This month includes news from ADX, Bahrain Bourse, Cambodia Securities Exchange, HKEX, LuxSE, 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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SSE INITIATIVE NEWS & EVENTS
9 November 2023
In June 2023, the International Financial Reporting Standards Foundation (IFRS) ushered in a new era of sustainability-related disclosure in capital markets worldwide with the launch of IFRS S1, “General Requirements for Sustainability-related Financial Information” and IFRS S2 “Climate-related Disclosures.” The IFRS Sustainability Standards were developed by the International Sustainability Standards Board (“ISSB”). In order to help capital market participants to implement the new standards and to build capacity for consistent, global uptake, the UN SSE and IFC have partnered with the IFRS Foundation to provide training free-of charge with UN SSE Partner Exchanges.
Euronext hosts inaugural training workshop on the IFRS Sustainability Disclosure Standards
22 November 2023
The UN SSE initiative and IFRS Foundation were invited to hold an in-person workshop on applying the IFRS Sustainability Disclosure Standards at Euronext Dublin as part of Climate Finance Week Ireland (CFWI). Hosted jointly with the International Sustainable Finance Centre of Excellence (ISFCOE) and Euronext, the capacity building event gave participants the opportunity to interact with the top experts on the new standards.
29 November 2023
The publication Modern Slavery: Analysis of Coverage in Exchange ESG Disclosure Guidance, was released today in Geneva at the UN Business and Human Rights Forum. A joint publication by the UN Sustainable Stock Exchanges (UN SSE) initiative, the Finance Against Slavery and Trafficking (FAST) initiative at the United Nations University Centre for Policy Research (UNU-CPR), and Walk Free, an international human rights group, the Market Monitor examines the number of exchanges that reference key modern slavery-related terms in their ESG disclosure guidance, helping to identify the extent to which this subject has been integrated into mainstream recommended disclosure practices.
COP28: Exchanges and climate action: financing the net zero transition
4 December 2023
Organized by UN SSE and UNCTAD from 9:00 to 10:00 (local time) in the B7 Pavilion 88 “Trade Pavilion”, Blue Zone, Expo City, Dubai.
4 December 2023
Organized by UN SSE and UNFCCC from 14:00 to 15:00 (local time) in Zone B Building 24 “Global Innovation Hub pavilion” located in the Blue Zone, of the Expo City Dubai.
COP28: WEBINAR – Support for IFRS S2 Climate-related Disclosures
5 December 2023
Organized online by ESG Exchange and UN SSE from 16:00 to 17:00 Dubai time.
5 December
Organized by UN SSE, UN Global Compact, GISD Alliance, Dubai Financial Market from 15:00 to 18:00 on the Nasdaq Dubai Market site, Nasdaq Dubai, GV11, DIFC (8th Floor)
During this quarterly webinar, we are publishing, in collaboration with our partners at IFC and UN Women, two important benchmarks for exchanges to measure their markets’ progress on boardroom gender equality:
- 08:00 Geneva / 15:00 Kuala Lumpur: Asia Regional Report on Gender Equality in Corporate Leadership: Includes 17 public markets, ranked by the gender balance of issuers boards.
- 15:00 Geneva / 17:00 Kenya: Africa Regional Report on Gender Equality in Corporate Leadership: Includes 13 public markets, ranked by the gender balance of issuers boards.
EXCHANGE NEWS
Bahrain Bourse to host 2023 Middle East Investor Relations Association Annual Conference & Awards
5 November 2023
Bahrain Bourse (BHB), a Licensed Exchange by the Central Bank of Bahrain, has announced that it will be hosting the Middle East Investor Relations Association (MEIRA) Annual Conference and Awards – MEIRA 2023: From ESG to Sustainable Capital Markets in collaboration with the Central Bank of Bahrain. The conference is scheduled to take place on November 13, 2023, at The Ritz-Carlton, Bahrain.
The Rockefeller Foundation Announces Laura May-Lung Cha Joins Its Board of Trustees
11 November 2023
The Rockefeller Foundation is pleased to announce that Laura May-Lung Cha, Chair of the Hong Kong Exchanges and Clearing Ltd. (HKEX), which is one of the world’s largest exchange groups by market capitalization, will serve on its Board of Trustees. In addition to being a trailblazer in the financial world as first chairwoman of the HKEX and supporter of greater diversity and gender equity in the workplace, Ms. Cha brings decades of international, listed company, and public sector experience to the Foundation’s board.
First Cabo Verdean green bond listed on LuxSE
14 November 2023
Less than two years after initiating their cooperation, the Luxembourg Stock Exchange (LuxSE) and Bolsa de Valores de Cabo Verde (BVC) can celebrate another milestone made possible by their joint efforts to advance sustainable finance developments within and beyond Cabo Verde.
17 November 2023
The Stock Exchange of Hong Kong Limited (the Exchange), a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEX), today (Friday) published the findings of its latest review of issuers’ corporate governance practices (Review), and a new guide for independent non-executive directors (INEDs).
