Economy
Stock exchanges announce commitment to sustainable investment
Five stock exchanges from around the world have collectively pledged to promote sustainable investment in their markets, in what is yet another example of the sector’s increasing prominence in global finance.
The announcement, made last week before high-profile talks at Rio+20, will see NASDAQ OMX, BM&FBOVESPA, the Johannesburg Stock Exchange (JSE), the Istanbul Stock Exchange (ISE) and the Egyptian Exchange (EGX) all attempt to encourage a more responsible way of investing.
The five exchanges have over 4,600 list companies in developed and emerging markets, so will see big potential for change within the global economy.
The news comes not long after the FTSE Group announced the launch of an environmental, social and corporate governance (ESG) service unit to “shed light” on responsible investment.
UN Conference on Trade and Development secretary-general, Supachai Panitchpakdi, said that the exchanges that are committed to promoting sustainability should be “publicly recognised”. Meanwhile, Georg Kell, executive director of the Global Compact, said, “We take this opportunity to call on all stock exchanges around the world to join these leading exchanges in making this potentially transformative commitment.”
The declarations were made at the Sustainable Stock Exchanges’ (SSE) Global Dialogue 2012 in Rio. The SSE is a worldwide initiative aimed at effecting ESG and sustainability collaboration between global stock exchanges.
Have a look at Blue & Green Tomorrow’s Guide to Sustainable Investment for ways that you can help your money make a positive difference.