May 2015 Sustainable Stock Exchange Highlights

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SSE INITIATIVE NEWS

Korean Exchange Joins UN SSE Initiative
May 19, 2015
The Korea Exchange is the 22nd exchange to join the UN SSE initiative as a partner exchange.

South East Asian Capital Market Leaders Convene for Sustainable Markets Dialogue
May 18, 2015
Hosted by the Stock Exchange of Thailand, high-level policy makers, regulators, and senior leadership from the stock exchanges of Laos, Malaysia, Singapore, Thailand, and Viet Nam were provided with a platform to work towards improving issuers’ ESG performance.

Malaysian, Hanoi and Hochiminh Stock Exchanges Join UN SSE Initiative
May 18, 2015
Leaders of the three exchanges announced their public commitment to the SSE initiative by becoming partner exchanges at the South East Asia SSE Regional Dialogue that took place on May 18 in Bangkok, Thailand.

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WEBINARS AND EVENTS

Corporate Social Responsibility (CSR) Course for Indian Directors
June 12 – 13, 2015
The Indian business network for Corporate Sustainability & Responsibility will hold a CSR Training Course for senior level managers at Lavasa Corporation, near Pune, Maharashtra.

Sixth Annual Responsible Extractives Summit 2015
June 29, 2015
Over 200 top-level extractives industry executives will debate key sustainability and social performance issues.

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

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LISTING STANDARDS AND GUIDANCE

SGX Plans ‘Comply or Explain’ Regime for ESG Listing Requirements
May 6, 2015
With implementation targeted for 2017, the Singapore Exchange (SGX) expects to submit changes to its listing rules and a reviewed version of its existing sustainability guidelines by the end of 2015.

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GENERAL NEWS

Failure to Implement CSR to Result in Penalties in India
May 21, 2015
Saying “companies should have social awareness and spend a part of their earnings for welfare of the weaker sections of society,” Maharashta’s Environmental Minister directed district collectors to give notices to firms for not adopting CSR.

Shanghai Stock Exchange Planning Startup Market
May 19, 2015
The Shanghai Stock Exchange is on track to launch a new market for small, innovative companies favored for building an innovation-driven economy, including renewable energy and bioscience.

ASEAN Regional Banks and Investors Are ESG Laggards, Finds New Report
May 13, 2015
Citing weak environmental, social, and governance (ESG) practices by financial institutions, the report urges adoption of Responsible Investing programs, sustainable banking guidelines, and more prescriptive ESG disclosure requirements.

CSR Law in China Hikes Penalties for Offenders
May 7, 2015
Although China’s CSR policy has led to an increased number of companies issuing CSR reports, it has not resulted in better behavior. This situation may change, however, as a result of radically increased penalties for offending companies.

Six Reasons to Respond to the Dow Jones Sustainability Index Survey
May 6, 2015
BrownFlynn makes the case for the organizational benefits that can result from responding to the Dow Jones Sustainability Index (DJSI) survey.

Institutional Investors Need to Participate in Investee Firms’ Governance
May 6, 2015
India’s Securities and Exchange Board was asked by its International Advisory Board to look into both providing compensation to investors affected by insider trading, and ‘naming and shaming’ the offenders.

FRC to Probe Explanations for Code Non-Compliance
May 5, 2015
The UK’s Financial Reporting Council (FRC) plans to examine the quality of explanations made by companies that choose not to comply with the provisions of the UK Corporate Governance Code.

ESG Investing Is Key to Client Attraction and Retention
April 30, 2015
LGT Capital Partners has found that over 50% of investors feel ESG investing results in superior risk-adjusted returns and that asset owners are pressuring managers, across asset classes, to incorporate ESG into their core investment processes.

Market Resiliency Key Issue at IOSCO’s GEM Committee Meeting
April 29, 2015
Discussion focused on enhancing regulation, corporate governance, and cross-border integration at the International Organization of Securities Commissions’ (IOSCO) Growth and Emerging Markets (GEM) Committee.

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CONSULTATIONS AND DEADLINES

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

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ESG INDICES AND PRODUCTS


Nasdaq’s Global Sustainability Index Re-Ranked
May 18, 2015
Nasdaq’s Global Sustainability Index comprises companies that are leading the way on ESG disclosure metrics, including CO2e emissions, water consumption, waste diversion, worker safety, and diversity.

Gender Diversity Index Launched
April 23, 2015
Infinitas Asset Management partnered with the Centre for Gender Economics & Innovation to develop an index that tracks S&P – ASX200 companies with boards comprised of a least 25% females.

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MANAGEMENT NEWS

New Chair of OSC’s Investor Advisory Panel
May 15, 2015
Ursula Menke will serve a two-year term as the Chair of the Ontario Securities Commission’s Investor Advisory Panel.

SEC Commissioner Gallagher to Resign
May 13, 2015
The Republican commissioner, who has publicly battled over such issues as the power of proxy advisory firms, corporate rights, shareholder activism, and the power of the SEC, will leave as soon as his replacement is appointed.

Euronext Announces Appointment of Interim CEO
May 5, 2015
Jos Dijsselhof will serve as interim CEO following Dominique Cerutti’s resignation announcement on April 22, 2015.

HKEx Announces Board Appointments
April 30, 2015
The Hong Kong Exchange’s (HKEx) board now includes an Environmental, Social, and Governance (ESG) Committee.

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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 

 

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