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Stock Exchange Progress

Stock Exchange Progress

NASDAQ OMX joined the SSE Initiative as a “Partner Exchange” and made a formal commitment to promote sustainable investment and improved ESG disclosure and performance. NASDAQ OMX was one of five exchanges—and the only North America-based exchange—to make this commitment at the UN SSE Global Dialogue in Brazil in June 2012. BM&FBOVESPA, the Egyptian Exchange, Borsa Istanbul Stock Exchange and the Johannesburg Stock Exchange joined the Rio commitment, and were later joined by Bombay Stock Exchange, the Nigeria Stock Exchange, the Warsaw Stock Exchange, and NYSE Euronext.

NASDAQ OMX has further committed to discuss a global standard for ESG reporting with other exchanges and the World Federation of Exchanges.

At the Ceres 2013 Annual Conference, Sandy Frucher, Vice Chairman of NASDAQ OMX, spoke about the importance of sustainability disclosure, NASDAQ OMX’s dedication to encouraging stock exchanges around the world to get involved in sustainability, and Ceres’ leadership in developing a universal standard. Watch below.

The Johannesburg Stock Exchange’s Listings Requirements have a provision that listed companies must comply with the King Code of Governance for South Africa (King III), including the integrated reporting requirement, or explain why not. The King Code is a set of corporate governance principles and recommended practices for South African companies and other entities. The King Code, which is on an “apply or explain” basis, addresses issues such as Board responsibilities, stakeholder relationships, and integrated reporting and disclosure.

Brazil’s BM&FBOVESPA recommends that listed companies publish a sustainability report (using the “Report or Explain” model) and provides resources to companies, including its Novo Valor (New Value) sustainability guide and trainings on sustainability reporting using the Global Reporting Initiative (GRI).

After issuing a Consultation Paper and Consultation Conclusions on its ESG reporting guide, the Hong Kong Stock Exchange amended its Listing Rules to include a recommendation for listed companies to produce sustainability reports. An Appendix to the Listing Rules, the ESG Reporting Guide, includes a comprehensive list of potential ESG Key Performance Indicators and provides additional reporting guidance.

The SSE Initiative (with support from Aviva investors) publishes a biennial Report on Progress, which also shows a growing commitment by exchanges worldwide to various sustainability initiatives. In the most recent report, 86% of surveyed exchanges indicated that they already had or were planning to launch sustainability indices, and 80% of respondents welcomed a global approach to consistent and material sustainability reporting.

Stock Exchange Profiles

Bolsa Mexicana de Valores (BMV)
http://www.bmv.com.mx/

BMV is Mexico’s only stock exchange. It is the second largest stock exchange in Latin America after Brazil’s BM&FBOVESPA.

Download the profile.

Deutsche Börse
http://deutsche-boerse.com/dbg/dispatch/en/kir/dbg_nav/home
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Deutsche Börse AG operates the Frankfurt Stock Exchange, which is the largest of Germany’s stock exchanges.

Download the profile.

NASDAQ OMX
http://www.nasdaqomx.com/

The NASDAQ OMX Group, Inc. owns and operates The NASDAQ Stock Market (U.S.) and the stock exchanges comprising NASDAQ OMX Nordic and NASDAQ OMX Baltic.

Download the profile.

NYSE Euronext
http://www.nyx.com/

NYSE Euronext owns stock exchanges in the U.S. (including the New York Stock Exchange) and Europe. It was acquired by the IntercontinentalExchange Group, Inc. in 2013.

Download the profile.

Toronto Stock Exchange
http://www.tmx.com/en/index.html

Toronto Stock Exchange is Canada’s senior equities market. It is owned and operated by TMX Group Limited.

Download the profile.

Download the Investor Listing Standards Proposal

InvestorListingStandardsProposal.jpg

The Investor Listing Standards Proposal is a proposal and set of investor recommendations on a stock exchange listing standard focused on corporate sustainability disclosure.

Download the Investor Listing Standards Proposal