September 2025 News Highlights

6 October, 2025

This month’s edition features news from September, with highlights from China, Greece, Europe, Japan, Kazakhstan, Singapore, Tunisia, and beyond. Compiled by the SSE, these monthly updates provide an overview of the latest developments in capital markets and sustainability.

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SSE & PARTNER NEWS

UN SSE and TNFD launch Model Guidance on Nature-related Financial Disclosures
The UN SSE in partnership with the Taskforce on Nature-related Financial Disclosures (TNFD), has published a Model Guidance on Nature-related Financial Disclosures to support stock exchanges and their issuers in addressing nature-related risks and opportunities. The guidance was officially launched at the Building Bridges conference in Geneva this week alongside an online webinar. Stock exchanges interested in further information or in adapting the guidance for their markets are invited to contact the UN SSE directly. Download the Guidance here.

Media coverage of the Guidance Launch:

Survey Open on UN WEPs Reporting Framework
The UN Women - Women’s Empowerment Principles (WEPs) have launched a survey to update their Transparency and Accountability Framework, building on the 2025 Global WEPs Survey. The new framework will introduce a tiered approach to recognize companies at different stages of their gender equality journey. Input from WEPs signatories will help shape global standards, strengthen accountability, and drive impact across industries. Responses are confidential and open until 15 October 2025.

Kazakhstan Stock Exchange Rings the Bell for SMEs: Unlocking Capital Markets Potential
On 18 September 2025, the Kazakhstan Stock Exchange (KASE), in collaboration with the United Nations Sustainable Stock Exchanges (UN SSE) initiative, hosted its first “Ring the Bell for SMEs” ceremony in Almaty. The event underscored the role of capital markets in widening access to finance for small and medium-sized enterprises (SMEs)—the backbone of Kazakhstan’s economy and a key driver of sustainable development.

UN SSE Interviewed by Responsible Investor Magazine
The UN SSE views derivatives exchanges as a fast-growing frontier for embedding sustainability into financial markets. According to SSE Chief, Anthony Miller, guidance and training for exchanges are key to scaling sustainable practices in derivatives trading. The article argues that leveraging derivatives exchanges can extend ESG disclosure, risk pricing, and sustainable finance into new asset classes. In doing so, it positions derivatives markets as critical infrastructure for the integrative growth of sustainability in capital markets.

UN SSE Chair Nan Li Delivers Key Call for Inclusive, Resilient Investment at FIC 2025
At the Future Investment Conference (FIC 2025) hosted by UNCTAD in partnership with the China International Fair for Investment and Trade, Chair Nan Li of the UN Sustainable Stock Exchanges Initiative (UN SSE) addressed an audience of investors, policymakers, and innovators to underscore the critical role of sustainable, inclusive, and resilient investment in today’s shifting global landscape. Her remarks reflected the conference’s focus on navigating global investment shifts, harnessing technology for sustainable growth, and ensuring that capital flows align with long-term development priorities. Read more about the conference here.

TNFD Reports Rapid Uptake of Nature-Related Disclosures in 2025
The 2025 Status Report marks two years since the release of the Taskforce on Nature-related Financial Disclosures (TNFD) recommendations, highlighting strong early uptake. Over 620 organisations across 50+ countries - managing around USD 20 trillion in assets - have committed to begin nature-related reporting, with more than 500 aligned reports already published. Among respondents, 64% believe nature issues are as significant or more so than climate issues, and 78% have integrated nature with climate disclosures. As an SSE Academy partner, TNFD recently co-launched model guidance with the SSE, and beginning in 2026 the two organisations will jointly deliver training to markets worldwide on nature-related disclosures.

SSE Academy Upcoming Workshops & News

The following SSE Academy workshops are coming up 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/

Secure Your Spot Now: 2025 IFRS Sustainability Disclosure Standards Training for Exchanges — Limited Slots Available!

Empower your issuers to meet the demands of sustainability-related financial disclosure with the IFRS Sustainability Disclosure Standards Training. Developed by the UN SSE in partnership with the IFRS Foundation and IFC, this free online program helps market participants implement IFRS S1 (“General Requirements for Sustainability-related Financial Information”) and IFRS S2 (“Climate-related Disclosures”). Through 3.5 hours of live facilitation, interactive activities, and practical guidance, participants will gain the tools to integrate sustainability into governance, strategy, and risk management processes. Open to your listed companies, financial organizations, and regulators, this CPD certified training builds capacity in your market for global consistency in sustainability reporting. Stock exchanges wishing to host a training session should contact the SSE early to reserve one of the limited slots available.

More information here: https://sseinitiative.org/training-issb

Don’t Miss Out: 2025 Gender Equality Training for Exchanges and Market Participants — Sign Up Now!

Help to achieve UN Sustainable Development Goal 5 by hosting the Gender Equality in Global Capital Markets training. This free online program, hosted by SSE Partner Exchanges and facilitated by experts from the UN SSE and UN Women, offers a step-by-step approach to understanding and enhancing gender equality in markets. With four engaging modules, participants will explore the financial implications of gender inequality, improve corporate reporting and literacy on gender equality, and identify market opportunities tied to these advancements. Designed for leadership and operational staff, the training includes live expert facilitation, interactive activities, and case studies from guest speakers. This CPD certified program is an excellent opportunity for listed companies, financial organizations, and regulators to drive gender equality through sustainable finance. Stock exchanges wishing to host a training session should contact the SSE early to reserve one of the limited slots available.

