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March News Highlights

This month includes news from JPX, MOEX, NSE Kenya, CSE, ADX, Nasdaq, NYSE, EGX, LuxSE, Deutche Börse, SET NSE Nigeria 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

Exchange in Focus: Japan Exchange Group co-hosts TCFD Symposium

The Japan Exchange Group (JPX), an SSE initiative partner exchange since 2017, partnered with Japan’s Financial Services Agency (JFSA) to host a symposium on the Task Force on Climate-related Financial Disclosures (TCFD), entitled “The Power of the TCFD Framework in Company-Investor Dialogue”

Moscow Exchange joins United Nations Sustainable Stock Exchanges initiative to deepen ESG commitment

2 April 2019

“We’re delighted to join a global community of securities exchanges committed to creating more sustainable capital markets and a more sustainable world... I am confident our membership in the SSE initiative will open new opportunities to deepen our commitment to environmental, social and governance (ESG) practices both for MOEX and for the Russian market as a whole,” said Alexander Afanasiev, Chief Executive Officer of Moscow Exchange.

More than 80 stock exchanges ring the bell for gender equality

March 2019

To mark International Women’s Day on 8 March, more than 80 stock exchanges are participating in the international ‘Ring the Bell’ campaign to raise awareness about the business case for women’s economic empowerment and to highlight opportunities for business and financial markets to advance gender equality and sustainable development.

SSE, IFC, Kenya CMA and Nairobi Stock Exchange are building momentum for more sustainable capital markets- at home and abroad

4 March 2019

The Capital Market Authority in Kenya (CMA) and the Nairobi Securities Exchange (NSE) joined the IFC and UN Sustainable Stock Exchanges (SSE) initiative in engaging listed companies and issuers of securities in Kenya on the topic of improving ESG communication with investors. At the Workshop in Nairobi, the partners provided an overview on the strategic value and demand for better annual reporting and disclosure practices.

EVENT: UN SSE initiative 10 Year Anniversary Celebration

26 September 2019

In 10 years, the SSE has grown to 85 exchanges, listing 50,000 companies valued at 85 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.

CONSULTATIONS

PRI Reporting Framework consultation

Deadline: 30 April 2019

As part of PRI's Blueprint for responsible investment– looking at how to take responsible investment forward over the next decade – we committed to undertake a review of our current Reporting Framework. The aim of the review is to ensure that the PRI’s reporting and assessment is fit for purpose, remains relevant to evolving responsible investment practices and is useful for signatories and the responsible investment market as a whole.

STOCK EXCHANGE NEWS

CSE and GRI conduct programme to foster transparency and sustainability among listed companies

5 April 2019

The Colombo Stock Exchange (CSE) in collaboration with the Global Reporting Initiative (GRI) recently held a workshop on corporate transparency and sustainability reporting for the Listed companies. This was the third event held, with the intention to help participants discover the business case for embracing sustainable practices, while focusing on other topics such as monitoring and communicating sustainable performance effectively. Find out more from GRI here.

ADX stresses commitment to improving corporate governance framework

31 March 2019

On the sidelines of the Arab Capital Markets Conference in Amman, the Abu Dhabi Securities Exchange (ADX) acting Chief Executive Khalifa Salem Al Mansouri stressed ADX's commitment to improving corporate governance frameworks and enhancing disclosure and transparency to protect investor's rights.  "The exchange continues to strive to improve financial markets' performance to make them more sustainable and transparent, with a view of encouraging long-term sustainable investments and to promote institutional disclosure practices. The move is driven by ADX's entry into the United Nations Sustainable Stock Exchanges Initiative, which aims to ensure that financial markets are more sustainable and transparent and improve the performance of listed companies at both environmental and social levels."

Nasdaq named "Best Place to Work for LGBTQ Equality" by the Human Rights Campaign Foundation

28 March 2019

In recognition of its inclusive workplace, Nasdaq received a perfect score of 100 percent on the 2019 Corporate Equality Index (CEI), the nation’s leading benchmarking survey and report on corporate policies and practices related to LGBTQ workplace equality, administered by the Human Rights Campaign (HRC) Foundation.

