Mumbai, Oct 19: The Bombay Stock Exchange Ltd (BSE Ltd) Friday announced that it has joined five other leading exchanges in its commitment to promote sustainable investment practices, an official said.
The other exchanges are the Brazilian stock exchange BM & FBOVESPA, Egyptian Exchange (EGX), Istanbul Stock Exchange (ISE), Johannesburg Stock Exchange (JSE) and NASDAQ OMX of the US.
These made a commitment towards improving sustainability at the Sustainable Stock Exchanges (SSE) 2012 global dialogue in Rio de Janeiro earlier this year.
Talking about the development, Ashishkumar Chauhan, interim CEO of BSE said the exchange is committed to working with investors, companies and regulators in playing a transformative role towards enhancing sustainability in Indian capital markets.
“We are hopeful that this initiative would help us in further introducing a culture of sustainable business practices amongst BSE’s listed companies,” he said.
BSE Ltd is also credited with launching the first-ever live Carbon Index BSE-GREENEX in the Indian markets, earlier in 2012. The index measures the performances of companies in terms of carbon emissions.
The SSE initiative was launched by UN Secretary-General Ban Ki-moon and UNCTAD Secretary-General Supachai Panitchpakdi in 2009 at UN Headquarters in New York City.
The SSE aims at exploring how exchanges can work together with investors, regulators, and companies to enhance corporate transparency – and ultimately performance – on ESG (environmental, social and corporate governance) issues and encourage responsible long-term approaches to investment.