Singapore today became the latest member of the United Nations Sustainable Stock Exchanges (SSE) Initiative.
SSE is a UN initiative that encourages sustainable investment and enhanced environmental, social and corporate governance (ESG) among the world’s stock exchanges.
As the new member of SSE, Singapore hosted the initiative’s Fifth Global Dialogue.
Singapore joins 58 other partner stock exchanges, including the London and New York stock exchanges, in the SSE, a UN initiative that encourages sustainable investment and enhanced environmental, social and corporate governance (ESG) among the world’s stock exchanges.
Singapore Exchange’s chief executive officer, Loh Boon Chye, said, “SGX is delighted to join the SSE Initiative as a Partner Exchange and host to its 2016 Global Dialogue, which is the first time the event is being held in Singapore.
“As a market operator and regulator, SGX is committed to leading the sustainability advancement in Singapore’s capital market. We look forward to both contributing and learning from the other partners of this exciting initiative.”
Today’s Global Dialogue, themed, “A New Global Agenda”, brought together representatives from 16 countries, including stock exchange chief executives, institutional investors and companies, senior government policymakers and United Nations representatives.
The dialogue aims to shape the future agenda of work on sustainability and capital markets within the wider context of the growing role of the private sector in advancing the United Nations Sustainable Development Goals (SDGs).
The UN has emphasized that achieving the SDGs will require a greater emphasis on sustainable business practices and far more investment in SDG-related sectors.
“Stock exchanges play a crucial role in driving the growing green economy so vital to implementing the Sustainable Development Goals,” said Elliott Harris, UN assistant secretary-general and head of the UN Environment New York Office.
“We welcome the commitment of the Singapore Exchange, which is putting sustainability at the heart of its business strategy,” he added. “Stock exchanges are in a unique position to help mobilize the regulations, policies and market opportunities that will support a brighter future for people and planet.”
With 59 partners now in the SSE, more than 70 percent of listed equity markets have made a public commitment to advancing sustainability in their markets. Additionally, 12 stock exchanges now require ESG reporting as a listing rule, and 11 exchanges list green bonds.