SSE campaign to close the ESG guidance gap

“The UN’s Model Guidance and the collaborative efforts of investors… have the potential to trigger historic improvements in how global financial markets behave.” – Forbes 2015

The Goal
All stock exchanges that are members of the SSE or the World Federation of Exchanges (WFE) providing listed companies with guidance on sustainability reporting.

Progress

Committed Exchanges, Class of 2016

Exchange Date Committed Commitment Met
Norway – Oslo Børs Q1 2016  
Spain – Bolsas y Mercados Españoles Q1 2016  
Kazahkstan – Kazakhstan Stock Exchange Q1 2016  
Chile – Bolsa de Comercio de Santiago Q3 2015
Denmark – Nasdaq Copenhagen Q1 2016
Egypt – Egyptian Exchange Q3 2015
Estonia – Nasdaq Tallinn Q1 2016
Finland – Nasdaq Helsinki Q1 2016
Iceland – Nasdaq Iceland Q1 2016
Italy – Borsa Italiana (LSE Group) Q3 2015
Kenya – Nairobi Securities Exchange (NSE) Q1 2016
Latvia – Nasdaq Riga Q1 2016
Lithuania – Nasdaq Vilnius Q1 2016
Mexico – Bolsa Mexicana de Valores Q1 2016
Morocco – Bourse de Casablanca Q1 2016
Nigeria – Nigerian Stock Exchange Q3 2015
Qatar – Qatar Stock Exchange Q1 2016
Romania – Bucharest Stock Exchange Q3 2015
Seychelles – Trop-X Q2 2016
Sweden – Nasdaq Stockholm Q1 2016
UK – London Stock Exchange Q3 2015
Vietnam – Hanoi Stock Exchange Q3 2015
Vietnam – HoChiMinh Stock Exchange Q3 2015


Exchanges Providing Guidance Documents

Exchange Date Released Publication
Kazahkstan – Kazakhstan Stock Exchange 2016 МЕТОДИКА составления…
Spain – Bolsas y Mercados Españoles 2016 Voluntary Market…
Norway - Oslo Børs 2016 Guidance on the…
Brazil - BM&FBOVESPA 2016 Novo Valor Corporate…
Turkey – Borsa Istanbul 2015 Sustainability Directory…
Canada - TMX Group 2014 A Primer for Environmental…
Colombia - Bolsa de Volores de Colombia 2014 Guía a la inversión…
Germany - Deutsche Börse 2013 Communicating Sustainability…
Thailand - Stock Exchange of Thailand (SET) 2012 Guidelines for the preparation…
Australia - Australian Securities Exchange 2011 ESG Reporting Guide…
Hong Kong - Hong Kong Exchanges 2011 Environmental, Social and…
India – Bombay Stock Exchange 2011 National Voluntary Guidelines…
Singapore - Singapore Exchange 2011 Guide to Sustainability…
India - National Stock Exchange of India 2010 Corporate Governance…
China - Shanghai Stock Exchange 2008 Guidelines on Listed…
China - Shenzhen Stock Exchange 2006 Social Responsibility…
Malaysia - Bursa Malaysia 2006 Sustainability Reporting Guide
South Africa – Johannesburg Stock Exchange 2004 SRI Index Background…

Background

In September 2015 when the SSE launched its Model Guidance for exchanges, less than one third of stock exchanges around the world were providing guidance to issuers on reporting environmental, social and governance (ESG) information. This gap in guidance on ESG reporting leads to incomplete corporate information, creating a challenge for investors seeking a comprehensive view of a company’s material issues. The purpose of the Model Guidance compiled by the SSE is to help exchanges address this need by providing a model, or template, that exchanges can use to develop their own, custom guidance.

Based on the SSE Model Guidance, the World Federation of Exchanges has created a set of recommendations to its member exchanges on how to implement their own sustainability policies. The WFE Guidance & Recommendations identifies material ESG metrics which exchanges can incorporate into disclosure guidance to companies listed on their market. The metrics lay out 34 key performance indicators that are built off of the SSE guidance.

See how you can help close the guidance gap. Email info@SSEinitiative.org for more information. 

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