The United Nations Sustainable Stock Exchanges (UN SSE) initiative has officially joined the Global Capacity Building Coalition (GCBC), marking a significant step in its commitment to advancing climate finance in emerging and developing economies. Launched alongside COP28, the GCBC’s goal is to increase the availability and effectiveness of climate finance technical assistance programs for financial institutions in emerging markets and developing economies.
At the launch of the coalition, António Guterres, United Nations Secretary-General said: “The fight against climate chaos depends on cooperation, collaboration, and capital. This welcome initiative brings these vital ingredients together. We must unite around the priorities of developing countries, to get finance where it is needed and power a surge in climate action. The lives and livelihoods of people around the world depend on it.”
In welcoming UN SSE to the Coalition, Mary Schapiro, Chair of the GCBC, expressed enthusiasm for the initiative’s potential contributions: “I am delighted to welcome the United Nations Sustainable Stock Exchanges initiative to membership. I very much look forward to working with you […], to catalyse and scale capacity-building to unlock climate finance in emerging and developing economies more generally.”
“We are delighted to join the Global Capacity Building Organization and collaborate with development partners to combat the climate crisis,” said Anthony Miller, Chief Coordinator, UN SSE. “Stock exchanges are often on the front line of capacity building and market education for issuers and investors. The UN SSE is proud to work with our over 130 Partner Exchanges to provide the latest guidance and training to help accelerate climate disclosure, climate finance and the transition to net zero economies.”
As part of its role in the GCBC, UN SSE will engage in various activities, including the sharing of high-quality capacity-building materials created for the SSE Academy, sharing insights on climate finance, and participating in key events such as the annual Global Capacity Building Convention.
UN SSE’s participation in the GCBC underscores its ongoing commitment to providing high-quality capacity building free of charge and fostering collaboration to unlock climate finance solutions globally. Since its launch in 2009 by the UN Secretary General, the UN SSE has produced over 30 normative guidance and analytical publications and maintains 6 online databases including the most comprehensive global database of stock exchange sustainability activities. It has convened more than 100 high-level events featuring UN Secretary Generals, Ministers, Security Market Regulators, CEOs of stock exchanges and other high-level stakeholders. The SSE was named by Forbes magazine as one of the "World’s Best Sustainability Ideas".
The SSE Academy, launched in 2021, delivered training to over 30,000 market participants in its first three years and continues to deliver training at the rate of approximately 10,000 participants per year. The UN SSE initiative training program on climate disclosures won the Climate Leadership Award at the 2023 Finance for the Future Awards. The Judges for the award observed that “The UN SSE initiative continues to deliver one of the largest global education programmes on climate risk disclosures, convening organisations and stock exchanges to build knowledge in both established and emerging markets.”
Tiffany Grabski, Head of SSE Academy, said: ""Joining the Global Capacity Building Coalition represents a pivotal opportunity for the SSE Academy to amplify our impact. By collaborating with like-minded partners, we can expand our reach, enhance our training offerings, and equip market participants with the knowledge and tools needed to drive climate finance solutions. We are excited to contribute to this global effort and to further our mission of empowering markets to lead in climate disclosure and action.
The GCBC will launch its beta digital platform during New York Climate Week on 24 September, followed by an event for Founding and new Supporter Members on 25 September, where UN SSE will be formally introduced as a new member.
