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In adopting the World Federation of Exchanges Sustainability Principles, the Eswatini Stock Exchange (ESE) acknowledges the important role markets play in enabling the transition to an inclusive and sustainable global economy.
This was said by Global Reporting Initiative Director Douglas Kativu during a workshop held at the Hilton Garden Inn last Friday. He said the exchanges, given their central role in financial markets, could shape the understanding, appreciation and integration of environmental, social, and governance (ESG) issues in capital markets pursuant to long term health and resilience of the markets as well as sustained returns growth.
Sustainability principles identified the need to educate and build the capacity of investors, issuers and market participants on ESG risks and opportunities. Kativu said enhanced accountability and transparency by listed companies would engender trust and confidence of investors critical for resilient capital markets, and sustained returns and growth. “Listed companies will enhance their competitiveness with regards to improved operational efficiencies, risk management, innovation and market access. Collaborating with GRI will provide opportunities for ASEA and member exchanges to enhance their knowledge and capacity of GRI sustainability,” he added.
Meanwhile, Financial Services Regulatory Authority Acting Chief Executive Officer Gugu Makhanya stated that the African Securities Exchanges Association (ASEA) and the Global Reporting Initiative (GRI) which was a leading organisation in sustainability reporting, were collaborating to enhance the integration of ESG issues and disclosure within African Capital Markets. She said the partnership would support the development of ESG Disclosure Guidance by ASEA exchanges, which would apply to listed companies in their markets. Not only that but they will also facilitate training and capacity building of listed companies on sustainability reporting. “The collaboration supports and gives effect to ASEA’s Sustainability Roadmap and World Federation of Exchanges (WFE) sustainability principles,” she said.
Tue Feb 2020