Sustainable Stock Exchanges – Scaling up Climate-related Financial Disclosure

16 Nov, 2020

For more information, please contact the SSE team.

In the context of this year’s London Climate Action week, representatives from the London Stock Exchange Group (LSEG) , Johannesburg Stock Exchange (JSE), Climate Disclosure Standards Board (CDSB),  and the United Nations Sustainable Stock Exchanges (SSE) initiative discussed the SSE’s upcoming guidance on climate-related disclosure and stronger collaboration between SSE and CDSB on capacity building. The online event, co-organized by the CDSB and the SSE, was moderated by Steve Waygood of Aviva Investors and a member of the FSB’s Task Force on Climate Related Financial Disclosures (TCFD). It took place on 16 November at 0900 New York/1400 London/ 1500 Geneva.


In July 2020, the SSE initiative was called on by Mark Carney, the UN Special Envoy for Climate Action and Finance, to launch a new workstream to support exchanges in promoting climate disclosure. The goal is to assist stock exchanges in developing best practice reporting guidance for issuers to ensure globally consistent disclosures incorporating the recommendations from the FSB TCFD. The SSE’s Climate Disclosure Advisory Group is Co-Chaired by the London Stock Exchange Group (LSEG) and Johannesburg Stock Exchange (JSE).



During the online event, speakers considered recent and upcoming announcements impacting climate disclosure globally and the resources and tools being made available to support markets in their efforts to implement climate disclosure standards. The lively Q&A session provided participants with the opportunity to raise issues and address speakers directly.

The CDSB and SSE also used the occasion to announce an exchange of letters that formalised the existing collaboration and deep relationship between the two organisations. The representatives of CDSB and SSE stressed that the focus of their future work would be on providing technical assistance and training to exchanges to help them assist issuers in the adoption and implementation of the TCFD’s recommendations. 

Exchanges play a crucial role in promoting sustainable development through the issuance of ESG and climate disclosure guidance documents. In 2015, the SSE first launched its ESG model guidance to help exchanges guide issuers. Since then, 53% of exchanges have released an ESG reporting guidance document, half of which refer to the TCFD. In order to track the progress, the SSE maintains a comprehensive ESG guidance database.

















About the SSE Climate Disclosure Advisory Group 

More details about the new SSE workstream here. For information about the SSE Climate Disclosure Advisory Group first meeting and including special addresses from Mr. Mark Carney, UN Special Envoy on Climate and Finance, and the CEOs of London Stock Exchange and Johannesburg Stock Exchange, the Co-Chairs of the SSE Climate Disclosure Advisory Group click here.



About the London Climate Action Week

London Climate Action Week is an annual event bringing together a world leading array of climate professionals and communities. The event creates space for London’s world leading array of climate professionals to come together to find solutions to climate change.



About the Climate Disclosure Standards Board

The CDSB is an international consortium of business and environmental NGOs, committed to advancing and aligning the global mainstream corporate reporting model to equate natural capital with financial capital. By offering companies a framework for reporting environmental information with the same rigour as financial information, the CDSB helps them to provide investors with decision-useful environmental information via the mainstream corporate report, enhancing the efficient allocation of capital.

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.