September 2015 Sustainable Stock Exchange Highlights

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SSE INITIATIVE NEWS

REGISTRATION NOW OPEN – SSE Regional Dialogue: Nordics
November 4, 2015
The SSE Regional Dialogue offers a unique platform for CEO’s of stock exchanges, listed companies and institutional investors, alongside high-level policy makers and regulators, to demonstrate leadership and understanding of the sustainable development opportunities and challenges facing capital markets today. To see a list of confirmed speakers, preliminary programme and to register, visit the SSE website. There is no fee for this United Nations event, but registration is required and spaces are limited.

Global Stock Exchanges Welcome New Sustainable Development Goals (SDGs)
September 24, 2015
Over 30 business and government leaders that took part in the SSE Leaders Luncheon on the SDGs proclaimed that stock exchanges have an important role to play in promoting corporate practices and facilitating investment that will advance the UN Sustainable Development Goals.

Four Exchanges Join UN SSE Initiative
September 24, 2015
The stock exchanges of Colombo (Sri Lanka), Kazakhstan, Mauritius, and Rwanda have joined the UN SSE initiative as partner exchanges, bringing the total to 27.

SSE Launches Campaign to Close Guidance Gap
September 7, 2015
A group of stock exchanges (Bucharest, Egypt, HoChiMinh, Ha Noi, London, Nigeria, and Santiago) have joined other “first mover” exchanges in promoting environmental, social and governance (ESG) disclosure to listed companies by committing to publish guidance on ESG reporting, helping to meet investor’s ESG data needs.

UN SSE Initiative Releases Voluntary ESG Reporting Tool for Stock Exchanges
September 8, 2015
In cooperation with a diverse advisory group, including Ceres, a resource for exchanges seeking to implement ESG Reporting Guidance to listed issuers was created: “Model Guidance on Reporting ESG Information to Investors: A Voluntary Tool For Stock Exchanges to Guide Issuers.”

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WEBINARS AND EVENTS

CEO of New Canadian Exchange to Address Critical Issues Facing Canada’s Capital Markets
October 14, 2015
Jos Schmitt’s discussion will focus on issues facing Canada’s capital markets and the important role exchanges play in enhancing investor confidence, re-energizing the role dealers play, and reviving the success of capital raising companies. The NEO exchange was launched in March 2015 to address current market issues and improve the markets for all participants.

World Federation of Exchanges (WFE) Annual Meeting
October 19 – 21, 2015
The 55th WFE General Assembly and Annual Meeting will take place in Qatar. For more information, please contact: wfe@world-exchanges.org.

Annual ASEA Conference Focusing on Sustainability
November 15 – 17, 2015
Twenty-five securities exchanges will be in attendance in Johannesburg at the 19th annual African Securities Exchanges Association (ASEA) annual conference, “Africa Evermore: Growth for Sustainability.” The conference will focus on demonstrating that Africa’s capital markets are stable, have huge potential, and are growing.

Italian Corporate Governance Committee Meeting
December 3 – 4, 2015
The Committee is meeting to approve the new edition of the Corporate Governance Code, which includes a number of board accountability and whistle-blower provisions that issuers must implement by the end of the 2016 fiscal year.

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GENERAL NEWS

Ontario Securities Commission (OSC) to Discuss Gender Parity
September 29, 2015
The OSC held a round-table to discuss issues identified in a review of over 700 TSX-listed issuers’ disclosure of the number of women on the board of directors and in executive officer positions.

Philippine SEC Drawing Up a New Corporate Governance Blueprint
September 28, 2015
The new and comprehensive framework and strategy will raise standards across Philippine capital markets by guiding corporate governance policy and program development, implementation, and enforcement.

Modernized Corporate Governance Code for Bucharest Stock Exchange
September 23, 2015
The new code has a “comply or explain” disclosure requirement and enforcement rules focused on what is required from issuers in the areas of: responsibilities, risk management and internal control systems, fair rewards and motivation, and building value through investors’ relations.

CDP Sees a Surge in Companies Disclosing an Internal Price on Carbon
September 21, 2015
CDP disclosures revealed that 437 companies, up from 150 last year, apply a price to each emitted ton of CO2 as an internal budgeting and planning tool, thus preparing themselves for potential government policies on these matters.

