September News Highlights

September News Highlights

6 October 2023

This month includes news from BME, BVL, Guayaquil Stock Exchange, Latinex, 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 Events at the UNCTAD World Investment Forum 16 October 2023 This year, the WIF 8th edition will take place in Abu Dhabi National Exhibition Centre (ADNEC) in Abu Dhabi, United Arab Emirates (UAE), from 16 to 20 October. Over 100 speakers are already confirmed for the SSE sessions at the Forum. During the forum, the SSE initiative, in collaboration with its partners, will hold more than a dozen sessions including: UN SSE hosts Shenzhen Stock Exchange at Geneva Headquarters 4 September 2023 On Monday 4th of September, the Shenzhen Stock Exchange visited the UN Headquarters in Geneva, Switzerland and met with the UN Sustainable Stock Exchanges team to discuss current work on sustainable finance and future collaborations. The discussions covered the full range of consensus building, research and capacity building activities conducted by the SSE. FIAB at 50 – Highlighting members sustainability activities and strategic collaboration with UN SSE 26 September 2023 On the occasion of the 50th anniversary of the Federation of Ibero American Stock Exchanges (FIAB) the regional association shared findings of their members’ progress on enhancing sustainability and transparency in their markets. To commemorate the progress, the SSE joined the anniversary event to speak on a panel discussing how FIAB members can continue to enhance sustainability in their markets. LATINEX, an SSE Partner Exchange, hosted the event which had over 1,000 participants from more than 25 countries.   EXCHANGE NEWS NGX RegCo CEO Encourages Nigerian Banks To Embrace ESG For Global Competitiveness 6 September 2023 Following Nigeria's commitment to adopt the International Sustainability Standards Board (ISSB) standards, Ms. Tinuade Awe, the Chief Executive Officer of NGX Regulation Limited (NGX RegCo), emphasized the importance of Nigerian banks swiftly integrating environmental, social, and governance (ESG) principles into their business strategies. Awe asserted that doing so would provide them with a competitive edge in the global market. SGX: Regulator’s Column: Developing And Executing A Credible Climate Transition Plan - Rising Expectations On Transition Plans 8 September 2023 The urgent need for climate action has come to the forefront of public consciousness. Globally, governments, companies and organisations are stepping up in response. More than 100 governments representing at least 90% of global GDP have committed to net-zero decarbonisation targets [1]. Singapore has likewise committed to net-zero emissions by 2050. Policy and regulatory changes, such as the implementation of carbon taxes, have followed these commitments. For companies, the incoming impact of public policy and of climate change itself means they will need to transition their business activities towards a low-carbon economy. Oman issues ESG reporting guidelines for listed companies 11 September 2023 Muscat – The Muscat Stock Exchange (MSX) issued guidelines on Monday for listed companies to report their environmental, social, and governance (ESG) performance on the electronic platform of the Omani bourse. BME released an updated version of the Guide on sustainability reporting for listed companies in Spanish 12 September 2023 BME, as an operator of the Spanish stock exchange, focuses its management on obtaining an optimal return on all its assets in a responsible and sustainable manner. BME's vision of sustainability is based on our commitment to companies, investors and other stakeholders in the securities markets, including society in general. BVL holds an online event on ESG impacts on companies 19 September 2023 We invite you to the seventh edition of PERU: ESG, the annual event of the Responsible Investment Program (PRI). This edition will have as its main theme "The impact of ESG variables on companies", and it will be the first time that not only key players from the financial sector will participate, but also some issuers will be present. CEO of Latinex, Olga Cantillo, participated in the panel entitled "ESG Factors: How they impact and can benefit emerging markets" 27 September 2023 The event was held during the VIII Corporate Governance Congress, held by the Instituto de Gobierno Corporativo de Panamá on 27 and 28 September. It brought together experts, business leaders and professionals who addressed issues related to the challenges and opportunities of corporate governance. Moscow Exchange Adopts Strategy 2028 And Updates Dividend Policy 28 September 2023 The development of capital markets is the most important priority of the new strategy. We aim to expand the list of instruments, including ESG products, and to improve their liquidity. The company will focus on working with issuers to guide and accompany them in raising capital market financing via equity, bond