March News Highlights

4 April 2022

This month includes news from CSE, LuxSE, NYSE, NGX, SIX, 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  New SSE-IFC guidance report on How Exchanges Can Advance Gender Equality 08 March 2022 The UN SSE and IFC released new guidance on how exchanges can advance gender equality. This work was developed in strategic collaboration with UN Women and the SSE Gender Equality Advisory Group made up of experts around the world. UN SSE welcomes The Barbados Stock Exchange 21 March 2022 The UN Sustainable Stock Exchange initiative welcomes The Barbados Stock Exchange (BSE) as a new member. BSE has solidified its commitment to transparency and sustainability by becoming a partner exchange of the UN SSE initiative. UN SSE welcomes Muscat Stock Exchange as a Partner 31 March 2022 The UN Sustainable Stock Exchange initiative welcomes Muscat Stock Exchange (MSX) as a new member. The newest partner joins a network of now 113 stock exchanges around the world that are committed to promoting sustainable development. New SSE TV New Episodes Released! The SSE TV has released new episodes featuring Samuel Ho Hock Guan (CEO of Bursa Malaysia Derivatives Berhad), Luc Fortin (CEO & President, Montreal Exchange & Global Head of Trading at TMX Group), Hiromi Yamaji (President & CEO of Tokyo Stock Exchange & Representative Executive Officer, Group COO of Japan Exchange Group). SSE upcoming events: UN SSE, CDP & IFC To Provide Free Climate Disclosure Training To Exchanges And Their Issuers 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 CDP, have created are creating a multifaceted CPD accredited course for exchanges to distribute to their markets, free of charge. Information on past training sessions and upcoming sessions can be found on SSE’s Events page, Contact: if you would like to host a training session in your market (available for SSE Partner Exchanges). EXCHANGE NEWS JSE Amends Debt Listing Requirements To Introduce Transition Segment 08 March 2022 The Johannesburg Stock Exchange (JSE) announced that it has amended its debt listing requirements, which will result in the introduction of a new segment, known as the Transition Segment and expansion of the current Sustainability Segment. NYSE Announces Launch of the NYSE Sustainability Advisory Council 09 March 2022 The New York Stock Exchange (NYSE) announced the launch of the NYSE Sustainability Advisory Council. The council will bring together select sustainability leaders within the community of more than 2,400 listed companies to identify and share global best practices addressing environmental, social and governance (ESG) issues. SZSE Launches a New Innovative Variety Of Green Bonds 09 March 2022 Shenzhen Stock Exchange’s first green bonds aimed to serve the development of the marine economy were recently successfully issued. In recent years, adhering to the green, sustainable development philosophy, SZSE has given full play to the functions of the bond market to provide direct financing support to the development of green industries. CSE & GRI to support Companies to Start Sustainability Reporting 11 March 2022 The Colombo Stock Exchange (CSE) and Global Reporting Initiative (GRI), through multiple engagement initiatives, have facilitated Sri Lankan Listed Companies to discover the business case and importance of embracing sustainability reporting. The collaboration offered the CSE an opportunity to deliver internationally renowned ESG reporting expertise and know-how to Sri Lanka. NGX, IFC Give Step-by-Step Process for Green Bonds Issuance 17 March 2022 The Nigerian Stock Exchange (NGX) is making efforts to attract more investments to the green bonds ecosystem. On March 10th 2022, the NGX partnered with the IFC to offer training for issuers and market operators on the issuance of sustainable financial instruments. SIX Now Providing EU Taxonomy and Other ESG Data from Sustainalytics 22 March 2022 SIX (the Swiss Exchange) has announced that Sustainalytics’ ESG data is now available for the broad customer base of SIX for them to comply with new EU sustainability regulations. Sustainalytics is the first third-party specialist ESG data provider that SIX has onboarded to its distribution channels. LuxSE and RSE take First Important Steps Together, sign MOU 23 March 2022 The Luxembourg Stock Exchange (LuxSE) and Rwanda Stock Exchange (RSE) took their first important steps together by signing a Memorandum of Understanding (MoU) between the two institutions to establish a long-term cooperation between the two exchanges and contribute to building bridges between the financial services industries in Luxembourg and Rwanda, with a specific focus on the development of sustainable finance in the African country. ASEAN Exchanges publishes Table Comparing Sustainability Reporting Regimes 29 March 2022 ASEAN Exchanges, a collaboration of 7 exchanges across 6 countries in the region, has published a table comparing the respective exchanges' sustainability reporting regimes. It was put together with the aim of coming up with a recommended set of environmental, social and governance (ESG) metrics for disclosure by listed companies in the region, to address existing challenges around the availability of consistent and comparable ESG data. TASE Publishes Its First ESG Report 30 March 2022 The Tel Aviv Stock Exchange (TASE) is publishing its first ESG report that summarizes its activity in 2021, which significantly focused on its ESG goals and commitments. REGULATOR AND STANDARD SETTER NEWS CMB Takes Another Step Towards Sustainability in Turkey 04 March 2022 Following the public opinion process, the Capital Markets Board (CMB) accepted and published Sustainability Principles Compliance Framework. The CMB is taking a stronger step to regulate the principles for the issuance of green debt instruments and green lease certificates, aiming to encourage the use of internationally accepted standards for green debt issuances in Turkey. India Plans $3.3 Billion Sovereign Green Bond Issuance 15 March 2022 India will issue at least 240 billion rupees ($3.3 billion) in sovereign green bonds as the country marks a shift towards a low-carbon economy. The debut sale may take place in the first half of the fiscal year that starts on April 1st 2022. Japanese