Hong Kong Joins Push for Sustainable Listing Rules
September 18, 2015
A consultation laying the foundation for listed firms in providing environmental, social and governance information signals the Hong Kong stock exchange’s intent to join other Asian exchanges, including Malaysia and Singapore, in using listing requirements to improve sustainability reporting.

Upstart Exchange IEX Files to Become a US Stock Exchange
September 16, 2015
CEO Brad Katsuyama firmly believes that IEX’s business model addresses transparency issues that plague US exchanges. He hopes to create more efficient capital markets through fully committing to serving issuers, investors, and their agents.

Reforms at the Principles for Responsible Investment (PRI)
September 14, 2015
Over the next year, PRI will work towards outlining options to increase transparency of its assessment of signatories, potentially adding “systemic risk” as a seventh principle, and ensuring its 1,400 signatories are meeting their commitments.

Stock Exchanges Asked to Issue Voluntary Reporting Guidance
September 14, 2015
Allianz Global Investors is leading a global campaign that is seeking the support of institutional investors in calling on all stock exchanges to implement voluntary ESG reporting guidance.

Issuers’ ESG Disclosure Ranked in Corporate Knights’ World Stock Exchanges Report
September 11, 2015
In response to the overall discouraging figures discovered in their research, the report urges policy-makers, investors, stock exchanges, and securities regulators around the world to disclose sustainability information in a timely manner.

Aviva Calls on Investors to Challenge IOSCO’s Lack of Sustainability Efforts
September 8, 2015
While praising the efforts of individual stock exchanges to promote ESG disclosure, Aviva’s Chief Responsible Investment Officer Steve Waygood urged investors to “much more directly challenge IOSCO on this,” adding that the body – which calls itself “the global standard setter” for the securities sector – “isn’t delivering on its role.” (paywall)

Ceres Declares Stock Exchanges Key to Improving Corporate ESG Disclosure
September 8, 2015
Speaking to the fundamental benefits of the UN’s Model Guidance, Ceres President Mindy Lubber hopes that it will help exchanges to put forth robust ESG reporting guidance, preparing them for ESG listing requirements in the near future.

Oxfam Urges Listed Hong Kong Companies to Help Improve Society
September 8, 2015
Calling attention to issues including economic crises, skyrocketing food prices, and the exploitation of labor, aid agency Oxfam cited enhanced brand awareness and ability to attract investors as benefits of improving societal ills.

Harvard Business School Professors: Boards Must Look Beyond Shareholders
September 3, 2015
In an effort to refocus corporate priorities, Bob Eccles and Tim Youmans suggest boards of directors issue an annual “Statement of Significant Audiences and Materiality,” which identifies shareholders, bondholders, employees, and ESG-focused NGOs for corporate communication.

A Business Case for CSR at Small and Medium Sized Enterprises (SMEs)
September 1, 2015
Having potentially greater intrinsic motivation to implement “strategic CSR” may trump having fewer resources regarding SMEs ability to reduce risks and capitalize on opportunities associated with sustainable business practices.

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ESG INDICES AND PRODUCTS

New Tool Demonstrates the Alignment Between GRI and SASB
September 11, 2015
ISOS Center for Social Responsibility has developed a planning tool that identifies the connections between the Global Reporting Initiative (GRI) and the Sustainability Accounting Standards Board (SASB), for organizations to identify material issues and track and disclose their sustainability impacts.

Shanghai Stock Exchange (SSE) to Launch Carbon Efficiency Index
September 9, 2015
Aiming to direct capital flows from fund managers towards “green businesses,” the Chinese exchange and the China Securities Index will track the carbon efficiency of blue-chip companies belonging to the SSE180 index.

European Energy Exchange to Launch Wind Power Contract
September 2, 2015
The innovative product will help wind power plants cope with unpredictability issues that arise over the course of a given month, enabling clients to hedge risks and speculate on an increasingly important part of the electricity supply.

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MANAGEMENT NEWS

Arabesque Hires the Founder of the United Nations Global Compact
August 31, 2015
Georg Kell is set to be appointed as vice-chairman at the Anglo-German asset manager.

New CEO of London Stock Exchange
September 29, 2015
Effective immediately, former UK Treasury Director Nikhil Rathi will replace Alexander Justham as CEO of London Stock Exchange.

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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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