Summary

The United Nations Sustainable Stock Exchanges (SSE) initiative hosted a webinar meeting of the SSE Climate Disclosure Advisory Group to discuss how to support stock exchanges in providing guidance to issuers on climate disclosure. The meeting brought together exchanges, regulators, and investors in order to review the zero draft of a guidance. The document will assist exchanges in developing best practice reporting guidance for issuers to ensure globally consistent disclosures incorporating the recommendations from the FSB Task Force on Climate-Related Financial Disclosures (TCFD).

The SSE held two webinars to accommodate the many time zones of all members of the Advisory Group. In total there were 50 participants joining from 25 countries around the world, including representatives of 20 exchanges. 

The discussions were moderated by London Stock Exchange and Johannesburg Stock Exchange, the Co-Chairs of the SSE Climate Disclosure Advisory Group, who walked readers through the zero draft and facilitated lively discussions among the group about how the paper should further develop. The Advisory Group highlighted the importance of the SSE project for assisting exchanges by informing broader international discussions about best practices in implementing the TCFD recommendations. 

Speakers on the calls included representatives from: ASX, Bloomberg, Dubai Financial Market, GRI, HKX, Impax Asset Management, Nasdaq, NSE, PRI, SASB, Shenzhen Stock Exchange, TMX Group.

Next Steps 

Based on the inputs of the Advisory Group, both during the meeting and in subsequent written comments, the SSE will produce another iteration for comment to be circulated to the Advisory Group in Q4 2020. Following that, we will have one more final comment period in Q1 2021 before we finalize the document and publish it in Q2 2021 (exact date TBC). 

Who’s in the Advisory Group?

Besides the chairs, the London Stock Exchange and Johannesburg Stock Exchange, the SSE Climate Disclosure Advisory Group includes representatives from the following organizations: 

The webinar had 50 participants from 25 markets, including 20 exchanges.