March News Highlights

March News Highlights

3 April 2023

This month includes news from Bursa Malaysia, Dubai Financial Market, Euronext, ICE, NGX 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  Global free training on TCFD-aligned disclosures: the foundation for upcoming ISSB standards 3 March 2023 The recordings of the TCFD sessions are available here. 2023 Ring the Bell for Gender Equality 8 March 2023 In celebration of International Women’s Day (8 March 2023), the Sustainable Stock Exchanges initiative is pleased to announce the continuation of stock exchanges around the world hosting a bell-ringing ceremony to raise awareness for gender equality. Over 100 exchanges ‘Ring the Bell for Gender Equality 2023’ 8 March 2023 A record of over 116 exchanges around the world will this year support the eighth annual “Ring the Bell for Gender Equality” campaign, to raise awareness about the role and opportunities for the private sector to advance gender equality and sustainable development. UN SSE joins with Latinex to ‘Ring the Bell for Gender Equality’ 9 March 2023 The UN SSE initiative presented its recent report on gender equality on the corporate boards in Latin America as part of the Panamanian exchange Latinex’ annual event to celebrate International Women's Day (IWD).  UN SSE Q1 Webinar – SSE “Active Members” & new SSE Academy offerings 22 March 2023 This quarter’s webinar focuses on a range of exciting updates from the SSE: new “active member” recognition and new SSE Academy courses (at no cost to our members!).  UN SSE, IFC, UN Women launch training on gender equality 29 March 2023 (22 March 2023) The United Nations SSE initiative and IFC, in strategic collaboration with UN Women, announced a new joint training program that will provide capital market participants with capacity-building resources on gender equality.  EXCHANGE NEWS PNG stock exchange consults on ESG code 6 March 2023 PNGX, Papua New Guinea’s national stock exchange, has today released a proposed new Corporate Governance Code for Listed Issuers for public consultation, including a recommendation on tackling gender-based violence. ICE To Host Carbon Credit Auctions For UpEnergy 9 March 2023 Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of data, technology, and market infrastructure, today announced that it plans to auction carbon credits based on UpEnergy’s Improved Cookstove Programme in Uganda. Prague Stock Exchange launches sustainability reporting guidelines 9 March 2023 The PSE launches its first Environmental, Social and Governance reporting guidelines (ESG) for Czech companies, developed with the technical assistance of the European Bank for Reconstruction and Development (EBRD) and technical cooperation support from the TaiwanBusiness – EBRD Technical Cooperation Fund. ​​DIFC-Chaired Dubai Sustainable Finance Working Group Defines UAE Industry Approaches To Delivering ESG Innovation, Net Zero and Sustainability-Linked Lending  14 March 2023 The Dubai Sustainable Finance Working Group (DSFWG), established in 2019 by Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa and South Asia (MEASA) region, and Dubai Financial Market (DFM), the leading financial market across the region, has published three new reports that aim to help businesses in the UAE build resilience to the impact of climate change and move the economy to Net Zero.   SET Launches “ESG Impact Assessment Report: THSI 2022” For Positive Impacts Of All Sectors 15 March 2023 The Stock Exchange of Thailand (SET) has released the “ESG Impact Assessment Report: THSI 2022” summarized the environmental, social and governance (ESG) performances of listed companies in the Thailand Sustainability Investment (THSI) list that have built positive impacts on both internal and external stakeholders.  