October News Highlights

7 November 2023

This month includes news from Bursa Malaysia, BME, Boursa Kuwait, HKEX, 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  UN SSE welcomes Mercado Abierto Electrónico 2 October 2023 The UN Sustainable Stock Exchanges initiative welcomes Mercado Abierto Electrónico (MAE). MAE has solidified its commitment to transparency and sustainability by becoming a partner derivative exchange of the UN SSE initiative. The newest partner joins a network of over 130 exchanges around the world that are committed to promoting sustainable development. UN SSE Wins Climate Leadership Award 13 October 2023 The UN SSE initiative training program on climate disclosures won the Climate Leadership Award at the 2023 Finance for the Future Awards. The training program was developed in collaboration with the World Bank’s International Finance Corporation (IFC) and CDP. UN SSE Global Dialogue 2023 Shines Spotlight on Sustainable Finance at World Investment Forum 17 October 2023 The United Nations Sustainable Stock Exchanges (UN SSE) initiative flagship event, the UN SSE Global Dialogue, was held with great success on 17 October as part of the UNCTAD World Investment Forum. This high-level roundtable, which takes place every two years, brought together close to 30 exchange CEOs, influential thought leaders, high-level representatives from the financial industry, and sustainable finance advocates to discuss and promote sustainable finance practices that drive global development and address pressing environmental and social challenges. Southeast Asian exchanges announce MOU on sustainable finance at SSE Global Dialogue 17 October Bursa Malaysia, the Indonesian Stock Exchange and the Stock Exchange of Thailand announced a Memorandum of Understanding (MoU) during the United Nations Sustainable Stock Exchanges (UN SSE) flagship event, the SSE Global Dialogue, held every two years as part of the UNCTAD World Investment Forum. SSE and IFC launch latest gender equality annual benchmark and new training 17 October 2023 Promoting gender equality in corporate leadership took center stage at the World Investment Forum in Abu Dhabi this week. The United Nations Sustainable Stock Exchanges (UN SSE) and the International Finance Corporation (IFC) launched their third annual Market Monitor on Gender Equality, ranking markets around the world on the gender balance of listed companies' corporate leadership. Financial service providers further the net zero movement at the World Investment Forum in Abu Dhabi 17 October 2023 The United Nations Sustainable Stock Exchanges (UN SSE), in collaboration with the UN-supported Principles for Responsible Investment (PRI), convened a meeting of stock exchanges and financial service providers at the UNCTAD World Investment Forum in Abu Dhabi, shedding light on the efforts of the finance community to achieve a net-zero economy. FEAS signs exchange of letters with UN SSE 18 October 2023 Today at UNCTAD’s World Investment Forum in Abu Dhabi, the UN SSE and the Federation of Euro-Asian Stock exchanges (FEAS) strengthened the collaboration between their respective organisations through an Exchange of Letters. Carbon markets action framework launched at UNCTAD World Investment Forum 18 October 2023 Today, the United Nations Sustainable Stock Exchanges (UN SSE) in collaboration with the International Organisation of Securities Commissions (IOSCO), hosted a roundtable on Carbon Markets at the 8th UNCTAD World Investment Forum in Abu Dhabi. Stock exchanges and academics join forces to enhance progress on SDGs 18 October 2023 The United Nations Sustainable Stock Exchanges (SSE) initiative launched the SSE Academic Working Group at the UNCTAD World Investment Forum with eleven founding members from academic institutions in six countries from Africa, Asia, Europe and North America. Founding members include academics from Columbia University, Oxford University, Imperial College London, University of Geneva, Singapore Management University, Hong Kong Polytechnic University, The Graduate Institute of Geneva, IMD, University of Texas Austin, Northwestern University, and The Graduate School of Business AAST.  