This month includes news from the Australian Securities and Investments Commission (ASIC), Boursa Kuwait, Bursa Malaysia, Shanghai Stock Exchange, the World Federation of Exchanges (WFE), and more. Monthly news highlights are compiled by the SSE to give an overview of the capital markets' sustainability news from that month.
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UPCOMING SSE INITIATIVE EVENTS
UN SSE Q4 Call: Gender Equality in corporate leadership 2024
16 December 2024
We are pleased to invite you to our fourth Quarterly Call of 2024, scheduled for Monday, 16 December 2024. This Q4 2024 webinar will focus on gender equality. We will discuss the findings of our new benchmark research into the gender equality of issuers’ boards on stock exchanges around the world. This research is a continuation of our annual G20 and Regional benchmark. This year, we are again including markets from Latin America, as well as Eastern Europe and Central Asia. You can find data from the past years’ research in our Gender Equality Database.
UPCOMING SSE ACADEMY WORKSHOPS
The following SSE Academy workshops are coming soon! SSE Academy workshops are hosted by SSE Partner Exchanges and invitations are managed directly by the exchange. If you wish to register, please visit the event page. For all upcoming workshops, visit SSEinitiative.org/sse-academy/
- 12 December 2024: Securities Industry Development Corporation (SIDC) Malaysia workshop on IFRS Sustainability Disclosure Standards
SSE INITIATIVE NEWS
Over 12,000 trained since launch of UN SSE, IFRS Foundation, IFC capacity building program
12 November 2024
On the occasion of COP29, the United Nation climate conference, the UN SSE, the IFRS Foundation and the IFC celebrate the one year mark since the start of their joint capacity building program on climate disclosure. Since the launch of this joint capacity-building program 1 year ago, the organizations have trained over 12,000 market participants around the world. The joint capacity building program leverages the global reach of the UN SSE’s network of stock exchanges, the IFC’s local offices and local expertise, combined with the IFRS Foundation’s authoritative knowledge of their standards.
NZFSPA Exchange Group Releases First Annual Review for Net Zero Goals - Key Milestone Showcases Exchanges' Commitment to Climate Action
14 November 2024
The United Nations Sustainable Stock Exchanges (UN SSE) initiative announces the publication of the first annual target reports under the Net Zero Financial Service Providers Alliance (NZFSPA), along with a comprehensive Completeness Review to highlight the exchanges' specific actions toward achieving net-zero goals. This important milestone comes as a highlight of COP29 Finance Day, reinforcing the critical role stock exchanges play in mobilizing the financial sector toward a transition to net zero emissions economies.
Five more exchanges join $27 trillion Net Zero Exchange Group at COP29: Bursa Malaysia, Euronext, KASE, MAV and Saudi Exchange
14 November 2024
Today at COP29 Finance Day, Bursa Malaysia, Euronext, Kazakhstan Stock Exchange (KASE), Mercado Argentino de Valores (MAV) and the Saudi Exchange announced they were joining the Net Zero Financial Services Providers Alliance (NZFSPA) Exchange Group. This is a significant milestone in the Exchange Group’s journey which now includes 20 exchanges, together listing over 12,000 companies with over US$27 trillion in market capitalisation. The growth of the Net Zero Exchange Group since its launch at COP26 three years ago reflects the growing importance of collaboration and commitment within the financial services sector to address the climate crisis.
UN SSE convenes exchanges, standard setters and regulators at Climate Summit COP29
15 November 2024
The United Nations Sustainable Stock Exchanges (SSE) initiative convened market leaders at COP29 to promote sustainable finance as a critical tool in addressing the climate crisis. In collaboration with global regulators, exchanges, and financial institutions, the UN SSE hosted three major events over two days, focusing on harnessing capital markets to drive environmental sustainability.
Launch of Global Initiative: Ring the Bell for LGBTIQ+ Equality Set for May 2025
27 November 2024
The United Nations Sustainable Stock Exchanges (SSE) initiative, proudly announces the first-ever Ring the Bell for LGBTIQ+ Equality in collaboration with UN Global Compact, UN Human Rights (OHCHR), Koppa - The LGBTI+ Economic Power Lab and the Partnership for Global LGBTIQ+ Equality. This historic global event will take place from May 14-23, 2025, in observance of the International Day against Homophobia, Biphobia, and Transphobia. It follows the call of UN Secretary-General António Guterres and the work of the entire UN system to end violence, discrimination and harmful practices against LGBTIQ+ communities around the world.
EXCHANGE NEWS
Exchanges Ring The Bell In Support Of Climate Initiatives And Sustainability
5 November 2024
The World Federation of Exchanges (The WFE), the global industry group for exchanges and CCPs, is mobilising the exchange industry for its annual Ring the Bell for Climate initiative. In the run up to COP29, exchanges will come together to highlight the importance of sustainability issues in the finance industry and demonstrate the role they are playing to address them.
