On the 8th of September 2023, a grand gathering of financial leaders took place, the 36th ASEAN Exchanges CEOs Meeting, graciously hosted in the heart of Thailand by the Stock Exchange of Thailand (SET). Alongside SET, five other major market players graced the event — Bursa Malaysia, Indonesia Stock Exchange, Philippine Stock Exchange, Singapore Exchange Group, and Vietnam Exchange. One of the key objectives centering this summit was the development of a central set of sustainability metrics that complies with globally accepted standards and proven practices.
During the vibrant session, the representatives from these six influential ASEAN exchanges exchanged ideas on initiatives aimed at boosting Environmental, Social, and Governance (ESG) collaboration across the region. The goal? To uplift the ASEAN stock markets and cultivate sustainable investments, fostering an environment that breeds long-term financial growth and prosperity.
At the heart of the dialogue was the synergy within ASEAN Exchanges and the potential held by the connectivity opportunities via depository receipts cooperation. The ASEAN Exchanges consortium pledged to collectively dive deeper into new avenues that might augment their offerings and consolidate their regional stand.
Pakorn Peetathawatchai, the SET President, addressed the assembly and articulated the ASEAN Exchanges’ shared commitment to establishing a scaffold for cooperation in a variety of sectors. The intention is to elevate the ASEAN capital markets, enhance the culture of sustainability and sustainable investments, and develop interconnected products that would broaden the horizon of investment opportunities.
“The growth pace and potential of the region underline the ASEAN Exchanges’ shared vision of showcasing the ASEAN market as a premier investment opportunity,” said Pakorn. “We have had in-depth discussions about enhancing the visibility of ASEAN Exchanges to international investors. Our conversation focused on promoting cross-border products, leveraging the markets’ complementarity, and raising the bar for the prominence of ESG issues as crucial deciding factors for potential investors. To achieve this, the ASEAN Exchanges has come up with common ESG metrics that would serve as a navigational guide for our companies to connect with international investors and bring capital flows into the region.”
In this meeting, ASEAN Exchanges agreed upon a set of 10 Governance metrics. These new additions join the previously announced metrics pertaining to Environment and Social issues to complete the ESG triad. The core metrics are designed to be a common platform for member stock exchanges to build upon and promote sustainability amongst their listed companies. This initiative is poised to stimulate the disclosure of consistent EGG information on crucial topics. Importantly, the core metrics anchor sustainable investments across the region, aligning with an upward global trend.
Along with the top honchos from the six exchanges, the event had dignitaries from the Cambodia Stock Exchange and Lao Securities Exchange. For more insights about trading, listed companies, and activities, you can explore the ASEAN Exchanges website at www.aseanexchanges.org.
In a nutshell, SET and its ASEAN counterparts are committed to making it work for everyone. Stay connected with them on Twitter @SET_Thailand_EN for the latest updates and market trends.
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