This month includes news from BSE, CME, CSE, NYSE, SIX, 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
SSE upcoming events part of the 7th UNCTAD World Investment Forum (WIF):
SSE Global Dialogue 202119 October 2021
The Global Dialogue will take place as a discussion among members of the SSE’s Independent Advisory Committee, composed of capital market leaders whose role is to provide the SSE Governing Board advice and feedback on the work of the Partnership Programme. This high-level gathering will identify key global challenges in sustainable finance and the role exchanges can play in addressing them.
The Role of Derivatives Exchanges in Sustainable Development
19 October 2021This multi-stakeholder session organized in collaboration with the World Federation of Exchanges (WFE) will bring together derivatives exchanges and related experts to discuss current practices in incorporating sustainability considerations into derivatives.
Sustainability Bonds: innovative tools for financing the SDGs
20 October 2021This multi-stakeholder session will bring together key bond market players such as stock exchanges, securities regulators, issuers and standards bodies to address opportunities and challenges for further boosting the growth of the emerging SDG bonds sector. The session organized in collaboration with the Climate Bonds Initiative will support the continued growth of domestic, regional and global green and sustainability bond markets.
Securities market regulators and sustainable investment20 October 2021Organized in partnership with IOSCO and its Growth and Emerging Markets Committee (GEMC), this regulatory workshop is an opportunity to take stock of the most recent developments in the area of sustainable finance and to assist GEMC jurisdictions in initiating implementation of global standards in this area.
Gender Equality in Listed Corporations - CEO roundtable and expert discussion
20 October 2021Join the women leading some of the world’s most influential exchanges and market infrastructures in this CEO Roundtable on gender equality . The one hour discussion will explore the role of women in senior leadership positions, and reflect on lessons learnt and emergent themes. This session will be followed by a second panel of policy and practice experts from exchanges and organisations active on this topic. Stock exchanges are uniquely positioned to drive change t in a way few other actors can and as employers in their own right, to lead by example. This session is organized in collaboration with the International Finance Corporation (IFC) and will discuss initiatives underway, what’s worked and what hasn’t and where the opportunities are to really make a difference.
Corporate Governance and Sustainable Development
21 October 2021This session organized in collaboration with International Corporate Governance Network (ICGN) will cover recent developments, including the integration of sustainability issues into the ICGN’s Global Governance Principles during its recent update. The feature discussion will bring together key stakeholders in the area of corporate governance including regulators, issuers and investors.
TCFD implementation and climate action
21 October 2021A newly published UN SSE Model Guidance on TCFD adoption, assisting exchanges’ markets to implement the TCFD recommendations, as well as a new Action Plan, showing how exchanges can lead by example to make markets more climate resilient. Those topics are going to be the foundation for the session’s discussion round. This session is organized in collaboration with the Climate Disclosure Standards Board (CDSB) and the International Finance Corporation (IFC).
Green Islamic Finance (Green Sukuks)21 October 2021This session will feature a discussion with stock exchanges that are innovating in the area of green Islamic finance, investors and standard setters in the area. The session will chart the progress to date and seek to provide insight on the future evolution of this space.
Sustainable Investment and Natural Capital
21 October 2021This session organized in collaboration with Planet Tracker will bring together key players in the research and reporting efforts on natural capital to discuss the role of investors, issues and exchanges and explore how exchanges may be able to raise awareness of these risks and opportunities in their own markets.
SSE climate disclosure training and net zero alliance work
UN SSE, CDSB & IFC to provide free climate disclosure training to exchanges and their issuersFrom 1st of September 2021 to 31st of March 2022The SSE is ramping up efforts to provide climate disclosure training to exchanges' markets to help them implement the actions suggested in the model guidance and the action plan. In order to provide markets with high-quality training on climate disclosure and provide an overview of the Task Force on Climate-related Financial Disclosures (TCFD) recommendations, the UN SSE together with IFC and CDSB, are creating a multifaceted course for exchanges to distribute to their markets, free of charge. Past sessions training and upcoming sessions on SSE’s Events page, Contact: [email protected]
Net Zero Alliance for Exchanges: Launch of New Service Providers Alliance22 September 2021
The new Net Zero Financial Service Providers Alliance (NZFSPA), part of the broader Glasgow Financial Alliance for Net Zero (GFANZ) that has been led by the UN Special Envoy on Climate Action and Finance, Mark Carney. This new alliance is open to exchanges and other financial organizations who have committed to aligning their relevant services and products to achieving a net zero economy by 2050.
EXCHANGE NEWS
The JSE Sustainability Showcase
Upcoming event: 12 - 13 October 2021
The JSE Sustainability Showcase in accordance with IFC explores how investors, companies and other stakeholders are aligning with the SDGs, the ongoing development of climate change risk and opportunity, and transition finance.
Boursa Kuwait launches new ESG reporting guide09 September 2021
Boursa Kuwait has launched a new ESG Reporting Guide to support listed companies on Environmental, Social, and Governance (ESG) implementation and reporting. Solidifying its position, the Boursa Kuwait ESG guide raises awareness and drives the embrace of Corporate Sustainability in the local capital market.
CSE has organized a two-days’ Climate Disclosure Training Program
14 September 2021
Chittagong Stock Exchange (CSE) has organized a two days’ Climate Disclosure Training Program for the issuers and other stakeholders in collaboration with the United Nations Sustainable Stock Exchanges Initiative (UN SSE), International Finance Corporation (IFC) and Climate Disclosure Standards Board (CDSB).
