January 2016 Sustainable Stock Exchange Highlights

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Save the Date: SSE Global Dialogue 6 September 2016 in Singapore
Held once every two years, the SSE Global Dialogue is a unique global gathering designed to bring together market leaders to analyse, promote and foster communication on stock exchanges’ sustainability initiatives.

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Singapore Exchange (SGX) Consultation on Comply or Explain Sustainability Reporting
Comments due February 5, 2016
After gathering input for a year from companies and investors, SGX is seeking feedback on the latest draft of its proposal to require annual sustainability reporting from its listed issuers.

Ceres Consultation on the World Federation of Exchanges (WFE) Sustainability Reporting Guidance
Comments due February 22, 2016
In order to identify and highlight common investor sentiment on the WFE’s sustainability reporting guidance, Ceres has assembled a set of questions for investors to answer. Investors’ responses will be processed into a report and submitted to the WFE’s Sustainability Working Group. For more information, please contact Tracey Rembert or Robert Schwarz.

European Commission Consultation on Non-financial Reporting Guidelines
Comments due April 15, 2016
The Commission is seeking input from citizens, companies, investors, organizations, and public authorities on the non-binding guidance on reporting non-financial data by all large companies following article 2 of Directive 2014/95/EU.

University of Cambridge Study: The Market’s Evolving View of Materiality
Ongoing Survey
The study seeks to examine the materiality of nonfinancial information about issuers’ business activities by surveying a large population of senior decision-makers at corporate issuers, asset management firms, and asset-owning institutions.
Corporate Issuer: http://survey.euro.confirmit.com/wix/p1847586192.aspx
Asset Manager: http://survey.euro.confirmit.com/wix/p1847591561.aspx

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Inaugural Green Bond Awards
February 3, 2016
In partnership with the London Stock Exchange, the Climate Bonds Initiative will recognize issuers who have demonstrated the potential of green bonds and who have called investors, governments, and businesses to action.

International Corporate Governance Network (ICGN) Frankfurt Conference
March 7 – 8, 2016
Hosted by the Deutsche Börse AG, this regional event will focus on the impact of European Directives on investor responsibilities, company engagement, and different approaches to stakeholder participation.

Geneva Summit on Sustainable Finance: The Role of Finance in Promoting Sustainable Development
March 22, 2016
Held at the International Conference Centre in Geneva, sustainable finance related research relevant to academics, investment practitioners, think tanks, policy-makers, non-governmental organizations, and civil society will be presented.

Sustainability Reporting Trends in North America
March 24, 2016
Held in Houston, Texas by the Center for Sustainability & Excellence, the latest research on sustainability reporting trends of US based companies, the use of specific reporting standards and guidelines, and the most followed external assurance practices will be presented.

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India’s Securities’ Regulator Finalizes Official Green Bond Listing Requirements
January 13, 2016
The requirements issued by the Securities and Exchange Board of India (SEBI) provide uniform disclosure standards and will enable investors interested in ‘green’ investments to verify their criteria are being met.

Warsaw Stock Exchange (GPW) Publishes a New Corporate Governance Code
December 23, 2015
Titled ‘Best Practice of GPW Listed Companies 2016,’ the document covers a number of new issues, clarifies existing rules, and imposes stricter requirements while accommodating companies of different sizes to ensure compliance.

Pre-Release of the 2016 GRESB Real Estate Assessment
December 21, 2015
New items in the 2016 survey reflect trends in sustainable real estate, the results of in-house research, and engagement with the real estate industry via GRESB’s Advisory Board, Benchmark Committees, and Industry Working Groups.

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Turkey Upgrading Corporate Governance 
January 28, 2016
Turkey’s Capital Markets Board has asked The European Bank for Reconstruction and Development to help it monitor how companies on Borsa Istanbul comply with corporate governance standards and how they report on that compliance.

Financial Stability Board Announces Membership of Task Force on Climate-related Financial Disclosures
January 21, 2016
Including a special advisor to Singapore Exchange, task force membership includes preparers and users of financial disclosures from financial and non-financial companies across a range of countries and relevant areas of expertise.

