This month includes news from the Amman Stock Exchange, BIVA, B3 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
AFCM encourages its member exchanges to join the Net Zero Exchange Group
1 March 2024
Haitham Al Salmi, CEO of the Muscat Stock Exchange and Chairman of AFCM Board of Directors, said “We launch today an Arab initiative to urge the Arab stock exchanges to join the United Nations Sustainable Stock Exchanges (UN SSE) initiative in signing the Net Zero Pledge and joining the Net Zero Exchange Group.
Over 100 exchanges Ring the Bell for Gender Equality in 2024
6 March 2024
The Ring the Bell for Gender Equality annual event series was launched by the UN SSE, UN Global Compact and UN Women in 2015, with just 7 participating exchanges. Today it is coordinated by UN SSE, IFC, UN Global Compact, UN Women and The World Federation of Exchanges and involves exchanges from around the world.
UN SSE and NASDAQ empower graphic design students and promote gender equality
8 March 2024
The United Nations Sustainable Stock Exchanges (UN SSE) initiative joined forces with Nasdaq for an annual collaboration raising awareness about improving gender equality. The collaboration, which results in a gender-equality themed animation projected on the NADSAQ tower in Time Square, has an added benefit of empowering young graphic design students to think big.
UN SSE Q1 Webinar: SSE Updates: Active Membership and SSE Academy Offerings
20 March 2024
This quarter’s webinar featured an update on the SSE Academy’s 2024 program of free training. Having now trained over 3,000 market participants on the IFRS Sustainability Disclosure Standards and Gender Equality in Capital Markets, we shared with you what we’ve learned from these interactive training workshops.
UN SSE Welcomes the 2024 Official Supporters
25 March 2024
This year, the United Nations Stock Exchanges initiative welcomes 30 Official Supporters. The group includes 22 exchanges and 8 other market participants: ABN AMRO Clearing, Australian Securities Exchange, AVIVA, Bloomberg, Bolsa Nacional de Valores, Boursa Kuwait, Bombay Stock Exchange, Bulgarian Stock Exchange, Bursa Malaysia, Cboe, CME Group, Dhaka Stock Exchange, Domini, The Egyptian Exchange, Euroclear, Euronext, Greenomy, Ghana Stock Exchange, Hong Kong Exchanges and Clearing Limited, Intercontinental Exchange / New York Stock Exchange, Johannesburg Stock Exchange, Korea Exchange, Latinex, London Stock Exchange Group, Luxembourg Stock Exchange, Muscat Stock Exchange, Nasdaq, RepRisk, Saudi Exchange, Singapore Exchange Group.
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
https://sseinitiative.org/sse-academy
Philippines: PSE Training on Gender Equality and Capital Markets
4 March 2024
The SSE Academy and its partners facilitated the workshop on Gender Equality and Capital Markets hosted by The Philippine Stock Exchange, Inc. (PSE) for all capital market participants in the Philippines. The training workshop was attended by 175 participants.
5 March 2024
The London Stock Exchange hosted training on the IFRS Sustainability Disclosure Standards (often referred to as the ‘ISSB Standards’) for the UK market.
In her opening comments, Claire Dorrian, Head of Sustainable Finance at LSEG (London Stock Exchange Group) indicated that the exchange aims to lead by example, not only helping the market upskill on these topics but also implementing these skills within the exchange. The training workshop was attended by 224 participants.
Jordan: ASE training on Gender Equality and Capital Markets
11 March 2024
The SSE Academy and its partners facilitated the workshop on Gender Equality and Capital Markets hosted by the Amman Stock Exchange (ASE) for all capital market participants in Jordan. The training workshop was attended by 175 participants.
Mexico: BIVA Training on IFRS Sustainability Disclosure Standards
19 March 2024
The Mexican exchange BIVA hosted training on the IFRS Sustainability Disclosure Standards (often referred to as the ‘ISSB Standards’) for listed companies and market participants in Mexico.
In her opening comments, Maria Ariza, CEO of BIVA said “we as market leaders are responsible to drive this change and lead by example.” The exchange is utilizing the collaboration between the UN SSE and BIVA to support their market in adapting to changing disclosure expectations.
Brazil: B3 Workshop on IFRS Sustainability Disclosure Standards
26 March 2024
The Brazilian exchange B3 hosted training on the IFRS Sustainability Disclosure Standards (often referred to as the ‘ISSB Standards’) for listed companies and market participants in Brazil. The training workshop was attended by 238 participants.
EXCHANGE NEWS
HKEx Moves Forward With Diversity, Climate and Sustainability Initiatives
2 March 224
In recent years, investors and other members of the public have been focused on environmental, social and governance (ESG) issues, and financial regulators globally having been taking initiatives to require companies to meet these expectations.