More information here: https://sseinitiative.org/gender-equality-workshop

EXCHANGE NEWS

Athex Exchange Group to Host Sustainability Summit
The ATHEX Sustainability Summit 2025, organized by the Athens Exchange Group and sponsored by SSE Supporter S&P Global, will be held on 9 October at the Divani Caravel Hotel in Athens. Centered on the theme “Sustainability & Growth,” the event will convene corporate leaders, sustainability experts, regulators, and investors to discuss key trends and challenges in sustainable finance. The program features keynote speeches and a CEO panel to encourage dialogue and networking across sectors, offering participants practical insights on embedding ESG practices to drive growth in both listed and non-listed companies.

Trinidad & Tobago Stock Exchange to Host Capital Markets Conference
The TTSE Capital Markets Conference 2025, organized by the Trinidad & Tobago Stock Exchange will be held October 24th, and is themed “Future-Proofing Capital Markets in an Era of Transformation.” It will feature senior leaders such as the TTSE CEO, the Central Bank Governor, and government dignitaries - addressing how evolving policies, technology, and global shifts are reshaping capital markets.

China - Shanghai Stock Exchange Solicits Public Comments on Three Guides for Compilation of Sustainable Development Reports
5 September 2025
China’s Shanghai Stock Exchange released its plans to advance green finance, emphasizing stronger listing criteria and ESG disclosures for issuers. The update reinforces the SSE’s intent to boost transparency, promote green bonds, and integrate sustainability across its capital market ecosystem. It also signals greater alignment with national and global climate goals by encouraging market participants to adopt more rigorous environmental standards. They expect these measures to deepen investor confidence and catalyze sustainable growth in China’s financial markets.

China - SZSE Seeking Public Opinions on the Revised Guidance for Preparation of Sustainability Report
5 September 2025
The Shenzhen Stock Exchange (SZSE) is soliciting public feedback on updated self-regulatory guidance for listed companies’ sustainability reporting. The revisions introduce three new chapters: “Pollutant Discharge,” “Energy Utilization,” and “Water Resources Utilization” - with procedures and metrics for emissions, energy consumption, and water usage. SZSE aims to strengthen disclosure consistency and support firms’ alignment with sustainable development goals, noting that over 40% of its listed companies already publish sustainability reports.

Tunisia - Tunis Stock Exchange Awarded “Africa's Best Exchange for Financial Literacy”
10 September 2025
Tunis Stock Exchange is proud to announce that it has won the prestigious “Africa's Best Exchange for Financial Literacy” award at the Euromoney Capital Markets Awards 2025. This international distinction recognizes Tunis Stock Exchange’s continuous efforts in promoting financial literacy and awareness raising, aimed at bringing financial markets closer to the public, investors, and the younger generation.

S&P Global Publishes "Supply Chain Sustainability Practices in Japan" Supported by JPX
12 September 2025
The Japan Exchange Group (JPX) supported a new S&P Global Sustainable1 report analyzing supply chain sustainability practices in Japan, offering critical insights into disclosure, risk management, and nature-related challenges among listed firms. The study notes that Japanese companies lead in setting net-zero goals but lag peers in incorporating Scope 3 emissions and screening suppliers for ESG risks.

Euronext Sustainability Week 2025: Driving Europe’s sustainable and strategic resilience forward
15 September 2025
Euronext held Sustainability Week 2025, bringing together over 3,200 participants and more than 180 speakers across 34 events in ten European cities to advance dialogue on sustainable finance, regulation, and innovation. During the week, Euronext unveiled new initiatives including the Euronext Sustainable Network, enhanced ESG data tools (My ESG Profile and My ESG Benchmark), and an updated ESG Reporting Guide. It also announced launching the Euronext Trading Game to boost financial literacy and scholarship programs to support diversity in leadership.

Singapore - SGX Tightens Climate Reporting Rules, Expands Green Products as Sustainable Finance Demand Grows
17 September 2025
SGX is strengthening its climate disclosure requirements for listed companies, demanding more rigorous emissions reporting and alignment with international standards. Meanwhile, it is expanding its suite of green and sustainable finance products to meet rising investor appetite and mobilize capital toward decarbonization. These initiatives underscore SGX’s commitment to deepening sustainable finance infrastructure in Singapore and the region.

Fiji - SPX Launches Sustainability Training
19 September 2025
The South Pacific Stock Exchange, in collaboration with the United Nations Sustainable Stock Exchanges, has announced its first technical training initiative since joining the global UN SSE network. The training will focus on the new IFRS sustainability disclosure standards (IFRS S1 and IFRS S2) and will be held next month.

REGULATOR & STANDARD SETTER NEWS

Hong Kong Proposes Expanding Sustainable Finance Taxonomy to Transition Activities
10 September 2025
The Hong Kong Monetary Authority (HKMA), Hong Kong’s central banking institution, announced the release of a draft update of the Hong Kong Taxonomy for Sustainable Finance – its classification system for defining and classifying environmentally sustainable economic activities in order to mobilize capital to these areas – with proposals to expand the Taxonomy to include transition activities as well as new sectors and activities. The new proposals follow the publication in May 2024 by the HKMA of its initial Taxonomy.

New Zealand - FMA opens consultation on ethical investment disclosure guidance
24 September 2025
New Zealand’s Financial Markets Authority (FMA) has launched a consultation on updated guidance for disclosing “ethical” investment characteristics, with feedback open until 7 November 2025. The draft guidance aims to clarify issuer obligations around clear, non-misleading disclosures and fair dealing in marketing and product documents, and replaces earlier frameworks including the “Integrated Financial Products” terminology.
The move reflects a regulatory push to guard against greenwashing, strengthen investor trust, and improve consistency in ethical finance across the market.

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