UN SSE partners with UN University’s FAST Initiative and Walk Free on finance and human rights 18 October 2023 The United Nations Sustainable Stock Exchanges (UN SSE), the United Nations University's Finance Against Slavery and Trafficking (FAST) and Walk Free brought together thought leaders, industry experts, and advocates under the event titled "Finance and Human Rights" at the UNCTAD World Investment Forum in Abu Dhabi. Stock Exchanges preparing markets for new climate disclosure standards 18 October 2023 Stock exchanges, together with the UN SSE, IFC and the IFRS Foundation, will be providing global market participants with high-quality training and guidance on the latest standards for climate and sustainability disclosures published by the IFRS Foundation’s International Sustainability Standards Board. Stock exchanges are uniquely positioned to enable adoption of a global baseline of sustainability-related financial disclosures through market education and guidance and are working with the UN SSE and its partners to provide globally consistent, high-quality training and guidance to their market participants on this and other topics.   Region in Focus: Arab Capital Markets Sustainable Finance Dialogue 19 October 2023 The Cairo-based Regional Center for Sustainable Finance (RCSF), the Arab Federation of Capital Markets (AFCM) and the UN Sustainable Stock Exchanges (UN SSE) initiative co-organized a CEO roundtable featuring exchange representatives, regulators and government officials from the Arab region at the UNCTAD World Investment Forum in Abu Dhabi.  SSE and GRI announce capacity building collaboration at UNCTAD WIF 20 October 2023 The Global Reporting Initiative (GRI) and the United Nations Sustainable Stock Exchanges (UN SSE) initiative launched a joint capacity-building program at the UNCTAD World Investment Forum. The training program was announced at a roundtable discussion “Sustainability Reporting Standards and Regulations”.  SSE TV announces new episodes! 21 October 2023 The SSE TV channel, produced by Fintech TV, was on location in Abu Dhabi for the World Investment Forum where it interviewed a number of stock exchange CEOs and regulators from around the world. Check out the all new episodes.  EXCHANGE NEWS Boursa Kuwait organizes ESG workshop for capital market participants 7 October 2023 Boursa Kuwait, the State of Kuwait’s official stock exchange, organized an Environmental, Social and Governance (ESG) workshop for capital market participants on Monday, October 2, 2023, in collaboration with Sustainable Square, a consulting firm based in the United Arab Emirates. BME Launches IBEX® ESG Index Family To Promote Sustainability 5 October 2023 BME today announced the launch of the IBEX® ESG index family, which promotes investments with a sustainable approach. The ESG criteria provide information on the performance of companies in environmental, social and governance aspects. Inrate, as an independent provider, developed this methodology and the necessary information for measuring the impact of companies. ICE Named ESG Data Vendor of the Year in the Asia Pacific Region by Asia Risk 10 October 2023 Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of data, technology and market infrastructure, today announced that Asia Risk has selected ICE as ESG Data Vendor of the Year in the Asia Pacific region. This award comes after significant developments to ICE’s Sustainable Finance business in the last year. Warsaw Stock Exchange updates sustainability reporting guidelines with EBRD support 18 October 2023 The Warsaw Stock Exchange (WSE) has published updated environmental, social and governance (ESG) reporting guidelines for listed companies, developed with the technical assistance of the European Bank for Reconstruction and Development (EBRD). In line with SDG5, Latinex celebrates the signing of the collaboration agreement with ADP (Asociación de Directoras de Panamá) 20 October 2023 ADP and the Latin American Stock Exchange Latinex signed a cooperation agreement for the promotion of the inclusion of qualified women on boards of directors and the continuous training of directors. Bursa Malaysia: Advancing Decarbonisation Efforts For Small And Medium Enterprises 24 October 2023 Bursa Malaysia is developing the Centralised Sustainability Intelligence (“CSI”) Platform, to be used by both public listed companies (PLCs) and non-listed small and medium enterprises (SMEs) to assess their carbon emissions impact, disclose standardised environmental, social and governance (ESG) data in compliance with both local requirements and global standards, to subsequently facilitate access to sustainable financing.  