June 2015 Sustainable Stock Exchange Highlights

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Latin Sustainable Investment Forum (LatinSIF) Funds Training for SSE Partner Exchanges
May 25, 2015
The Sustainable Stock Exchanges (SSE) initiative and LatinSIF unveiled scholarships for five SSE Partner Exchanges and other capital market representatives in the region to participate in a Principles for Responsible Investment training course.

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World Federation of Exchanges and Bursa Malaysia Team Up on Sustainability Forum
July 23, 2015
The Global Sustainability and Impact Investing Forum will focus on supporting sustainable economic growth, and will host more than 180 policy makers, businesses and investors in Kuala Lumpur.

Sustainable Business Essentials Workshop Focuses on ISO 26000
July 30, 2015
Held in Hong Kong, the one-day course will explore the fundamentals of sustainable business practices using the International Organization on Standardization’s 26000 standard for social responsibility in an Asia-Pacific context.

Advanced Global Reporting Initiative G4 Training
September 24 – 25, 2015
This two-day Institute of Environmental Management and Assessment approved course provides participants with knowledge of the Global Reporting Initiative (GRI) G4 framework and how to produce a G4-compliant ESG report.

ACGA 15th Annual Conference
November 3 – 4, 2015
The Asian Corporate Governance Association’s (ACGA) Annual Conference, “Asian Business Dialogue on Corporate Governance 2015,” will take place in Kuala Lumpur.

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HKEx Governance Listing Rule Change Rejected by Regulators
June 25, 2015
Citing a potentially adverse blow to the reputation of its widely respected regulatory system, Hong Kong Exchanges and Clearing’s (HKEx) securities regulator has officially objected to the exchange’s proposed amendment to its one share, one vote listing rule.

New Malaysia Guidance to Tackle Uneven Islamic Finance Practices
June 3, 2015
Malaysia’s central bank will finalize a set of 11 operating standards for all major Islamic finance contracts to complement existing sharia guidelines, thus creating the first comprehensive guidance for the industry.

Japan’s Governance Code Takes Effect
June 2, 2015
Encouraging prudential risk-taking and “capital efficiency,” the code’s explicit goals are to increase corporate productivity and earnings to global levels by “changing companies” and “reforming managers’ mindsets.”

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Fourth Annual Sustainable Exchanges Report Released
June 26, 2015
Ultimately urging policy makers, stock exchanges, and securities regulators to require companies to issue sustainability reports, Corporate Knights’ 4th exchange benchmarking report ranks issuers’ disclosure of: employee turnover, energy, greenhouse gas emissions, injury rate, payroll, waste diversion and water use.

Sustainability to Be Required of Sweden’s AP Funds
June 23, 2015
The Swedish government will write into law that the five AP pension funds (AP1, AP2, AP3, AP4, and AP6) are required to integrate ethical, environmental, social, and governance metrics into their investing processes. (paywall)

Borsa Istanbul Makes Strides Towards Global Ambitions
June 19, 2015
Newly appointed Borsa Istanbul CEO, Tuncay Dinç, explains how and why sustainability will play a key role in making the exchange one of the most important in the world.

Islamic Reporting Initiative (IRI) and Social Stock Exchange Join Forces
June 14, 2015
IRI has partnered with the London-based Social Stock Exchange to further its mission to provide a mainstream reporting standard for Corporate Sustainability and Social Responsibility based on Islamic principles.

Canadian Firms Rebuked for Non-Compliance with Gender-Diversity Rules
June 10, 2015
Ontario Securities Commission Chair Howard Wetston complained that many companies are flouting rules requiring them to disclose their policies and internal targets for female directors, and report the number of female directors and senior officers.

GRI: Advancing Sustainable Operations Through Better Reporting
June 9, 2015
As the basis of its five-year strategic plan and its continuing effort to increase collective understanding of sustainability issues, the Global Reporting Initiative (GRI) will prioritize: Enabling Smart Policy, More Reporters and Better Reporting, Moving Beyond Reports, and Innovation and Collaboration.

Principles for Responsible Investment Addressing Criticisms
June 6, 2015
The Principles for Responsible Investment’s (PRI) Fiona Reynolds has her sights set on how to move the organization forward on impact and credibility, including ranking signatories’ fulfillment of their commitments and delisting laggards. (paywall)

Shareholders Must Be Empowered with Say on Pay Voting Rights for Directors
June 5, 2015
Saying more transparency will foster shareholders’ long-run capital commitments, in turn improving the competitiveness and sustainability of European companies, the Members of European Parliament (MEP) Legal Affairs Committee voted in favor of allowing shareholders to vote on directors’ remuneration.

