Regulators, investors, issuers and exchanges gather for ESG roundtable

(27 September 2017, Berlin) The SSE held a roundtable discussion alongside the 2017 PRI in Person conference to evaluate how regulators, stock exchanges, investors and issuers can enhance corporate transparency to build long term markets and drive capital towards the Sustainable Development Goals (SDGs).

Moderated by Bloomberg’s Global Head of Sustainable Business & Finance Mr. Curtis Ravenel, the dialogue encouraged participants to evaluate the following key questions:

  • How can market securities regulators and stock exchanges help to implement the FSB TCFD recommendations while avoiding the creation of undue reporting burdens in their market?

  • What mandatory reporting requirements have been particularly successful and how can these best practices be replicated in other markets?

  • Does a globally consistent baseline requirement for reporting ESG information make sense, and if so what process or mechanism would be involved in encouraging the adoption of such requirements by countries?

  • How can regulators and stock exchanges promote the growth of green and social bond markets and other sustainable finance products in their markets?

The dialogue was attended by regulators, stock exchanges, issuers and investors. The inputs received during the dialogue will further shape the work programme of the SSE going forward.

Key comments from participants include:

“In 2016 alone, 19 market authorities and exchanges signed the Marrakesh Pledge for ‘Fostering green capital markets in Africa’,” said Mr. Hicham Elalamy, director of support and development at AMMC. “Moroccan Capital Market Authority started integrating green finance in all its bilateral cooperation agreements in 2016.”

“In order to meet the global challenges that face us, it is absolutely essential that we encourage a broad and profound dialogue within the financial community,” said Kristina Jeromin, head of group sustainability at Deutsche Börse AG.

“The looming transportation of the current financial system to a genuinely sustainable one demands far-reaching economic, political and social changes. These will only be achieved by leveraging our expertise, pooling resources and by clearly defining those sectors where we must focus our efforts,” Ms. Jeromin said.

Melsa Ararat, founder, Illac and founding director of Corporate Governance Forum of Turkey at Sabancı University, called on stock exchanges to “play an active role by including gender diversity provisions in their listing rules and set an example by appointing diverse boards.”

“With strong global momentum towards a sustainable and low carbon economy, investors are demanding data to guide their investment strategies,” said David Harris, head of sustainable business at LSE Group.

The dialogue was attended by regulators, stock exchanges, issuers and investors. The inputs received during the dialogue will further shape the work programme of the SSE going forward.

This event was in partnership with GIZ’s Emerging Market Sustainability Dialogues programme, with support from Ceres and the Moore Foundation.


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

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