Hong Kong Exchanges and Clearing (HKEx) is no exception, with a number of regulatory developments in this area intended to maintain Hong Kong’s leadership position as a global financial center.
Four Stock Exchanges Collaborate to Develop the ASEAN-Interconnected Sustainability Ecosystem
6 March 2024
On February 15, 2024, Bursa Malaysia Berhad (Bursa Malaysia), Indonesia Stock Exchange (IDX), The Stock Exchange of Thailand (SET), and Singapore Exchange (SGX Group) released a joint statement announcing their collaboration on the development of the ASEAN-Interconnected Sustainability Ecosystem (ASEAN-ISE).
S&P Global Ratings to Evaluate Kyrgyz Stock Exchange for Green, Social Bond Issuances
8 March 2024
The Kyrgyz Stock Exchange (KYSE) in Bishkek has expanded its list of verifiers to include S&P Global Ratings, who will conduct an independent assessment of sustainable finance instruments. The audit is centered on the evaluation of bonds aimed at green, social and sustainability (GSS) initiatives, according to a report on the KYSE website.
7 March 2024
The ASEAN Exchanges, led by Bursa Malaysia and its broker partner, Macquarie Capital, today hosted the Invest ASEAN Conference 2024 in Melbourne, Australia, to promote ASEAN capital markets as a compelling investment destination. Entitled ‘Gateway to ASEAN Investment: Empowering Opportunities for Sustainable Growth’, the event provided institutional investors based in Australia with an opportunity to better understand ASEAN’s economic and market prospects.
Japan: NZDPU And JPX To Hold Joint Roundtable Series On Climate-Related Data
15 March 2024
In December 2023, the Net-Zero Data Public Utility (NZDPU) launched its Proof of Concept for the development of a centralized, global, open climate data repository as recommended by the Climate Data Steering Committee. In order to understand the needs and challenges of Japanese financial institutions and issuers in this space, Japan Exchange Group, Inc. (JPX) and the NZDPU are hosting a series of roundtable discussions beginning today, March 15th, and continuing through to fall.
21 March 2024
The Annual Report and AGM Notice are available on the Company's website at https://www.lseg.com/investor-relations. . In addition, LSEG has also published the following documents on its website athttps://www.lseg.com/en/sustainability-strategy : Sustainability Report 2023; Sustainability Databook 2023; Sustainability Reporting Frameworks 2023; and Modern Slavery and Human Trafficking Act Statement 2023.
REGULATORS AND STANDARD SETTER NEWS
Japan eyes rules for firms to disclose greenhouse gas emissions data
3 March 2024
Japan's financial watchdog is considering obliging companies listed on the top-tier section of the Tokyo Stock Exchange to disclose information on greenhouse gas emissions throughout their supply chains.
A new era in Sustainability Reporting in Türkiye
4 March 2024
Türkiye has recently taken a major step towards mandatory corporate sustainability reporting. The Turkish Sustainability Reporting Standards (“TSRS”)
were published in the official gazette on 29 December 2023
by the Public Oversight, Accounting and Auditing Standards Authority (“Authority”) (Kamu Gözetimi, Muhasebe ve Denetleme Standartları Kurumu). Sustainability reporting became mandatory for companies and financial institutions exceeding the thresholds set in the TSRS as of 1 January 2024.
4 March 2024
During last week’s meeting of the IFRS Foundation Monitoring Board in Madrid, Spain, the Monitoring Board discussed the activities of the Trustees of the IFRS Foundation, including their oversight responsibilities of the International Accounting Standards Board (IASB) and the International Sustainability Standards Board (ISSB). The meeting was joined by the members of the Trustees of the IFRS Foundation under the leadership of Erkki Liikanen, Chair of the Trustees, and also Andreas Barckow, Chair of the IASB, and Emmanuel Faber, Chair of the ISSB.
Colombia Unveils New Taxonomy Guidelines To Accelerate Green Finance
5 March 2024
In April 2022, the Colombian Government launched the first Taxonomy in Latin America and the Caribbean (LAC) with the aim of supporting the mobilization of capital for sustainability objectives. This milestone not only marks the region's first-ever taxonomy but also positions Colombia as a trailblazer, with a high level of interoperability with the EU Taxonomy. Aligning with international standards and in line with the Paris Agreement's 1.5°C trajectory, it responds to the Nationally Determined Contributions (NDCs) acquired on the Paris Agreement.
6 March 2024
Today, the Commission is considering whether to adopt final rules to mandate climate risk disclosures by public companies and in public offerings. I am pleased to support this adoption because it benefits investors and issuers alike. It would provide investors with consistent, comparable, decision-useful information, and issuers with clear reporting requirements.
