommendations, the UN SSE together with IFC and CDSB, are creating a multifaceted course for exchanges to distribute to their markets, free of charge.
UN SSE: ICGN Governance of Sustainability Dialogue23 June 2021
The UN SSE initiative is proud to announce the Governance of Sustainability Dialogue, in partnership with ICGN and hosted by UNCTAD World Investment Forum. We were delighted to assemble these influential thought leaders for two days of discussion and debate focused on global sustainability issues and risk management to develop long-term strategies, reporting and cooperation.
New SSE Publication:Mark Carney and CEOs of LSEG and JSE launch new SSE climate reports29 June 2021
The UN SSE initiative launched the new “Model Guidance on Climate Disclosure” for exchanges to assist their issuers to implement the recommendations of the Task Force on Climate-related Financial Disclosure (TCFD). The Model Guidance is the result of a year-long development process created under the auspices of the UN Special Envoy for Finance and Climate Action and led by the CEOs of the London Stock Exchange Group and the Johannesburg Stock Exchange. Watch the event recording. More information about the report here.
Taking stock of investor implementation of the UN Guiding Principles on Business and Human Rights17 June 2021
June 2021 marks the tenth anniversary of the endorsement by the Human Rights Council of United Nations Guiding Principles on Business and Human Rights (UNGPs). To mark the occasion, the report "Taking stock of investor implementation of the UN Guiding Principles on Business and Human Rights." This report is part of UNGPs 10+ Project, launched in July 2020 by the Working Group on business and transnational corporations and other business enterprises to take stock of implementation of the UNGPs to date and chart a course for increased action by States and businesses in the next decade.
STOCK EXCHANGE NEWS
TMX Group Expands Its Resources on ESG Reporting08 June 2021
Last year, TMX introduced several new initiatives to assist issuers with understanding and preparing disclosure of ESG information. These included their ESG 101 education hub, the release of a new Primer for Environmental and Social Disclosure, and the addition of a new ESG Disclosure module to their Growth Accelerator education program.
The Stock Exchange of Thailand: Sustainable investing going mainstream25 June 2021
During the past decade, Thailand’s securities authorities have worked hard in promoting ESG. The Stock Exchange of Thailand (SET) launched Thailand Sustainability Investment (THSI) in 2015 as the list of listed companies passing ESG criteria. Among the criteria are actions launched to address climate change, energy and water conservation, human rights protection, workplace safety, supply chain management, board independence, executive compensation, anti-corruption, ESG risk management and innovation.
The Johannesburg Stock Exchange (JSE) approves listing of SA Taxi Holdings’ social bonds worth R900 million29 June 2021
The JSE has announced that it has approved the listing of six SA Taxi Holdings’ social bonds on the bourse’s Sustainability Segment. The six social bonds valued at a total of R900 million will have a maturity of between one and 10 years.
Eurex introduces futures on ESG Fixed Income Indexes in cooperation with Bloomberg29 June 2021
Eurex has announced that on 27 September it will launch futures on the Bloomberg Barclays MSCI Global Green Bond and Euro Corporate SRI indexes. This launch further underlines Eurex’s position as the global venue for EUR fixed income derivatives and its pioneering stance in the growing ESG segment.
The Philippine Stock Exchange (PSE) to launch 3 new indices to cater to diversified tastes04 July 2021
The PSE is set to introduce three new stock indices to attract investors who favor specific investment themes like high-dividend yields, promising mid-cap stocks and environmental, social and governance (ESG) compliance.
The International Stock Exchange (TISE) has launched a new sustainability market segment05 July 2021
With sustainable finance gathering momentum, TISE is seeking to play a greater role in facilitating the financing of a sustainable future. TISE has established the new segment as a comprehensive and reputable enabler for increased capital allocation towards environmental, social or sustainable activities, while committing to promoting sustainability performance and transparency in the capital markets as part of becoming a Partner Exchange of the UN SSE.
