(20 December 2017) The Argentine stock exchange BYMA has signed a commitment letter with the United Nations Sustainable Stock Exchange (SSE) initiative, joining nearly 70 stock exchanges worldwide committed to sharing information and working with stakeholders to promote the sustainability and transparency of capital markets.
“We are delighted to join the SSE initiative today. BYMA is developing sustainability initiatives on several fronts in Argentina,” said Ernesto Allaria, Chairman of BYMA. “By joining other exchanges working on sustainability issues in the SSE initiative, BYMA will share its experiences and other positive developments in Argentina, and work together with like-minded peers to contribute to building a sustainable future.”
The BYMA is the 69th stock exchange to voluntarily commit, through dialogue with investors, companies and regulators, to promoting long-term sustainable investment and improved environmental, social and corporate governance disclosure and performance among companies listed on our exchange.
BYMA has been working progressively to strengthen its internal practices of Corporate Governance. “The goal is to professionalize and to start upon a gradual path towards best practices and international standards, which will generate positive changes in our corporate culture,” said Ernesto Allaria.
To do this, the exchange has undertaken an evaluation of markets worldwide, and using this information it plans to launch a new segment with higher standards of corporate governance, to which companies will enter voluntarily.
“BYMA is inspired by the NOVO MERCADO and is evaluating other examples, with the view of adapting them to the Argentine capital market and regulatory environment. BYMA will be the first company in listing its shares in this New Segment and we would like to become an example for the other companies,” Ernest Allaria said.
The exchange is also working with the Inter-American Development Bank to create a Sustainability Index in order to identify the leading companies in ESG. Both projects will be launched during 2018.
About the Sustainable Stock Exchanges initiative
The SSE is a peer-to-peer learning platform for exploring how exchanges—in collaboration with investors, regulators, and companies—can encourage sustainable investment and enhance corporate transparency, and ultimately performance, on ESG (environmental, social and corporate governance) issues. The SSE is convened by the UN Conference on Trade and Development (UNCTAD), the UN Global Compact, the UN Environment Finance Initiative (UNEP FI), and the Principles for Responsible Investment (PRI). For more information on specific exchanges’ sustainability efforts, how to become a Partner Stock Exchange, and further opportunities to advance the integration of sustainability within capital markets, visit www.sseinitiative.org