February 2015 Sustainable Stock Exchange Highlights

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SSE and Thai Stock Exchange host 2015 South East Asia Regional Dialogue
May 18 2015
The Sustainable Stock Exchanges Initiative (SSE) together with the Stock Exchange of Thailand (SET) will host the first Regional Dialogue in South East Asia on 18 May 2015 in Bangkok, Thailand. Agenda items include sessions on sustainability reporting as well as natural resources & investment risk management.

Qatar Stock Exchange to Host 2015 WFE General Assembly
October 19-21, 2015
The Qatar Stock Exchange will host the 55th World Federation of Exchanges (WFE) General Assembly and Annual Meeting.

AFE Annual Conference
April 22-23, 2015
The Bahrain Bourse will partner with Thompson Reuters to host the Arab Federation of Exchanges (AFE) Equities Summit 2015.

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CDSB Launches Natural Capital Mapping Tool
February 24, 2015
The Climate Disclosure Standards Board (CDSB)’s latest tool shows how widely-used natural capital reporting frameworks align with IFRS and its own CDSB Reporting Framework. The mapping exercise includes the most common sustainability reporting frameworks, plus items like the EU Non-financial Reporting Directive, Grenelle II, the German Sustainability Code, and the UK Companies Act.

UN Guiding Principles Reporting Framework Launches
February 24, 2015
The Guiding Principles Reporting Framework seeks to help companies better report on human rights performance. It was developed by the Human Rights Reporting and Assurance Frameworks Initiative, a collaboration between Shift and Mazars.

Sustainalytics Launches 10 For 2015 Report
February 19, 2015
The ESG research firm’s report, 10 for 2025 – Generating Value in a Fragile Market, explains how macroeconomic decisions relate to ESG trends. The report also predicts ways that ESG issues will impact the performance of 10 large companies in 2015.

NASDAQ’s Sandy Frucher Calls for Global Consensus on ESG Disclosure
February 18, 2015
In an interview, NASDAQ OMX Vice-Chairman Sandy Frucher spoke about the importance of corporate sustainability performance and disclosure to healthy markets, and emphasized the role and responsibility stock exchanges have to create fair and sustainable markets.

Zambian Directors’ Workshop Covers ESG Topics
February 17, 2015
Speaking at an Institute of Directors of Zambia (IoDZ) workshop, Zambia’s Minister of Commerce, Trade and Industry Margaret Mwanakatwe called for improved corporate governance to attract more investment, and IoDZ president Sherry Thole spoke about the importance of sustainable and integrated reporting.

SEBI to Profile Major Investors
February 15, 2015
The Indian capital markets regulator will analyze trading patterns of major investors to understand the impact of high frequency and high volume trades on the market. The study will be used to create a robust surveillance system and reduce systemic risk.

National Stock Exchange To Reopen
February 13, 2015
The National Stock Exchange, an electronic trading venue, will reopen as the 12th U.S. stock exchange, following regulatory approval of its sale from CBOE Holdings to National Stock Exchange Holdings.

Turkish Stock Exchange Prepares For IPO
February 13 2015
Borsa Istanbul’s initial public offering (IPO) is planned for 2015, and the exchange is attracting investors, including the European Bank of Reconstruction and Development. The IPO is a step towards Turkey’s planned emergence as a major international market.

FXPA Elects First Board Of Directors
February 13, 2015
The Foreign Exchange Professionals Association (FXPA) board includes investors and stock exchange managers. The board is chaired by Eric Busay, a Portfolio Manager with CalPERS. FXPA, which was founded in 2014, is an engagement and advocacy group targeting financial regulators and policymakers.

Investors Call for Adherence to Green Bond Market Principles
February 11, 2015
A group of two dozen investors, including Blackrock and PIMCO, has endorsed a Statement of Investor Expectations to clarify principles for the growing green bond market, such as third-party assurance of project benefits. The group was assembled by Ceres’ Investor Network on Climate Risk.

New European Environmental Commodities Exchange Launches
February 11, 2015
The London-based European Environmental Markets will provide trading platforms for environmental commodities including the EU Emissions Trading Scheme, the world’s largest carbon market.

Latin American Exchanges Target Increased ESG Transparency
February 10, 2015
At the first regional Sustainable Stock Exchanges (SSE) dialogue, the four largest Latin American stock exchanges – BM&FBOVESPA, the Mexican Stock Exchange, the Santiago Stock Exchange, and the Columbian Securities Exchange – committed to promoting corporate sustainability by increasing transparency in their markets and by stimulating investor demand for ESG information.