Intercontinental Exchange Releases 2019 Corporate Responsibility Report

28 March 2019

Intercontinental Exchange (NYSE: ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, released its annual Corporate Responsibility Report. The report complements Intercontinental Exchange’s enhanced corporate citizenship website which provides timely information and resources that are meaningful to stakeholders as issues related to environmental, social and governance topics continue to evolve.

EGX highlights ESG as key macrotrend for 2019 in WFE Focus 

28 March 2019

In the March WFE Focus article, Mohamed Farid Saleh, Executive Chairman, The Egyptian Exchange (EGX) outlines the most important macro trends that will impact market infrastructure in 2019.

LuxSE launches a centralised bond information hub connecting with the interbank and stock exchange markets in China

28 March 2019

Initiated by the Luxembourg Stock Exchange (LuxSE), cooperation agreements on the following projects were signed: A data exchange agreement with the Shanghai Clearing House; A Green Bond Channel with the Shenzhen Stock Exchange (SZSE), complementary to the existing one with the Shanghai Stock Exchange (SSE); An extension of the Green Bond Channel with SSE by displaying international securities on the Shanghai platform; A partnership agreement with Bank of China (BOC) for cross-border markets connectivity.

Deutsche Börse shows commitment with its sustainable financing

26 March 2019

Deutsche Börse and its subsidiary for post-trading services, Clearstream Banking S.A., enhanced their credit line with a “positive incentive loan”. “The new ESG dimension which we added to the credit agreements reflects how comprehensively sustainability management is viewed within Deutsche Börse Group. This is an additional incentive to further integrate the own business activity in particular with corporate governance and ecological aspects,” said Kristina Jeromin, Head of Group Sustainability, Deutsche Börse and Co-Head of the Green and Sustainable Finance Cluster Germany.

SET Begins Annual Social Development Awards With Library Development

22 March 2019

The Stock Exchange of Thailand (SET) has carried on with its social development awards for 12 consecutive years to encourage organizations and individuals who dedicate their efforts to enhance the society in seven areas: music encouragement, sports promotion, urban development, rural development, preventing and solving drug problems in the community and society, library development and education development.

Nigerian exchange, GRI host sustainability reporting workshop

19 March 2019

The Nigerian Stock Exchange (NSE) in partnership with the Global Reporting Initiative (GRI), held a half-day workshop on sustainability reporting where the NSE Sustainability Disclosure Guidelines was unveiled, on Tuesday, March 19, 2019, at the Exchange House in Lagos. Read the welcome speech by NSE Divisional Head here.

NSE’s incubation scheme gains momentum with more admissions

18 March 2019

Dubbed ‘Ibuka’, which is a Swahili translation for ‘emerging’, the programme seeks to unlock the potential of small and medium sized companies at the Nairobi Stock Exchange (NSE). The programme intends to enhance the firms’ financial, technical, operational, commercial and strategic aspects of their businesses. It also enables companies to raise capital through debt and equity market as they track valuation as well as produce specialized documents such as capital raising and equity raising reports.

ASEAN Capital Markets Forum advances regional integration efforts through roadmap for sustainable capital markets

18 March 2019

The ASEAN Capital Markets Forum (ACMF) today met in Bangkok to endorse the Roadmap on ASEAN Sustainable Capital Markets to promote ASEAN asset classes for sustainable investment, in line with ASEAN’s theme on “Advancing Partnership for Sustainability”. The Roadmap will be proposed to the ASEAN Finance Ministers’ Meeting in Chiang Rai for acknowledgment in April 2019.

The WFE hosts Emerging Markets Forum for industry stakeholders

15 March 2019

The World Federation of Exchanges (“WFE”), the global industry group for exchanges and central counterparties (CCPs), hosted a one-day Emerging Markets (EM) Forum to explore the themes arising from two of its recent reports on the factors that attract international investors to emerging markets. Speakers at the forum included representatives from the UN Sustainable Stock Exchanges Initiative (SSE), the European Bank for Reconstruction and Development (EBRD), and Aviva, alongside many WFE.

Colombo Stock Exchange and IFC launch updated directory of women on boards of companies listed on the CSE

11 March 2019

The Women on Boards Directory of companies listed on the Colombo Stock Exchange (CSE) was first published in March 2018. The 2019 publication is an update to capture any changes that have taken place since last year so that the directory accurately reflects the experience and skills of the female directors of CSE listed companies. The goal is to have a repository of qualified women directors that inspires other women to advance and grow, and showcases the important role women on boards play in Sri Lanka in the different industry sectors.