ADX welcomes the listing of the first ever Dirham dominated Green Sukuk issued by FAB
22 November 2023
Abu Dhabi Securities Exchange (ADX) today launched the listing of an AED 1.3 billion Green Sukuk by First Abu Dhabi Bank (FAB), notably marking the fifth Green debt instrument on ADX. FAB is the United Arab Emirates’ largest bank and one of the world’s largest banking groups, with total assets of AED 1.2 trillion.
SGX-Listed Issuers Improve Sustainability Reporting; Climate Disclosures Underdeveloped
23 November 2023
A biennial study by Singapore Exchange Regulation (SGX RegCo) and the Centre for Governance and Sustainability (CGS) at the NUS Business School has found that listed issuers of all sizes have improved in terms of sustainability reporting since the first study conducted in 2019. The average 2023 score was 75 points out of a possible 100 versus 72 in 2021 and 61 in 2019.
HKEX Commits To Carbon Neutrality By 2024 And Net Zero By 2040
27 November 2023
Hong Kong Exchanges and Clearing Limited (HKEX) is today (Monday) pleased to announce the company’s own commitments to achieving both carbon neutrality and net zero. Reflecting the Group’s long-standing convictions, and commitments to advancing the sustainable development of global markets and the broader communities in which the Group operates, HKEX is pleased to confirm its plans to achieve Group carbon neutrality by 2024, and net zero by 2040.
Abu Dhabi stock exchange launches ESG benchmark index
28 November 2023
The Abu Dhabi Securities Exchange (ADX) on Tuesday launched its first Environmental, Social, and Governance (ESG) benchmark index ahead of the COP28 summit, the stock exchange said.
28 November 2023
Hong Kong Exchanges and Clearing Limited (HKEX) is today (Tuesday) pleased to announce that it has signed a Memorandum of Understanding (MOU) with the China Beijing Green Exchange (CBGEX) to explore cooperation in a number of areas, including building an ESG ecosystem, promoting green and sustainable finance and contributing to the green development of the Belt and Road Initiative (BRI).
Focus On ESG And Digitalisation: Vienna Stock Exchange Expands Its Global Market And ETF Offering
29 November 2023
The Vienna Stock Exchange is further expanding its range of titles in the international market segment global market and exchange-traded funds (ETFs) with a focus on ESG and digitalisation. A total of ten new shares – primarily from the USA – and seven additional ETFs will be offered.
Nasdaq Launches New Technology To Scale Global Carbon Markets
29 November 2023
Nasdaq (Nasdaq: NDAQ) today announced the launch of a pioneering new technology that securely digitizes the issuance, settlement, and custody of carbon credits. It will be provided to market infrastructures, registry platforms, and other service providers globally.
CSX: Historic green bonds issued in first for Kingdom
30 November 2023
Cellcard (CamGSM), a leading and longstanding telecommunications service provider, achieved an historic milestone as the first company on the Cambodia Securities Exchange (CSX) to officially list and issue sustainability bonds. The move raised nearly $20 million, earmarked for expanding its business operations.
REGULATORS AND STANDARD SETTER NEWS
GRI establishes Sustainability Innovation Lab in coordination with the IFRS Foundation
9 November 2023
Global Reporting Initiative (GRI) has announced the upcoming launch of the Sustainability Innovation Lab (SIL), in partnership with the IFRS Foundation as its Convening Partner. The SIL is being established to enable companies to meet their evolving sustainability disclosure requirements, fostering professional development, training, practical solutions and innovative thinking.
16 November 2023
The Monetary Authority of Singapore (MAS) today launched Gprnt (pronounced “Greenprint”), an integrated digital platform that harnesses technology to simplify how the financial sector and real economy collect, access and act upon environmental, social and governance (ESG) data to support their sustainability initiatives.
SBTi opens call for Financial Institutions to Pilot its Near-Term Criteria V2
24 November 2023
The Science Based Targets initiative (SBTi) has opened a new call for Financial Institutions (FIs) to pilot its updated Near-Term Criteria and Recommendations V2.
Exchanges Ring The Bell Globally to Mobilise for Climate
28 November 2023
The World Federation of Exchanges (“WFE”), the global industry group for exchanges and CCPs, is mobilising the exchange industry for its inaugural Ring the Bell for Climate initiative. Over the next few weeks exchanges will come together to take steps to address climate change and sustainability issues.
28 November 2023
The FCA has confirmed a substantial package of measures to improve the trust and transparency of sustainable investment products and minimise greenwashing.
BIS: Basel Committee Consults On A Disclosure Framework For Climate-Related Financial Risk
29 November 2023
The Basel Committee on Banking Supervision today issued a public consultation paper on a Pillar 3 disclosure framework for climate-related financial risks. This work forms part of the Committee's holistic approach to address climate-related financial risks to the global banking system.
1 December 2023
This event will help understand the Financial Regulator’s role in supporting VCM, explore the role of VCM in the transition to low carbon economy and identify challenges and opportunities.
GENDER EQUALITY
JPX-Nikkei stock indexes will ask for more female executives next year
22 November 2023
Nikkei and JPX Market Innovation & Research (JPXI) will revise the gender criteria for candidates of companies included in the JPX-Nikkei Index 400 and the JPX-Nikkei Mid and Small Cap Index, the two index providers said on Wednesday, aiming to increase the number of women in highly rated companies' decision-making.
