August 2015 Sustainable Stock Exchange Highlights

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CONSULTATIONS AND DEADLINES

Bursa Malaysia Consultation on Sustainability Reporting Requirements
Comments due September 4, 2015
With the objective of improving the quality of ESG performance and reporting by listed issuers, the exchange is seeking feedback on its requirement for listed issuers to submit an annual materiality-based “Sustainability Statement” and wants comments on its amended “Sustainability Reporting Guide,” which is intended to assist issuers in developing their statements.

Hong Kong Exchange (HKEx) Consultation on ESG Disclosure Requirements
Comments due September 18, 2015
As part of its move to a “comply or explain” disclosure regime, HKEx is seeking feedback on proposed amendments to its “ESG Guide.” The amendments aim to strengthen ESG listing rules and propose a number of mandatory environmental indicators to report.

International Corporate Governance Network (ICGN) Consultation on Executive Remuneration-Related Guidance
Comments due September 24, 2015
ICGN welcomes member feedback on questions relating to its “Guidance on Non-executive Director Remuneration” and “ICGN Executive Remuneration.”

Monetary Authority of Singapore Consultation on Fine Increases
Comments due September 23, 2015
The regulator welcomes comments on its proposed changes to the Securities and Futures Act, which will strengthen the enforcement regime and vastly increase the amount of fines the regulator can levy for corporate misconduct.

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WEBINARS AND EVENTS

Romania Investor Days in Bucharest
September 24-25, 2015
Bucharest Stock Exchange will organize the second edition of the Romania Investor Days in Bucharest. The event aims to bring together major companies listed on the Bucharest Stock Exchange together with investors, in a series of 1-on-1 meetings.

United Nations Sustainable Development Summit
September 25 – 27, 2015
Held in New York City and convened as a high-level plenary meeting of the General Assembly, the intention of the summit is to formally adopt a post-2015 agenda to advance the Sustainable Development Goals, a component of which is for corporations to report their ESG performance, as explained and advocated for by the Friends of Paragraph 47.

World Federation of Exchanges (WFE) Annual Meeting
October 19 – 21, 2015
The 55th WFE General Assembly and Annual Meeting will take place in Doha, Qatar. For more information, contact: wfe@world-exchanges.org.

Italian Corporate Governance Committee Meeting
December 3 – 4, 2015
The Committee is meeting to approve the new edition of the Corporate Governance Code, which includes a number of board accountability and whistleblower provisions and CSR principles that issuers must implement by the end of the 2016 fiscal year.

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GENERAL NEWS

Indian Bourse Leads by Example in Harnessing Wind Energy
August 25, 2015
India’s National Stock Exchange’s investment in a 6.25 megawatt wind power project is a testament to similar efforts by Indian corporations towards mitigating the effects of climate change and helping to ensure energy security.

Johannesburg Stock Exchange (JSE) Recognized for Excellence in Integrated Reporting
August 19, 2015
The JSE’s efforts to reinforce the principles of good governance in its own and its stakeholder’s best interests were rewarded, as it was recognized for “quality of governance reporting” in Ernst & Young’s Excellence in Integrated Reporting Awards.

73% of Investors Surveyed Take ESG Issues Into Consideration, Finds CFA Institute Poll
August 17, 2015
This CFA Institute survey, in partnership with the Investor Responsibility Research Center Institute, also found that 50% of those surveyed globally incorporated environmental issues into the investment process, while 49% included social issues. The Survey was launched in June, with a webinar for investors in August.

Nigerian Stock Exchange Honored for Promoting Corporate Disclosure
August 11, 2015
The 2015 Award for Promoting Best Practice Reporting and Corporate Disclosure, from the Lagos Chamber of Commerce and Industry, recognizes institutions that have benefitted society through best business practices, growth through innovation, and business sustainability.

US CEO-Worker Pay Ratio Disclosure Mandated
August 5, 2015
According to new rules adopted by the US Securities and Exchange Commission, companies must provide investors with the ratio of the median pay of their workforce to the compensation of the CEO.

The Conference Board Makes a Business Case for Corporate Sustainability
July 31, 2015
This report reviews empirical analyses of the ROI of ESG initiatives, outlines five pillars of the business case for corporate sustainability, and discusses why correlations between sustainability performance and market performance are not agreed upon by all academics.

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ESG INDICES AND PRODUCTS

New Eurozone ETF Includes Only the Largest Top Sustainability Performers
August 19, 2015
Tracking the Solactive Eurozone Sustainability Index, the Deka Euro Oekom Sustainability Electronically Traded Fund invests in the 30 largest issuers that meet stringent environmental and social metrics set out by Oekom Research.

World’s First Green Masala Bond Listed by the London Stock Exchange
August 19, 2015
Issued by the International Finance Corporation, the first green bond to be issued in the offshore rupee markets raised 3.15 billion rupees; the proceeds of the bond will be invested in renewable energy and energy efficiency projects.

Is the Dow Jones Sustainability Index Immaterial?
July 30, 2015
Harvard Business School research shows that firms which score well on the Sustainability Accounting Standards Board’s industry-material issues, while also minimizing reporting on broad-based sustainability issues, outperform benchmark equity indices, such as the DJSI, over the long term.

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MANAGEMENT NEWS

Indian Exchange Seeking Revitalization with New Leadership
August 12, 2015
The Calcutta Stock Exchange, which is currently under suspension, has begun a transformation process by searching for a new Managing Director and Chief Executive Officer.

Italian Exchange’s Chairman Steps Down
August 7, 2015
Massimo Tononi is standing down as both chairman of Borsa Italiana and as a non-executive director of London Stock Exchange Group.

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This is a monthly newsletter courtesy of Ceres’ Investor Network on Climate Risk and the UN Sustainable Stock Exchanges Initiative. To subscribe, click here
Send exchange-related ESG news to Tracey Rembert, Director, Investor Initiative for Sustainable Exchanges: rembert@ceres.org 

 

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