January 2014 Sustainable Stock Exchange Highlights

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John Ruggie Advocates Improved Non-Financial Reporting in EU
January 22, 2014
John Ruggie, author of the UN Guiding Principles on Business and Human Rights, and the chairman of Shift, urged the Business Secretary of the UK to press for EU-mandated corporate disclosure on human rights issues. The UK has already implemented national reporting standards on human rights, gender diversity and climate change.

Deutsche Borse Chair Promotes “Long-Term Capital Market Culture”
January 20, 2014
In a speech before Europe’s financial leaders, Joachim Faber encouraged pension funds to increase long-term investments.

Bangkok Protesters Threaten to Shut Down Stock Exchange 
January 13, 2014
Tens of thousands of protestors gathered in central Bangkok, demanding that Prime Minister Yingluck Shinawatra step down. Protesters threatened to shut down the stock exchange should Shinawatra refuse.

Deutsche Bank Calls for Consolidating Credit & Sustainability Ratings 
January 8, 2014
Deutsche Bank has called for increased transparency when it comes to sustainability ratings and rankings, and is encouraging credit and sustainability ratings to be merged to better harmonize ESG data.

ACCA Promotes Integrated Reporting
January 8, 2014
The Association of Chartered Certified Accountants becomes the first accountancy body to test students on integrated reporting as part of their qualification.

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Conflict Mineral Resource Centre Established in Response to SEC Disclosure Regulation 
January 23, 2014
The 2012 SEC regulation, prompted by Dodd-Frank, requires public companies to disclose whether they use certain “conflict” materials. The Resource Center, formed by seven industry associations, aims to help companies come into compliance with this new regulation.

Canada Introduces Draft Mandatory Disclosure Rules for Extractive Companies 
January 16, 2014
Canada’s Resource Revenue Transparency Working Group’s recommendations include mandatory public disclosure of corporate contributions to foreign governments by extractive companies listed in Canada.

Spain: New Edition of the Unified Code of Good Governance for Listed Companies 
January 2, 2014
A codes and principles directory overseen by the European Corporate Governance Institute was recently updated to include a copy of the unified code of good governance (in Spanish).

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Malaysia Published Draft Stewardship 
January 24, 2014
Malaysia’s Securities Commission issued a draft stewardship code for responsible investment and opened a comment period to institutional investors, which closes on Feb. 28th.

Ontario Securities Commission Proposes Mandatory Gender Diversity Disclosure, Other Items 
January 16, 2014
Canada’s Ontario Securities Commission opened a 90-day comment period for several proposed disclosure amendments, including one that would require issuers to disclose company policies to increase gender diversity on boards and in senior management, one on gender targets (quotas) for executives, and one on director term limits.

Japanese Stewardship Code Launched, Comments Sought 
December 26, 2013
An expert panel of the Financial Services Agency has published a Stewardship Code for Japanese institutional investors, including an English translation of the Code. The deadline to comment on the draft Code is February 9th.

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ESG Considerations Boos Returns on JPX-Nikkei Index 400 
January 14, 2014
Nomura Equity Research finds that excluding ESG-downgraded stocks over the last seven years resulted in 7.3% excess returns versus the original index.

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Send exchange-related ESG news to Tracey Rembert, Director, Investor Initiative for Sustainable Exchanges: rembert@ceres.org