NYSE’s new investment vehicle ‘Natural Asset Companies’ to Power a Sustainable Future14 September 2021
The New York Stock Exchange unveiled a partnership two years in the making with Intrinsic Exchange Group to open up investment opportunities in what IEG calls “nature’s economy”. And to encourage the capital formation necessary to preserve the natural asset the NYSE has developed a new kind of listing vehicle that will be called a natural asset company (NAC).
CME Group Launches First-Ever Sustainable Derivatives Clearing Service21 September 2021
CME Group has announced the launch of the derivatives industry’s first-ever Sustainable Clearing service to help market participants track and report on how their hedging activities are advancing their sustainability goals.
ASEAN Exchanges to adopt sustainability program23 September 2021
The ASEAN Exchanges is working on a potential sustainability program to be adopted by its seven-member exchanges, ASEAN aims to promote sustainable practices in the region through cross-border collaboration.
BSE Leading by Example on Sustainability Reporting29 September 2021
The Budapest Stock Exchange (BSE) aims to promote “environmentally-friendly” finance through improving the sustainability reporting and environmental, social, and governance (ESG) data sharing of listed companies.
REGULATOR AND STANDARD SETTER NEWS
The EU’s green bond plan charts a path forward for climate finance23 September 2021
The effort to define “green” stretches across an ever-expanding financial landscape of products that purport to help address climate change. While the EU passed legislation this spring setting the groundwork for what’s required of asset managers running green funds, a sustainable finance proposal announced in July is now expected to extend legislation to fixed income.
FSC Talks to discuss Environmental, Social and Corporate Governance26 September 2021
The Financial Sector Conference Talks series highlights the collective effort in implementing SDG-compatible finance, transforming financial institutions toward creating real long-term value with ESG practices, Saudi government officials will attend the event.
ESG INDICES AND PRODUCTS
Record Demand for World Bank USD 5 Billion 7-Year Sustainable Development Bond02 September 2021
The World Bank priced a USD 5 billion 7-year Sustainable Development Bond maturing in September 2028. The deal attracted nearly 150 orders and an orderbook reaching over USD 10.2 billion, a record for the World Bank in the maturity.
Fitch Group Announces Creation of Sustainable Fitch and Launches ESG Ratings Products15 September 2021
Fitch Group announced the launch of Sustainable Fitch, which will offer a comprehensive range of ESG Ratings products at both an entity and instrument level for all asset classes globally.
World Bank Launches Initiative to Issue USD 10 Billion in Sustainable Development Bonds23 September 2021
The World Bank is raising awareness for the urgency to integrate climate change considerations in all activities and decisions. As part of a plan to issue USD 10 billion in Sustainable Development Bonds, the World Bank will engage with investors to highlight the World Bank’s approach to mainstreaming climate action.
Nasdaq: Clients Asking About ESG More Often29 September 2021
Recent research from Aegon, a global asset manager, revealed that 41% of advisors are being asked more often by clients about ESG investing. Climate change issues as well as ESG in general are “featuring strongly” as important topics for investors.
MANAGEMENT NEWS
ICGN Announces CalPERS as Board Chair and approves three new Board Governors at AGM 09 September 2021
The International Corporate Governance Network (ICGN), with Members responsible for assets of $59 trillion, announced the appointment of Henry Jones, President of the Board of CalPERS, as the incoming Chair of the ICGN Board of Governors. At the AGM ICGN Members also approved three new ICGN Board Members.
Jos Dijsselhof, CEO SIX, elected as the Chairman of the Working Committee of the WFE09 September 2021
Jos Dijsselhof, CEO SIX, has been elected as the new Chairman of the WFE Working Committee at the Annual Meeting of the World Federation of Exchanges (WFE). The vote was unanimous and his period of office is two years.
Olga Cantillo, EVP & CEO Latinex, to become the first female president of FIAB (spanish article)16 September 2021
The Latin American Stock Exchange (Latinex) announced that Olga Cantillo, executive VP and general manager, has been appointed president of the Ibero-American Federation of Stock Exchanges (FIAB) for the period 2021-2023. Ms Cantillo is the first woman to reach the position of president in the history of this Federation.
Crédit Agricole CIB Appoints Romina Reversi as Head of Sustainable Banking for the Americas16 September 2021
Crédit Agricole CIB announced the appointment of Romina Reversi as Head of Sustainable Banking for the Americas. In this role, Ms Reversi will develop Crédit Agricole CIB’s sustainable finance footprint and product range across the Americas.
SGX Head of Sustainable Finance joins TNFD to tackle nature-related risks30 September 2021
Ms Herry Cho, Head of Sustainability and Sustainable Finance of Singapore Exchange (SGX) have been selected to serve for two years as Member of the Taskforce on Nature-related Financial Disclosures (TNFD).
RESEARCH
Women in Boardroom Count Toward Companies’ Borrowing Costs03 September 2021
Companies around the world are increasingly willing to link their borrowing costs to gender equality. Sales of loans with terms tied to gender goals have surged to $19 billion so far this year, according to BloombergNEF data. Banks arranging loans are expecting more such transactions on the back of increased inquiries about gender metrics.
Moody's: Sukuk activity will maintain its long-term growth trend07 September 2021
Moody's Research expects the sukuk market to maintain its long-term growth trend, backed by new entrants, low penetration and innovative new Islamic products, such as green and sustainable sukuk.
