Thai bourse first in Asean to join UN Sustainable Stock Exchanges

business September 10, 2014 19:43

By The Nation

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The Stock Exchange of Thailand today announced the partnership with the UN Sustainable Stock Exchanges Initiative (UN SSE Initiative), becoming the first Asean exchange to join other 12 leading exchanges that have publicly committed to promoting sustainab

SET Chairman Sathit Limpongpan said that the Thai exchange in July signed the voluntary commitment with the UN SSE Initiative, committed to working with
investors, companies and regulators to promote long-term sustainability through enhancing corporate transparency and performance on environmental, social and
governance (ESG) issues among the listed companies, and encouraging responsible long-term approaches to investment among investors.
"To be the first exchange in Asean joining the SSE initiative reinforces our regional leadership and will enhance SET's international recognition," he said, adding that this underlines SET's aims to develop sustainability of the exchange and the Thai capital market in a concrete way.
  In October, the Thai bourse will share its intention to the proactive approach to sustainable development during the SSE Global Dialogue to be held at the United Nations in Geneva, Switzerland.
"This follows SET's currently remarkable sustainable development in the region, proven records by achieving the top corporate governance score ranked by Asean corporate governance scorecard for two years in a row (2013-2014), being Asia's top score of Corporate Governance - Report on the Observance of standards and Codes (CG-ROSE) in 2013 assessed by World Bank. We therefore welcome this initiative as it will allow us to share and learn the best practice with other exchanges," Sathit said.
According to SET President Kesara Manchusree, the Thai bourse has its own sustainability development framework, focusing on five key areas, namely market value, business operations, employees, society, and environment. SET would soon establish a working group to substantially construct short-, medium-, and long-term plans for these five key areas.
  The UN SSE Initiative, found in 2009, is co-organised by the United Nations Conference on Trade and Development (UNCTAD), United Nations Environment
Programme Finance Initiative (UNEP FI), United Nations Global Compact and UN-supported Principles for Responsible Investment (PRI). It has successfully built engagement with 12 stock exchanges worldwide.
Partner exchanges include the Borsa Istanbul Stock Exchange, the Colombian Securities Exchange (BVC), the Johannesburg Stock Exchange (JSE), the Egyptian Exchange (EGX), the London Stock Exchange Group (LSE), the Mexican Exchange (BMV), the NASDAQ OMX, the Nigerian Stock Exchange, the NYSE, and the Warsaw Stock Exchange.