Strong Push for Female Representation on Australian Boards
February 5, 2015
The Australian Council of Superannuation Investors (ACSI) has launched an initiative to increase female board membership on large Australian Stock Exchange (ASX)-listed companies to 30% by 2017, up from 20% in 2014. ACSI members own 10% of ASX 200 shares.
Responsible Investor (subscription): http://bit.ly/17gOb0P

GRI Guides Reporting for EU Non-Financial Disclosure Directive 
February 4, 2015
A Global Reporting Initiative (GRI) document, Making Headway in Europe, explains how the GRI G4 guidelines can help companies report information for the European Directive on disclosure of non-financial and diversity information, which was adopted in December 2014.

Euronext Paris Forms User Committee
February 4, 2015
The Committee will advise Euronext Paris on issues that impact listing companies and investors, including proposed initiatives, products, and services. Inès de Dinechin, a board member at Euronext London, chairs the eighteen-member Committee. Members include representatives from both companies and investors.

OECD Reviews FMA Corporate Governance Guidelines
February 3, 2015
The Organization for Economic Co-operation and Development (OECD) is revising the Financial Markets Authority’s (FMA) updated corporate governance guidelines (released in December 2014). The new guidelines address board diversity and business ethics. The original FMA guidelines were issued in 2004.

Morgan Stanley Launches ESG Evaluation Tool For Investors
January 30, 2015
The Embedding Sustainability into Valuation report incorporates ESG factors into its framework for assessing corporate value across various sectors.

KRX Delists as Public Institution
January 29, 2015
The Korea Exchange (KRX) has delisted as a public institution, lifting its monopoly over the South Korean capital market. An alternative trading system will be introduced to compete with KRX, a move that is expected to revitalize the struggling domestic marketplace.

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European Commission Proposes Capital Markets Union, Seeks Comment
Stakeholder consultation ends May 13, 2015
The European Commission has proposed forming a single capital market for member states, called the Capital Markets Union. The plan would streamline cross-border investment and financing.
Consultation: http://bit.ly/1BHJaeh

Guidance for Australian Investor Action On Corporate Governance
Comments due April 20, 2015
The Australian Securities and Investments Commission (ASIC) is updating its guidance for investors wishing to improve corporate governance. Comments are encouraged on the consultation paper, Collective Action by Investors: Update to RG 128.

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Singapore Exchange (SGX) CEO Announces Departure
February 24, 2015,
SGX CEO Magnus Böcker has announced he will be leaving the 8th largest exchange operator when his contract expires in late June. Previously, he served as the chief executive of OMX, and ushered in a wave of sustainability initiatives at SGX while at the helm.

Balasubramaniam Venkataramani Named MCX CEO
February 13, 2015
Venkataramani joins MCX Stock Exchange from the Bombay Stock Exchange, where he served as Chief Business Officer. Former MCX CEO Manoj Vaish resigned in May 2014.

Borsa Istanbul CEO Resigns, Will Run For Parliament
February 12, 2015
Ibrahim Turan stepped down from his position as CEO of Borsa Istanbul (BIST), Turkey’s largest stock exchange. He will run for a Turkish Parliamentary seat in the June 2015 elections. BIST Deputy President Hüseyin Zafer is the acting CEO.

Maurice Van Tilburg Named Euronext Amsterdam CEO
February 2, 2015
Van Tilburg will also serve on the Euronext Managing Board. He was promoted to CEO from Head of Business Projects and Design of the European Equity and Equity Derivatives Markets. Van Tilburg replaces Cees Vermas, who left Euronext in December 2014 to become CEO of CME Europe.

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SGX Issues Corporate Governance Disclosure Guide
January 29, 2015
The Singapore Exchange (SGX) guide assists companies with corporate governance reporting, which is mandatory on a comply-or-explain basis under the Code of Corporate Governance 2012. While overall compliance is high, reports often skimp on issues like board diversity and sustainability risks.

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EEX to Launch Wind Power Futures
February 10, 2015
The European Energy Exchange (EEX) plans to launch wind power futures this summer, capitalizing on investor interest in the European low carbon market. The futures are the first contracts for wind by a European commodity exchange. EEX is owned by Deutsche Börse AG.

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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