HKEX Signs Agreement With CEEX Shenzhen To Advance The Greater Bay Area’s Carbon Market Ecosystem 31 October 2023 Hong Kong Exchanges and Clearing Limited (HKEX) is today (Tuesday) pleased to announce it has signed a Memorandum of Understanding (MOU) with the China Emissions Exchange Shenzhen (CEEX Shenzhen) to cooperate in accelerating the carbon market ecosystem development in Hong Kong and across the Greater Bay Area. REGULATORS AND STANDARD SETTER NEWS Transition Plan Taskforce launches framework to address climate change 9 October 2023 The Transition Plan Taskforce (TPT) has launched their ‘best practice’ disclosure framework for climate transition plans to allow companies and financial institutions to play their part in the shift to net zero. UK Financial Conduct Authority Welcomes The Launch Of The Transition Plan Taskforce Disclosure Framework 9 October 2023 Today, the FCA welcomes the publication of the Transition Plan Taskforce (TPT) Disclosure Framework. As we transition to a low emissions economy, financial markets will increasingly want better information on how companies plan to adapt their business models, their operations and their products and services. FSB Publishes Annual Progress Report On Climate-Related Disclosures 12 October 2023 Report notes that significant further progress has been achieved on climate disclosures over the last year, including the publication of the International Sustainability Standards Board (ISSB) Standards, which will serve as a global framework. Launch of the Beyond the Balance Sheet Platform 19 October 2023 IFC - International Finance Corporation launched its Beyond the Balance Sheet Platform, a one-stop shop on sustainability and climate reporting tailored for emerging markets, at this year’s SSE event on Stock Exchange Action on Climate Disclosures taking place at UNCTAD's World Investment Forum, where more than 6,000 investment stakeholders from 160 countries are gathering this week in Abu Dhabi. GFANZ Launches Latin America & Caribbean Network to Support Climate Finance in the Region 23 October 2023 Today, during the United Nations Latin America and Caribbean Climate Week, the Glasgow Financial Alliance for Net Zero (GFANZ), the world’s largest coalition of financial institutions committed to the goal of net zero by 2050, announced the formation of its Latin America & Caribbean Network and the creation of a senior Advisory Board to drive net-zero progress in the region. IFRS Foundation Monitoring Board Meets In Panama City, Panama 23 October 2023 On October 18 and 19 2023, the IFRS Foundation Monitoring Board met in Panama City, Panama. This in-person meeting provided the Monitoring Board with an opportunity to meet with the Trustees of the IFRS Foundation under the leadership of Erkki Liikanen, Chair of the Foundation, and also with Andreas Barckow, the International Accounting Standards Board (IASB) Chair, and Emmanuel Faber, the International Sustainability Standards Board (ISSB) Chair at an important juncture. Hong Kong Securities And Futures Commission Supports And Sponsors The Development Of An Industry-Led Voluntary Code Of Conduct For ESG Ratings And Data Products Providers 31 October 2023 The Securities and Futures Commission (SFC) today announced that it supports and sponsors the development of a code of conduct for voluntary adoption by environmental, social and governance (ESG) ratings and data products providers providing products and services in Hong Kong.  New Zealand Financial Markets Authority: Climate-Related Disclosures – Scenario Analysis Information Sheet 31 October 2023 This information sheet details compliance expectations of the FMA for scenario analysis disclosures made under the climate-related disclosures (CRD) regime. It will be useful for climate reporting entities (CREs), their directors, and other interested parties. GENDER EQUALITY Canada: Ninth Annual Review Of Women On Boards Data Shows Gender Diversity Continues To Progress In Alberta-Based Companies 5 October 2023 The Alberta Securities Commission (ASC) today participated in the publication of Canadian Securities Administrators (CSA) Multilateral Staff Notice 58-316 Review of Disclosure Regarding Women on Boards and in Executive Officer Positions (Year 9 Report). Women on Ghana’s listed boards surge by 12% in 2023 – Report 30 October 2023 The Board Diversity Index for 2023, put together by TheBoardroom Africa (TBrA) in collaboration with the Ghana Stock Exchange, indicates that Ghana has made remarkable progress in the journey towards gender parity in boardrooms, particularly in companies listed on the Ghana Stock Exchange.

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.