Goldman Sachs Makes its Support for Investors Exchange (IEX) Known to the US SEC
January 21, 2016
Adding its voice to earlier investor support, Goldman Sachs said in its letter to the SEC that the advent of the new stock exchange, which is focused on making markets more equitable, raises important issues regarding the way stock markets operate.

Accountants Well Positioned  for Implementing Integrated Reporting
January 20, 2016
A report by the Association of Chartered Certified Accountants and the Institute of Management Accountants finds that accountants are well positioned to develop new guidelines and processes needed to implement Integrated Reporting <IR>.

Pakistan Merges its Three Stock Exchanges
January 17, 2016
The pros and cons of having one stock exchange for an entire country are weighed in light of Pakistan’s big step towards demutualization of its shares market.

The World Federation of Exchanges (WFE) Guidance Expected to “Strike a Cord” with Companies
January 9, 2016
“Guidance as issued by the World Federation of Exchanges, a credible organization globally, elevates the rigor and credibility,” of ESG reporting, head of sustainability reporting for the U.S. arm of Deloitte Touche Tohmatsu was quoted as saying in this article.

A US $59 Trillion Tailwind Spurs Governance Changes in Asian Firms
January 8, 2016
Companies in Asia have noticed the surge in global investors that have signed the Principles for Responsible Investment, likely pressing boards to take on issues such as minority shareholder rights and the environment.

United Nations Environment Program (UNEP) Inquiry: Can Stock Markets Drive Sustainability?
January 7, 2016
From sustainability disclosure listing requirements to regulation of high frequency trading to the evolution of new sustainability aligned exchanges, this working paper explores approaches to stock exchanges encouraging a shift to more sustainable corporate and investor behavior.

Ernst & Young Study Calls for Mandatory Disclosure of Institutional Investors’ Responsible Investing Policy
January 5, 2016
The report for the European Commission recommends that disclosure should be mandatory for all institutional investors, even if no such policy is in place, and calls for monitoring and verification to ensure policies are being applied.

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Solactive Launches Low Carbon Index Family
January 26, 2016
In collaboration with South Pole Group, Solactive AG has launched a low-carbon equity index family, which covers global and regional exposures to carbon, and offers both a liquid benchmark and a smart beta version.

New Index Sets Benchmarks for Long-Term Investment
January 25, 2016
The ‘Long-Term Value Creation Global Index,’ created by S&P Dow Jones Indices and the Canada Pension Plan Investment Board, comprises companies that have demonstrated the ability to manage long-term economic and governance risks and opportunities.

BlackRock Launches its First Sustainable Bond Electronically Traded Fund (ETF)
January 14, 2016
The iShares Euro Corporate Bond Sustainability Screened ETF includes companies rated on 37 different ESG factors and excludes debt from companies that are involved with controversial weapons.

New Tool Eases Search for Oil and Gas Company Climate Disclosures
January 13, 2016
Ceres unveiled an online search tool that enables users to sift through corporate financial filings and organize companies’ official statements on water risks, “carbon asset” risks, hydraulic fracturing, and climate change. (paywall)

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Nasdaq Chief Financial Officer to Retire
January 28, 2016
Lee Shavel, Chief Financial Officer and Executive Vice President, Corporate Strategy will retire, effective March 31, 2016.

CalPERS CEO Retiring
January 21, 2016
Anne Stausboll, CEO for the California Public Employees’ Retirement System (CalPERS), the largest US public pension fund, will step down on June 30, 2016 after serving more than seven years.

SASB Announces New Members to its Board of Directors
January 13, 2016
Audrey Choi, CEO, Institute for Sustainable Investing at Morgan Stanley; Arnie Pinkston, JD, Former General Counsel at Allergan; and Laura Tyson, PhD, Professor, Director of the Institute for Business and Social Impact at the Berkeley Haas School of Business
have all begun serving three-year terms.

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