Translation of the SASB Standards Now Available 15 March 2022 The Value Reporting Foundation announced that Japanese translations are now available for the SASB Standards, which are available for 77 industries. The Japanese translations follow the French, German and Spanish translations. IFRS Foundation and GRI to align Capital Market And Multi-Stakeholder Standards 24 March 2022 The IFRS Foundation and Global Reporting Initiative (GRI) have announced a collaboration agreement under which their respective standard-setting boards, the International Sustainability Standards Board (ISSB) and the Global Sustainability Standards Board (GSSB), will seek to coordinate their work programmes and standard-setting activities. Pakistan SBP governor Unveils A Special Report About Progress On SDGs 26 March 2022 Governor State Bank of Pakistan, Dr. Reza Baqir unveiled a report titled ‘SDGs and sustainability report – Pakistan banking sector perspective’. This is the first-ever report from the banking perspective that not only maps progress on Sustainable Development Goals (SDGs) 2030 by banks but also highlights specific gaps for achieving them. Philippines BSP invests $550M in Green Bonds 26 March 2022 The Central Bank of the Philippines (BSP) revealed it has already invested more than $550 million in green bonds and will continue to do so in the future. BSP's participation strengthens its active involvement with its financial market partners in fighting climate-related risks. Kuwait NBK launches Sustainable Financing Framework 28 March 2022 National Bank of Kuwait (NBK) launched its Sustainable Financing Framework as it continues to build a market-leading position in sustainable development, enabling and promoting responsible business practices to help steer the economy towards long-term value creation. EU advisers propose Expansion Of Sustainable Finance Rules 28 March 2022 European Commission advisers proposed an expansion of sustainable finance rules to better grade activities such as gas-fired power plants. The advisers proposed expanding the scope of the taxonomy using a traffic light system to include an intermediate category. Egypt's FRA sets Deadline For Companies to Report ESG Compliance Reports 29 March 2022 The Financial Regulatory Authority (FRA) of Egypt has issued a circulation mandating companies operating in the non-banking financial sector to provide Environmental, Social, and Governance (ESG) and Task Force on Climate-related Financial Disclosures (TCFD) quarterly compliance reports before April 10th 2022. IFRS Foundation’s ISSB Issues Two New Exposure Drafts on Climate and ESG Disclosure; Builds on Sasb’s Industry-Based Standards 31 March 2022 The IFRS Foundation’s International Sustainability Standards Board (ISSB) has delivered proposals that will create a comprehensive global baseline of sustainability standards for the capital markets, as it launches the consultation process on the ISSB’s first two proposed standards: General sustainability-related disclosure requirements, and climate-related disclosure requirements. US SEC unveils Landmark Climate Change Risk Disclosure Rule 31 March 2022 The U.S. Securities and Exchange Commission (SEC) unveiled a landmark proposal requiring U.S.-listed companies to disclose their climate change-related risks and greenhouse gas emissions, to address financial risks created by global rising temperatures. ESG INDICES AND PRODUCTS Canada's Green Bond Debut Sees $12.3 Billion in Demand 22 March 2022 Canada racked up over $12.3 billion in orders for its first green bond sale. The country gathered orders for more than double the size of its inaugural green bond, allowing it to cut the yield initially offered to investors. China's First Exchange-Traded Fund For Carbon Credit Futures Debuts on HKEX 23 March 2022 The first carbon credit exchange-traded fund (ETF) in China, debuts on Hong Kong Stock Exchange. The ETF invests in the futures contracts of carbon emission permits traded in the European Union. Mumbai to host India ESG Summit 2022 in June 23 March 2022 Environmental, Social, and Governance (ESG) Summit for Indian business in Mumbai, India’s financial capital, will take place on June 10, 2022. Corporate leaders, decision makers, and investors, will come together to discuss ESG and the sustainability ambition and strategy of corporations at the India ESG Summit 2022. Bahrain company lists $900 million Green Sukuk on LSE 28 March 2022 In the amount of $900 million, the first-ever green sukuk issued by a Bahraini entity has been listed on the London Stock Exchange (LSE). AIB raises €1 billion in the First Social Bond Issuance by an Irish bank 30 March 2022 Allied Irish Banks (AIB) raised €1 billion in the first social bond issuance by an Irish bank. The proceeds will contribute to the financing of projects with clear social benefits and further strengthen AIB's funding position. GENDER EQUALITY Bangladesh tops South Asia region in Women's Presence In Listed Companies' Boards 15 March 2022 Bangladesh tops the South Asia region, in terms of the number of women on the boards of listed companies, according to new research by International Finance Corporation (IFC) and Dhaka Stock Exchange (DSE). The figures showed an increase in the percentage of women who are independent directors in listed companies. IFC, Nepal Stock Exchange continue tie-up to Promote Gender Equality 23 March 2022 For the second consecutive year, the Nepal Stock Exchange (NEPSE) rang the bell for gender equality, an annual global event that highlights how the private sector can spur women’s participation in the global economy and promote sustainable development. 12 Stock Exchanges in the Arab States rang the Bell on International Women's Day 2022 29 March 2022 This year on International Women’s Day, 12 stock exchanges across countries in the Arab States region rang the bell for gender equality for the eighth year in a row, under the theme “Gender Equality today for a Sustainable Tomorrow”. The ceremonies are hosted within the framework of a partnership between UN Women, UN Global Compact, the UN Sustainable Stock Exchanges Initiative (SSE), the International Finance Corporation (IFC), and the World Federation of Exchanges (WFE).  

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.