Euronext joins the CAC SBT 1.5° Index 20 March 2023 Euronext, the leading pan-European market infrastructure, is proud to announce today its inclusion into the CAC SBT 1.5° Index following the quarterly review of the index. Bursa Malaysia Commences Centralised Sustainability Platform 22 March 2023 Following the announcement by YAB Prime Minister at Invest Malaysia Kuala Lumpur 2023, Bursa Malaysia Berhad (“Bursa Malaysia” or the “Exchange”) today signed a Memorandum of Collaboration (“MOC”) with UMW Corporation Sdn Bhd (“UMW”) and Malayan Banking Berhad (“Maybank”) to deploy a Centralised Sustainability Platform (“Platform”). NGX, partners further advocate financial literacy for young Nigerians 22 March 2023 Nigerian Exchange Limited (NGX) continues to build on its advocacy of inculcating a culture of saving and investing in young Nigerians as it celebrates the 2023 edition of Global Money Week (GMW). NYSE Sustainability Leaders Summit 28 March 2023 The New York Stock Exchange, part of Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of data, technology and market infrastructure, is holding its first annual broad market Sustainability Leaders Summit today, bringing together NYSE-listed companies and thought leaders to address pressing topics around sustainability. REGULATORS AND STANDARDS SETTER NEWS Japan Financial Services Agency: International Conference on Sustainability Disclosure 7 March 2023 Capital markets are giving more attention than ever to sustainability information vis-a-vis value creation of the entity. Responding to such needs, tremendous efforts have been made towards developing sustainability disclosure standards by various standard setters and jurisdictions around the world. IFRS Foundation Monitoring Board meets in Tokyo, Japan 9 March 2023 On 2 and 3 March 2023, the IFRS Foundation Monitoring Board met in Tokyo, Japan. On this occasion, the Monitoring Board elected its new Chair; with Jean Paul Servais, IOSCO Chair and Chair of the Belgium Financial Services and Markets Authority relinquishing the post after six years. The Japanese Financial Services Agency, standing member of the Monitoring Board, will now become its new Chair, with Takashi Nagaoka stepping into the role.  Opening Remarks By Dato’ Seri Dr. Awang Adek Haji Hussin, Chairman, Securities Commission Malaysia (SC) At The SC – Securities Industry Development Corporation (SIDC), SRI Taxonomy: Insights And Implementation On 10 March 2023 10 March 2023 As sustainable investments gain momentum, market participants are increasingly looking for more clarity and standardisation of economic activities that would qualify as sustainable investments. On 12 December 2022, the SC released the principles-based sustainable and responsible investment taxonomy for the Malaysian capital market (SRI Taxonomy). ECB And The ESAs Call For Enhanced Climate-Related Disclosure For Structured Finance Products 13 March 2023 The European Supervisory Authorities (ESAs), together with the European Central Bank (ECB), today published a Joint Statement on climate-related disclosure for structured finance products. The Statement encourages the development of disclosure standards for securitised assets through harmonised climate-related data requirements. Global expert in corporate sustainability to chair GSSB 13 March 2023 An international authority in corporate and public sector reporting is to lead the Global Sustainability Standards Board (GSSB), the independent body that sets the GRI Standards. Carol Adams, who for 30 years has worked in sustainability research and leadership roles and is Professor of Accounting at Durham University Business School, has been confirmed as the next GSSB Chair. Keynote Address By Tan Boon Gin, CEO Of Singapore Exchange Regulation, At The ASIFMA Conference On “Scaling Up Sustainable Finance In Asia" 17 March 2023  “I was struck by the theme of the conference when I first encountered it: “Scaling up sustainable finance in Asia”.  Yes, sustainable finance is critical to the transition to green energy and the numbers are huge.” IFC & the Bangladesh Securities and Exchange Commission have signed a milestone agreement in partnership with SECO (State Secretariat of the Economy in Switzerland) 18 March 2023 Bangladesh Securities and Exchange Commission (BSEC) and International Finance Corporation (IFC) under the World Bank signed a cooperation agreement on the national sustainability bond guidelines at the commision’s Agargaon office in the capital on Thursday. How policy makers can implement reforms for a sustainable financial system: stewardship 20 March 2023 New Report: Effective stewardship, with an explicit focus on delivering sustainability outcomes and impacts, delivers real benefits for investors and for society as a whole. Basel Committee to review recent market developments, advances work on climate-related financial risks, and reviews Basel Core Principles 23 March 2023 The Basel Committee on Banking Supervision met on 14 March virtually and on 22–23 March in Hong Kong SAR to take stock of recent market developments and