Boursa Kuwait continues to promote financial literacy as the first strategic partner of the CFA Institute’s Research Challenge
10 November 2024
Boursa Kuwait sponsored and hosted the CFA Institute's Research Challenge, organized in collaboration with the CFA Society Kuwait. This competition provides a unique opportunity for students from participating colleges to embark on a journey into the world of finance. Through comprehensive training and mentorship, they gain valuable skills in financial analysis and professional conduct.
Over 2,200 Shanghai Stock Exchange-Listed Companies Disclose ESG Information: Showing Strong Momentum In Green Transformation
15 November 2024
With the growing trend of sustainable development, ESG (Environmental, Social, and Governance) has become a core element for assessing a company's long-term value. Companies listed on the Shanghai Stock Exchange (SSE) have stood out in this process, with a remarkable 2,272 listed companies disclosing their 2023 annual reports and basic ESG information. Among them, 1,149 companies separately disclosed their annual ESG-related reports. The disclosure rate climbed to 50.6%, up 3.6 percentage points from the previous year.
ASEAN-Interconnected Sustainability Ecosystem (ASEAN-ISE) Participating Exchanges To Issue A Request For Information (RFI) To Develop A Centralised ASEAN ESG Data Infrastructure
26 November 2024
The ASEAN-Interconnected Sustainability Ecosystem (ASEAN-ISE) initiative, which aims to create a harmonised ASEAN sustainability ecosystem, continues to make strides. A workshop in Kuala Lumpur last week centred on the development of an ASEAN-level ESG Data Infrastructure, to enable accurate, efficient and standardisation of ESG data collection, analysis and reporting, towards promoting sustainable investment in the region.
REGULATOR AND STANDARD SETTER NEWS
Australia: ASIC Seeks Feedback On Proposed Guidance On Sustainability Reporting Regime
7 November 2024
ASIC has today released a draft regulatory guide on the sustainability reporting regime for consultation with stakeholders. From 1 January 2025, many large Australian businesses and financial institutions will need to prepare annual statutory sustainability reports containing climate-related financial disclosures. The draft Regulatory Guide 000 Sustainability reporting (Draft RG 000) includes guidance on who must prepare a sustainability report, how the regime will interact with existing legal obligations and how ASIC will administer the sustainability reporting requirements. This includes specific guidance on ASIC’s approach to granting relief from the regime and use of its new directions power.
Green taxonomy comparison aims to improve cross-border sustainable investment
19 November 2024
A joint initiative between Singapore, China and Europe has compared their respective green taxonomies to facilitate cross-border green loans and bonds aimed at funding sustainable investment projects. As part of the International Platform on Sustainable Finance (IPSF), the Monetary Authority of Singapore (MAS) joined the initiative already agreed to by the European Commission and the People’s Bank of China (PBoC), and builds on the existing EU-China common ground taxonomy.
China Association For Public Companies And China Securities Index Co. Jointly Released The Report On ESG Development Of Chinese Listed Companies (2024)
22 November 2024
On November 22, the China Association for Public Companies (CAPCO) and the China Securities Index Co., Ltd. (CSI) jointly released the Report on ESG Development of Chinese Listed Companies (2024) (the "Report") at the 2024 China Public Companies Sustainable Development Conference. This marks the fourth consecutive year that the two organizations have published this report, opening a window for global stakeholders to understand the ESG development of China's listed companies. The Report indicates that China is making solid progress in sustainable development, with multiple sectors working together to promote ESG initiatives.
UK Launches Proposed Law to Regulate ESG Ratings Providers
26 November 2024
The UK government announced the publication of draft legislation, aimed at regulating providers of ESG ratings, with plans to proceed with introducing a finalized law to Parliament in early 2025. The new proposed law would place ESG ratings providers under the supervision of the Financial Conduct Authority (FCA). The new draft legislation follows the launch of a consultation in early 2023 by the prior government assessing the need to regulate ESG ratings providers in order to improve clarity and trust in ESG ratings, as investors increasingly integrate ESG considerations into the investment process, while the activities and businesses of the providers are generally not covered by markets and securities regulators.
Hong Kong (China) SFC-backed launch event garners broad industry support for voluntary code of conduct for ESG ratings and data products providers
29 November 2024
The Securities and Futures Commission’s (SFC) senior executives joined more than 200 financial industry participants today to witness the launch of Hong Kong’s voluntary code of conduct (VCoC) for environmental, social and governance (ESG) ratings and data products providers (Note 1).
ESG INDICES AND PRODUCTS
FTSE Russell Launches The FTSE MIB ESG Risk-Adjusted Index
19 November 2024
FTSE Russell today announces the launch of the FTSE MIB ESG Risk-Adjusted Index. The new FTSE MIB ESG Risk-Adjusted Index provides investors with improved index level ESG performance, adjusting ESG and carbon risks, active industry weights and maximum stock weight with a low tracking error.