Singapore: SGX RegCo Details How Sustainability Reports Should Incorporate ISSB Standards
7 March 2024
Singapore Exchange Regulation (SGX RegCo) is consulting the market on details of how the International Sustainability Standards Board (ISSB) standards are to be incorporated into its sustainability reporting rules for climate-related disclosures, in line with the Sustainability Reporting Advisory Committee’s recommendations announced on 28 February 2024.
US SEC approves climate-related disclosure rules
7 March 2024
The United States Securities and Exchanges Commission adopted new rules requiring the companies it regulates to disclose climate-related information in their registration statements and annual reports.
8 March 2024
There is a lot of work left to do before the financial market fully contributes to a sustainable economy. For example, firms need to be better at identifying and integrating sustainability risks. One condition for this is that they have the right competence in sustainability-related matters. Firms also are responsible for preventing their operations from being used for criminal purposes. These are several of the conclusions we draw in our sustainability report that is being published today.
Securities Commission Malaysia Seeks Feedback On Draft Of Governance Code For MSMEs
11 March 2024
The SME Governance Working Group1, chaired by the Securities Commission Malaysia (SC), today issued the draft Governance Code for Malaysian MSMEs for public consultation. The development of the Code is aligned with the 12th Malaysia Plan and the National Entrepreneurship Policy 2030, which aims to improve transparency and integrity, and ensure a competitive business environment.
11 March 2024
DNV received accreditation for Entity Certification, facilitating verification services for corporations aiming to achieve Certified Green Entity status or certification for their general-purpose debt under the Climate Bonds standard. After working with the Climate Bond Initiative (Climate Bonds) for almost a decade and being the first of three verifiers to become approved back in 2015, DNV has achieved accreditation extension for the Climate Bonds’ new scopes "Sustainability linked bond" and "Entity".
UAE Securities And Commodities Authority: Global Investors See Compelling Case For GCC Investment
12 March 2024
Investors from around the world see reforms across the Middle East and the strong development of regional capital markets have made a compelling case for investment here, according to Nabeel Albloushi, HSBC’s Regional Head of Markets & Securities Services for the Middle East North Africa & Türkiye (MENAT) region.
13 March 2024
The Canadian Securities Administrators (CSA) today welcome the launch of the Canadian Sustainability Standards Board’s (CSSB) consultation on Canadian Sustainability Disclosure Standards 1 and 2. “We are pleased to see publication of the CSSB’s consultation on its first set of standards,” said Stan Magidson, CSA Chair and Chair and CEO of the Alberta Securities Commission.
Australia: ASIC - Climate Reporting And Greenwashing: What Small Businesses Need To Know
19 March 2024
Mandatory climate reporting – The government is proposing to introduce mandatory climate-related disclosure laws for large businesses and financial institutions. These laws would require large businesses to disclose information each year about their climate-related financial risks, opportunities, plans and strategies.
ESMA Consults On Rules For External Reviewers Of EU Green Bonds
26 March 2024
The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, launched a consultation on Draft Regulatory Technical Standards (RTS) related to the registration and supervision of external reviewers under the EU Green Bond Regulation (EuGB).
ESG INDICES AND PRODUCTS
Spain: BME Admits A 750 Million Euro Issue Of Andalusian Sustainable Bonds To Trading
20 March 2024
BME's fixed income market, AIAF, today admitted to trading a EUR 750 million issue of sustainable bonds by the Andalusian regional government at a nominal interest rate of 3.4%. The issue, with a ten-year maturity, is the fifth of its kind by this issuer, for a total amount of 3.35 billion euros.
GENDER EQUALITY
Luxembourg Stock Exchange: Pro Mujer: Transforming Women’s Lives in LatAm
18 March 2024
During our annual
celebrations on 8 March 2024, we had the pleasure of welcoming representatives from Latin America -based nonprofit organisation Pro Mujer to the Luxembourg Stock Exchange (LuxSE) to celebrate the listing of its trailblazing gender bond at our exchange.
EXECUTIVE MOVES
NZX Congratulates Sarah Minhinnick On New Zealand Green Investment Finance Appointment
5 March 2024
NZX welcomed the announcement today that Sarah Minhinnick has been appointed the new Chief Executive of New Zealand Green Investment Finance. “This is fantastic news for Sarah and an acknowledgment of her impressive skills, values and leadership ability. With a focus on investment, financial markets and sustainability, this role perfectly combines Sarah’s expertise and passions. We wish her all the best in the new role and know she will make a positive difference,” NZX Chief Executive Mark Peterson says.