CDSB and IIRC Join Forces to Advance ESG Disclosure
June 4, 2015
The Climate Disclosure Standards Board (CDSB) and the International Integrated Reporting Council (IIRC) have a similar vision for a corporate ESG reporting regime that will deliver the data investors need to perform comprehensive due diligence and ongoing monitoring of portfolio companies.

Johannesburg Stock Exchange Strengthens ESG Standards
June 3, 2015
The Johannesburg Stock Exchange’s alignment of its ESG disclosure indicators and data collection methodology with FTSE Russell’s will provide investors with cutting-edge ESG metrics to integrate into issuer analyses and ongoing monitoring.

France Mandates Carbon Reporting for Investors
June 1, 2015
French institutional investors will be required to disclose how they are managing climate change risks through evaluating the carbon intensity and other environmental impacts of their portfolio companies.

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IOSCO Issues Guidance on Assessing Credit Risk
Comments due July 8, 2015
The report proposes 13 practices for large market intermediary firms to consider in the implementation of their internal credit assessment policies and procedures.

Singapore Exchange (SGX) Sustainability Investor Survey
Responses due July 13, 2015
SGX seeks investor and stakeholder responses to its survey on implementing a “comply or explain” ESG listing requirement. It has already gathered feedback from companies in May. The survey is available here: https://sgxsurveyinvestors.questionpro.com using the password sgxsurvey. Please direct any questions to sustainability.reporting@sgx.com.

ESMA Questions Proxy Advisors’ Code of Conduct
Responses due July 27, 2015
The European Securities and Markets Authority (ESMA) seeks responses to its questions regarding the degree to which the Code of Conduct developed by proxy advisors’ Best Practice Principle Group will help to ensure proxy advisor activities do not result in market failures.

European Commission Public Consultation on the Circular Economy
Comments due August 20, 2015
A circular economy strategy is sought to make Europe more competitive and resource-efficient in terms of sourcing raw materials, product design, production processes, product lifecycles and waste management.

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ESG Index Based on the S&P 500 Launched
June 24, 2015
Standard & Poor’s (S&P) Environmental and Socially Responsible Indices comprises issuers selected using RobecoSAM’s transparent, rules-based methodology to score companies on environmental and social dimensions.

Euronext and Vigeo Emerging Market Countries ESG Index
June 22, 2015
Euronext’s index distinguishes 70 companies from a universe of 900 listed companies in developing countries, which have the highest ESG performance based on Vigeo’s ratings.

Calvert Meeting Investors’ Demand for ESG Products
June 22, 2015
Three distinct US large cap indexes have been created based on growth, core and value strategies, as part of Calvert’s effort to build upon its global Responsible Investing suite of products and services.

Thomson Reuters and Verite Partner to Mitigate Supply Chain Risk
June 17, 2015
Thomson Reuters is partnering with Verité to provide expert guidance and data to help companies assess and analyze human trafficking, corruption, and related crimes that are endemic in subsidiary, supplier, and contractor firms.

Nasdaq Stockholm Launches Sustainable Bonds List
June 9, 2015
Created in collaboration with Sustainalytics to provide a comprehensive view of sustainable investment alternatives at Nasdaq Stockholm, the list will initially include 12 bonds with a total nominal value of over 5.4 bn SEK.

Real-Time ESG Monitor
June 2, 2015
Datamaran V1 extracts publicly available content and alerts decision makers to relevant ESG developments in real-time to help them build contingency plans, track business developments and engage with the opinions shaping their reputation.

MSCI Keeps Pace with Investor’s ESG Data Needs
May 28, 2015
Designed to support institutional investors’ growing ESG integration, manager reporting, engagement and portfolio monitoring needs, MSCI has launched its next generation product, “MSCI ESG Ratings.”

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London Stock Exchange Appoints a New Chairman
June 19, 2015
Donald Brydon will replace Chris Gibson-Smith, who will step down on July 1, 2015.

Mary Schapiro Named to the London Stock Exchange Board
June 8, 2015
Former chairwoman of the US Securities and Exchange Commission from 2009 to 2012, Schapiro will begin serving as a non-executive director on July 1, 2015.

Loh Boon Chye Named CEO of Singapore Exchange
June 8, 2015
Loh Boon Chye replaces Magnus Bocker at the helm of Southeast Asia’s biggest bourse.

NYSE Appoints Stacey Cunningham as COO
June 2, 2015
With a focus on a customer-led approach to strategy and development, Cunningham will manage a number of NYSE Group units in her new role as Chief Operating Officer.

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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