and DFA offerings, including ones at OTC and investment platforms. REGULATORS AND STANDARD SETTER NEWS High-Quality Mandatory Disclosure (HQMD): CDP’s Principles 5 September 2023 Ahead of the G20 summit, CDP launched their Principles for High-Quality Mandatory Disclosure (HQMD). IFC contributed to and supports the document. Martine Valcin of IFC - International Finance Corporation, delivered the opening remarks for “Towards High-Quality Mandatory Environmental Disclosure Across the G20,” highlighting the pivotal role of mandatory environmental disclosure in sustainable economies, the need for high-quality and comparable ESG data, and capacity-building of companies and countries. Global Green Bond Initiative Strengthened By A New Strategic Partnership To Foster Green Capital Markets 6 September 2023 The coalition of development finance institutions and multilateral organisations making up the Global Green Bond Initiative (the European Investment Bank (EIB), the European Bank for Reconstruction and Development (EBRD), Italy’s Cassa Depositi e Prestiti, the Spanish Agency for International Development Cooperation (AECID), Germany’s KfW development bank, PROPARCO of the AFD Group, acting as a consortium of European development finance institutions and the Green Climate Fund (GCF)), today launched a strategic partnership with the Inter-American Development Bank (IDB) and IDB Invest to cooperate on technical assistance for promoting green bond markets in Latin America and the Caribbean, at an event attended by representatives of the European Commission. The declaration was signed in Cartagena, Colombia, at the Finance in Common Summit, held from 4 to 6 September. New guidance on blue bonds to help unlock finance for a sustainable ocean economy 6 September 2023 The International Finance Corporation (IFC), a member of the World Bank Group, together with the International Capital Market Association (ICMA), United Nations Global Compact (UN Global Compact), United Nations Environment Programme Finance Initiative (UNEP FI), and the Asian Development Bank (ADB) have developed a global practitioner’s guide for bonds to finance the sustainable blue economy. NGFS publishes Conceptual Framework for Nature-related Financial Risks at launch event in Paris 7 September 2023 The Network for Greening the Financial System (NGFS) published today the beta version of its Conceptual Framework for nature-related financial risks to guide policies and action by central banks and financial supervisors.The Framework seeks to create a shared science-based understanding of, and common language for, these nature-related financial risks to help central banks and financial supervisors navigate the complexities and challenges associated with assessing and addressing these risks. The aim is to provide greater clarity on the meaning of key concepts and the way these interrelate, and set out a principle-based approach to help operationalise that conceptual understanding. SBTI: Corporate climate action gets a boost with upgrade to target validation and standard setting 13 September 2023 Following the hottest three months ever recorded, the need for urgent, robust climate action has never been clearer, prompting the Science Based Targets initiative (SBTi) to separate out its validation services division to further boost credibility and integrity for businesses and financial institutions setting science-based targets. The transformation comes as the SBTi announces its new Chair and two new independent Trustees. Advancing UN Sustainable Development Goals through IFC’s Environmental, Social, and Governance Standards 15 September 2023 Developing countries face an annual financing deficit of $4.3 trillion to achieve the Sustainable Development Goals (SDGs) by 2030. The private sector plays a key role in mobilizing resources for sustainable solutions and building greater resilience. To date, limited attention has been given to how the private sector’s environmental, social, and governance (ESG) risk management practices can contribute to the realization of universal goals, such as the SDGs. To address this gap, IFC, with support from the SDG Partnership Fund, has developed a Private Sector Guide and Dataset to assist the private sector in leveraging ESG risk management approaches to contribute to achieving the SDGs. The Taskforce on Nature-related Financial Disclosures (TNFD) has developed a set of disclosure recommendations and guidance for organisations to report and act on evolving nature-related dependencies, impacts, risks and opportunities.  