In the bustling city of Thailand, the Stock Exchange of Thailand (SET) played host to an illustrious meeting of financial giants. On the 8th of September, 2023, key players from Bursa Malaysia, Indonesia Stock Exchange, Philippine Stock Exchange, Singapore Exchange Group, Vietnam Exchange, and SET convened at the 36th ASEAN Exchanges CEOs Meeting. The primary purpose? To establish a robust set of core sustainability metrics that align with globally recognized standards and practices, thus bolstering their competitive edge in the market.
The meeting was energized with discussions around various initiatives aimed at advancing ESG (Environmental, Social, and Governance) collaboration within the ASEAN region. The goal was simple, yet ambitious: to leverage the power of their collective resources and insights to boost the standing of ASEAN stock markets and encourage the growth of sustainable investments.
ASEAN Exchanges executives acknowledged the synergy that these regional markets share and further recognized the promising potential of these markets to connect through strategic cooperation on the depository receipts front. Engrossed discussions elaborated on the exploration of strategic avenues to amplify the range of products and regional promotion.
Pakorn Peetathawatchai, the President of SET, highlighted the exemplary collaboration of the six ASEAN Exchanges. The mutual goal of elevating the ASEAN capital markets has led to a framework that targets diverse areas — promoting sustainable investment, enhancing ESG initiatives, and developing interconnected products to unlock greater investment opportunities for all stakeholders.
“As the region thrives and moves forward, the commitment of the ASEAN Exchanges is to establish the ASEAN market as a choice investment destination. In our discussions, we extensively explored further exposure of cross-border products, the enhancement of the visibility of ASEAN exchanges to international investors, and expanding on the synergies within our markets. Given ESG’s rising prominence at a global level and the influence it holds in investor decision-making, the ASEAN Exchanges’ shared ESG metrics provide critical guidance for our companies in reaching international investors and boosting capital influx into the region,” expressed Pakorn.
During this crucial meeting, the ASEAN Exchanges collectively agreed upon 10 Governance (G) metrics which augment the previously defined metrics concerning Environment (E) and Social (S) aspects. This suite of metrics paves the way for member stock exchanges to foster sustainability among their listed companies. A key objective of this effort is to promote consistent ESG information disclosure on crucial issues, in line with the evolving global trend. Most importantly, these core metrics provide an invaluable contribution to stimulating sustainable investment across the region.
In addition to the top brass from the six exchanges, representative delegates from the Cambodia Stock Exchange and Lao Securities Exchange also graced the meeting with their presence. For exhaustive information on trading, listed companies, and various activities, kindly visit the ASEAN Exchanges website at www.aseanexchanges.org.
In line with their tagline, “SET…Make it Work for Everyone”, the Stock Exchange of Thailand is leaving no stone unturned in their quest to make the ASEAN region a powerhouse as a choice investment destination. Stay connected with their journey on Twitter @SET_Thailand_EN.
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