New Zealand Exchange (NZX) announced today that it has joined the United Nations Sustainable Stock Exchange (SSE) initiative – a platform for exchanges to discuss environmental, social and corporate governance enhancements and stimulate discussions about sustainable investment.
The initiative, which currently includes more than 60 participating exchanges, is expected to prompt NZX to make long-awaited changes to its Corporate Governance Code, last updated in 2003 – a move that would greatly reduce fragmentation between various governance reporting requirements and guidance for NZX Main Board listed issuers.
NZX is delighted to join the United Nations Sustainable Stock Exchange initiative. Given the role NZX plays at the centre of New Zealand’s capital markets we have a unique opportunity to work with listed companies to encourage and enhance the quality of environmental, social and corporate governance reporting.”, said NZX CEO Mark Peterson.
NZX will also join United Nations discussions on Green Finance, including talks and investigations into how exchanges can work with regulators, policy makers, listed companies and investors to promote greener and more inclusive economies.
The SSE initiative is organised by the UN Conference on Trade and Development (UNCTAD), the UN Global Compact, the UN Environment Program Finance Initiative (UNEP FI), and the Principles for Responsible Investment (PRI).
We welcome the New Zealand stock exchange to the United Nation’s global family of stock exchanges, working with us to promote responsible investment in sustainable development”, said UNCTAD Director of Investment and Enterprise James Zhan.
The PRI is delighted to welcome NZX as a partner exchange to the SSE initiative. We believe exchanges provide an important nexus point for bringing together investors, companies, policymakers and civil society to create a truly sustainable financial system,” commented PRI Managing Director Fiona Reynolds.