18 September 2023 The recommendations and guidance will enable business and finance to integrate nature into decision making, and ultimately support a shift in global financial flows away from nature-negative outcomes and toward nature-positive outcomes. EFRAG congratulates the Taskforce on Nature-related Financial Disclosures (TNFD) for its recommendations for Nature-related risk management and disclosure 20 September 2023 ​EFRAG congratulates the Taskforce on Nature-related Financial Disclosures for the release of the Recommendations for Nature-Related Risk Management and Disclosure, launched on 18 September during the New York Climate Week 2023. We welcome the TFND Recommendations as the groundbreaking framework that enables companies to assess, disclose and manage nature-related risks and impacts and which will support a more relevant and comparable reporting on nature-related risks and impacts by businesses and financial institutions worldwide. IFC launched the Beyond the Balance Sheet online platform 21 September 2023 The platform is a practical one-stop shop to guide companies' sustainability reporting journey. It allows companies, banks, regulators, and stock exchanges to explore the business case, best practices, regional and industry examples, and more on sustainability, climate disclosure, and communication. The platform helps navigate and understand the evolving landscape of sustainability disclosure standards and frameworks. Setting the stage for action on climate finance: Unctad’s World Investment Forum is a vital milestone in the run-up to Cop28.  22 September 2023 The United Nations Conference on Trade and Development’s (Unctad) World Investment Forum, running from 16-20 October in Abu Dhabi, has become an important milestone on the road to December’s Cop28, giving participants the opportunity to prepare for the upcoming climate negotiations. Finance will be a key aspect of the discussions at Cop, with many government delegates and financial market participants joining the World Investment Forum, both to take stock of progress made so far and to accelerate as much as possible. SDG Investment Forum during the 78th UN General Assembly at the New York Stock Exchange 27 September 2023 The UN Global Compact CFO Coalition for the SDGs, GISD, PRI and UNEP FI will host an SDG Investment Forum during the UN 78th General Assembly and will bring together high-level representatives from companies, banks, financial institutions and international organizations, including CFOs, CIOs and other Executives. This September the forum will focus on raising the momentum and credibility of companies’ investment and financing for the SDGs. It will showcase strategic partnerships with GISD, PRI, UNEP-FI, SBTi, CBI and other key actors in the ecosystem for sustainable finance. ESMA Work Programme 2024: Focus On Digital Change And The Green Transition 28 September 2023 The European Securities and Markets Authority (ESMA), the EU’s financial market regulator and supervisor, today publishes its work programme for 2024. Monetary Authority Of Singapore’s Sustainable Finance Advisory Panel Discuss Possible Financing Mechanisms To Better Support Decarbonisation Of The Energy, Aviation And Maritime Transport Sectors 28 September 2023 The Monetary Authority of Singapore’s (MAS) Sustainable Finance Advisory Panel (SFAP) met on 26 September and discussed possible financing mechanisms to accelerate the phase-out of coal-fired power plants in Asia and support decarbonisation of the hard-to-abate aviation and maritime transport sectors. The SFAP also discussed how private capital could be better mobilised to finance the region’s climate adaptation needs. Safeguarding Forests: Climate Bonds Initiative Unveils Guidance EU Regulation On Deforestation-Free Products - A Roadmap For Sustainable Supply Chains 28 September 2023 Climate Bonds Initiative today released pivotal guidance on the European Union's Regulation on Deforestation-Free Products. This comprehensive guide equips corporates and financial institutions to meet and exceed the EUDR’s requirements, advancing global sustainability standards. GENDER EQUALITY The world is failing girls and women, according to new UN report 6 September 2023 New York — Despite global efforts, the world is falling short of achieving gender equality. This year's edition of the UN Women and UN DESA “Progress on the Sustainable Development Goals: The gender snapshot 2023”, launched today, paints a worrisome picture halfway through the 2030 Agenda for Sustainable Development. BME Partners With Inspiring Girls And BlackRock To Promote Financial Literacy 18 September 2023 Braindex, BME's 100% online financial training platform, announced today at the Stock Exchange Palace in Madrid a collaboration agreement with the Inspiring Girls Foundation and BlackRock, with which it expands its educational offer with five new free courses to promote the dissemination of financial literacy among young women and girls. NGX, UN Women Partner To Promote Gender Bonds In Nigeria 19 September 2023 Nigerian Exchange Limited (NGX) and United Nations Women (UN Women) will partner on the integration of gender bonds and other gender-themed sustainable financing mechanisms as strategic instruments to drive gender equality and sustainable development in Nigeria.

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.