risks to the global banking system and related vulnerabilities, and to discuss a range of policy and supervisory initiatives. The WFE Green Equity Principles 23 March 2023 We are pleased to announce the publication of the Green Equity Principles, the first global framework for designating stocks and shares as green. The Green Equity Principles counter greenwashing and support the enhanced flow of funding towards more sustainable economies. What you need to know about the ISSB’s International Applicability of the SASB Standards project 24 March 2023 The SASB Standards will support companies implementing S1: General Requirements for Disclosure of Sustainability-related Financial Information. ESMA updates its guidance on product governance 27 March 2023 The European Securities and Markets Authority (ESMA), the EU’s Financial Markets Regulator and Supervisor, has published its Final Report on Guidelines on MiFID II product governance guidelines. The main amendments introduced to the guidelines concern: the specification of any sustainability-related objectives a product is compatible with; (...) IOSCO sets out key considerations to promote an effective global assurance framework for sustainability-related corporate reporting 28 March 2023 The International Organization of Securities Commissions (IOSCO) has today published a Report on International Work to Develop a Global Assurance Framework for Sustainability-related Corporate Reporting.  Sustainable Investment Forum Europe 2023 9 May 2023 Hosted by Climate Action and UNEP FI, the 6th Annual Sustainable Investment Forum Europe returns to Paris at the Pullman Paris Eiffel Tower on the 9th May 2023. ESG INDICES AND PRODUCTS BNP Paribas Asset Management adds to range of sustainable ETFs with two new bond funds 8 March 2023 BNP Paribas Asset Management (‘BNPP AM’) announces the launch of BNP Paribas Easy Euro Aggregate Bond SRI Fossil Free ETF and BNP Paribas Easy JPM ESG EMU Government Bond IG 1-3Y ETF.  Listed on Euronext Paris, Borsa Italiana and Deutsche Börse Xetra from 8 March, these two launches enhance BNPP AM's range of bond index funds, which now includes 17 sustainable ETFs. Fidelity Launches Paris-Aware Government Bond ETF Tracking Solactive Index 27 March 2023 Environmental, Social, and Governance (ESG) investing has gained significant traction in recent years as investors increasingly consider aligning their investment decisions with their ethical and social values. This trend has led to a growing number of investment products that take into account ESG factors in their strategies. In the light of this movement, Fidelity International launched a Paris-aware global government bond ETF, expanding its climate fixed income range, after two other ETF launches tracking Solactive’s indices last year.  GENDER EQUALITY Gender-equal boards out of reach until 2038, says MSCI 1 March 2023 LONDON (Reuters) - Gender inequality in boardrooms will not be eliminated until 2038 if the current improvement in female representation is maintained, data provider MSCI said on Wednesday, adding that progress had even stagnated in the United States. Women in ETFs: Stock exchanges ring bell for gender equality on IWD 8 March 2023 Stock exchanges across the globe have been ringing the opening and closing bells to celebrate International Women’s Day (IWD). For the ninth year in a row, stock exchanges in the US, Canada, EMEA and Asia-Pacific have partnered with Women in ETFs to encourage gender equality and women’s empowerment in the workplace. Canadian Securities Regulators Publish Detailed Data For Eighth Annual Review Of Representation Of Women On Boards In Canada 23 March 2023 The securities regulatory authorities in Manitoba, New Brunswick, Nova Scotia, Ontario, Québec and Saskatchewan today published the underlying data used to prepare the eighth annual review of  women on boards and in executive officer positions. EXECUTIVE MOVES National Business Initiative (NBI) Announces New CEO, Shameela Soobramoney  22 March 2023 South Africa’s National Business Initiative (NBI) is delighted to announce Shameela Soobramoney as the organisation’s new Chief Executive Officer (CEO). Shameela joins us from the Johannesburg Stock Exchange (JSE) where she has been the Chief Sustainability Officer, commencing her duties as NBI CEO on 11 April 2023. 

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​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.