Luxembourg Stock Exchange wins 2019 Green Bond Pioneer Award from CBI

3 March 2019

The Green Bond Pioneer Awards (GBPA) are the premier annual recognition of achievement by organisations, financial institutions, governments and individuals who have demonstrated leadership through pioneering initiatives and green issuance, and have provided positive examples of climate-resilient and low-carbon investments. The CBI, who grants the awards, is an investor-focused not-for-profit, promoting large-scale investment in the low-carbon economy. The awards’ jury is composed of a buy-side advisory committee.

REGULATOR NEWS

ESMA calls for wider EU scrutiny of non-financial reporting

28 March 2019

The European Securities and Markets Authority (ESMA) published its Annual Report on the enforcement and regulatory activities of accounting enforcers within the European Union (EU). “The disclosure of ESG information by issuers, along with high-quality financial reporting, is an important step in providing investors with a comprehensive understanding of a company’s performance and impact of its activities. To effectively support investment decision-making in the context of sustainable finance, it is essential that issuers scale up their efforts to provide high quality non-financial disclosures” said Steven Maijoor, Chair of ESMA.

Regulators to explore removing 'barriers' to addressing 'unprecedented' climate risk

13 March 2019

The Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) are set to begin cross-financial sector talks in the regulators' first significant step towards removing barriers to companies' attempts at mitigating climate-related financial risks.

ESG INDICES AND PRODUCTS

FMDQ Supports Climate Change Solutions and Sustainable Development, Admits the Pioneer Climate Bond Certified Green Bond to its Platform

1 April 2019

This issuance is the first corporate bond to benefit from the Nigerian Green Bond Market Development Programme launched in June 2018, by FMDQ, Climate Bonds Initiative (CBI), and the Financial Sector Deepening Africa (FSD Africa), to provide training/capacity development for regulators, issuers, investors and intermediaries, amongst others, as part of efforts to introduce green bonds as an investible instrument in the Nigerian DCM that can be tapped to close the huge infrastructure gap.

Moscow Exchange To Launch Sustainability Indices

1 April 2019

The new indices, the MOEX-RSPP Responsibility and Transparency Index and the MOEX-RSPP Sustainability Vector Index, will be based on RSPP’s annual analysis of Russia’s largest companies demonstrating a robust ESG (Environmental, Social, Governance) profile. The indices will include companies that disclose the most complete information about their activity in the fields of sustainability and corporate social responsibility.

Sri Lanka stock exchange to launch sustainability index

28 March 2019

The Colombo Stock Exchange (CSE) will be launching a new index for listed firms in Sri Lanka which have the best environment, social, and governance (ESG) sustainable disclosures, a top official said.

Contributing to the Sustainable Development Goals with ESG ETF

21 March 2019

In this live interview, Bloomberg's Eric Balchunas and Scarlet Fu break down the iShares Sustainable MSCI Global Impact ETF (ticker: SDG) with Francesco Ambrogetti, partnerships development specialist at the Capital Development Fund of the UN (UNCDF).

IIX’s Women’s Livelihood Bond™ Program (WLB2) gains support from Australian government; on track to launch Q2 2019

6 March 2019

IIX has announced partnering with the Australian Government’s Department of Foreign Affairs and Trade (DFAT) for the Women’s Livelihood BondTM Program (WLB2). The WLB2 is a US$100M bond series empowering one million underserved women in Asia with sustainable livelihoods. The WLB2 will be sold in three tranches.

MANAGEMENT NEWS

New Zealand's Financial Markets Authority Confirms New Appointments To Executive Committee

28 March 2019

Rob Everett, Chief Executive of the FMA, said he was delighted to announce that Louise Nicholson had joined the executive team as Director of External Communications and Investor Capability, and that Scott McMurray has been appointed as Director of Strategy and Stakeholder Relations.

Saudi Arabia Capital Market Authority Advisory Committee

27 March 2019

The Board of the Capital Market Authority (CMA) issued a resolution to recompose the Advisory Committee for its sixth term to comprise of 12 part-time members from market participants, experts, specialists and experienced college professors. The Committee's composition took into consideration a wider representation of market participants.

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