(Eden Island, 18 April 2016) Today, Trop-X (Seychelles) Limited, the Seychelles’ licensed securities exchange has made a public commitment to the sustainability and transparency of capital markets in Seychelles by joining the UN’s Sustainable Stock Exchanges (SSE) initiative. Trop-X joining the SSE comes at an opportune time as the Government of Seychelles focuses on the development of a “Blue Economy Strategy” and the exchange finalizes the revamp of its listing framework.
In addition to joining the SSE, Trop-X also announced that it is joining the SSE’s global campaign for stock exchanges to provide guidance to companies on environmental, social and governance (ESG) issues. Trop-X now joins 22 other exchanges from around the world that have so far committed to produce guidance on ESG reporting for their listed companies by the end of 2016. In Seychelles, Trop-X plans to incorporate this guidance into their listing requirements.
Trop-X sees the role of a stock exchange as going beyond connecting issuers and investors, as capital markets can also bring other positive benefits to an economy and society as a whole. Drawing on the increase in investors’ appetite for sustainable bonds, the current focus of the Government of Seychelles is on “blue bonds” as a way to fund the development of sustainable fisheries as indicated by the Minister responsible for Finance in an interview on the 25th January 2016.
Fisheries are a main pillar of Seychelles’ economy and the sale of the blue bonds will be linked to a fisheries management plan. This is part of a wider initiative to address the impact of climate change by providing investment options for investors who want to show that their investment is making a difference.
“Trop-x is pleased to join the Sustainable Stock Exchanges initiative of the United Nations. Promoting responsible and sustainable growth through promotion of enhanced environmental, social and governance reporting in the capital markets is not only a good cause but also a wise business decision given the increasing pool of global investors with mandates for sustainable investment. Trop-X looks forward to working with and learning from our fellow peers also participating in this great initiative,”said Trop-X Chief Executive Officer, Mr. Bobby Brantley Jr.
In joining the SSE Initiative, Trop-X will also be looking into launching a platform to raise funds for companies wishing to implement sustainable developments projects.
