March News Highlights

1 April 2024

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 www.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. United Kingdom of Great Britain and Northern Ireland: LSEG Training on IFRS Sustainability Disclosure Standards 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. Invest ASEAN Conference Positions The Region As A Compelling Investment Destination To Australian Investors - Malaysian Prime Minister, And CEOs of ASEAN Exchanges Reinforce The Region’s Thriving Economic And Investment Opportunities 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. London Stock Exchange Group Plc: Annual Report And Accounts, Notice Of Annual General Meeting, Sustainability Report And Related Documents 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 at https://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. The IFRS Foundation Monitoring Board Reaffirmed The Importance Of Ongoing Oversight Of The Standard-Setting Activities And Governance Of The IFRS Foundation 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.  United States of America: Statement On Final Rules Regarding Mandatory Climate Risk Disclosures, SEC Chair Gary Gensler, March 6, 2024 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. Sweden: Finansinspektionen Would Like The Financial Market To Shift Its Sustainability Work Into The Next Gear 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. Norway: DNV, One Of The World’s Largest Classification Societies Becomes An Approved Verifier For Green Entity Certification - Operating Across More Than 100 Countries, DNV Expands Certification Expertise Under The Climate Bonds Standard 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. Canadian Securities Regulators Issue Statements On Proposed Sustainability Disclosure Standards And Ongoing Climate Consultation 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 International Women’s Day 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.

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.