REGULATOR AND STANDARD SETTER NEWS
World Bank: Carbon Pricing Assessment and Decision-Making - A Guide to Adopting a Carbon Price04 June 2021
Many countries and subnational jurisdictions are considering putting a price on carbon to help reduce greenhouse gas (GHG) emissions and achieve their climate commitments. There are currently 64 carbon pricing instruments (CPIs) in place or in the process of implementation. The objective of this guide is to help policymakers build the case for carbon pricing and choose an appropriate CPI.
Nigerian SEC Proposes New Rule On Social Bonds07 June 2021
The Securities and Exchange Commission of Nigeria has proposed a new rule on “Social Bond”. The SEC new rule on Social Bond focuses on eligible projects, conditions for approval, utilization and management of proceeds, reporting, refinancing and external review.
Eurosif expects new EU sustainable finance strategy at the start of July08 June 2021
The European Sustainable Investment Forum (Eurosif), is expecting the European Commission’s renewed sustainable finance strategy to be launched in July, said Victor van Hoorn, Eurosif’s director, during a Swiss Sustainable Finance (SSF) market study virtual presentation.
The International Integrated Reporting Council (IIRC) and the Sustainability Accounting Standards Board (SASB) have officially announced their merger to form the Value Reporting Foundation.
LME's CEO comments on SSE-WFE report on derivatives exchanges10 June 2021
Last month, the SSE initiative and the World Federation of Exchanges published a report into work by derivatives exchanges to support sustainable development, and laid out a roadmap for future initiatives in this field. In an environment where market actors and consumers now expect certain standards of responsible behaviour as a minimum, reports such as that by the SSE and WFE help cement the role that exchanges can play.
Value Reporting Foundation responds to US SEC consultation on climate-related disclosure15 June 2021
Janine Guillot, CEO, Value Reporting Foundation has written to the US Securities and Exchange Commission outlining the Foundation’s ongoing support for efforts to build alignment in the reporting landscape, with the merger of the IIRC and SASB a significant step towards simplification.
IOSCO and IFRS Foundation’s work towards a global baseline of sustainability standards28 June 2021
The International Organization of Securities Commissions (IOSCO) elaborates on its vision and expectations for the International Financial Reporting Standards Foundation’s work towards a global baseline of investor-focussed sustainability standards to improve the global consistency, comparability and reliability of sustainability reporting.
IOSCO consults on sustainability-related regulatory and supervisory expectations in asset management30 June 2021
The Board of the International Organization of Securities Commissions (IOSCO) is requesting feedback on proposed recommendations about sustainability-related regulatory and supervisory expectations in asset management.
ESG INDICES AND PRODUCTS
Four metrics for tracking the near-term value of ESG strategies07 June 2021
The right metrics can accurately gauge the impact of ESG strategies and progress toward goals, writes Penney Frohling, EY-Parthenon partner and EMEIA financial services strategy leader.
FTSE Russell to receive the 2021 Climate Index Provider of the Year award from Environmental Finance28 June 2021
In early 2020 FTSE Russell, along with the Church of England Pensions Board (CEPB) and Transition Pathway Initiative (TPI), launched the FTSE TPI Climate Transition Index. The index incorporates the objectives of the Paris Agreement and offers investors the chance to align their broad equity portfolios with companies based on their forward-looking commitments to a carbon emission pathway in keeping with a less than 2°C increase in average global temperatures.
New ESG bond index will make green finance transparent31 May 2021
Global launch of a new environmental, social and governance－ESG－bond index simultaneously in Beijing and Luxembourg will increase transparency in the domestic green bond market and improve the level of internationalization of the market.
TCFD Scope 3 Review Supports Net-Zero Scrutiny18 June 2021
Asset owners will be in a stronger position to assess the credibility of corporates’ net-zero pathways following a consultation by the Task Force on Climate-related Financial Disclosures (TCFD) to improve Scope 3 greenhouse gas (GHG) emissions disclosures, according to Bastian Buck, Chief Standards Officer for the Global Reporting Initiative (GRI).
MANAGEMENT NEWS
Euronext appoints group ESG head21 June 2021
Sara Lovisolo has become Head of Group ESG at Euronext. Lovisolo, who was Group Sustainability Manager at the London Stock Exchange Group for 10 years, was previously Group Sustainability Manager at Borsa Italiana. She was a member of the EU’s Technical Expert Group on Sustainability.
