The United Nations Sustainable Stock Exchanges (SSE) initiative convened market leaders at COP29 to promote sustainable finance as a critical tool in addressing the climate crisis.
In collaboration with global regulators, exchanges, and financial institutions, the UN SSE hosted three major events over two days, focusing on harnessing capital markets to drive environmental sustainability
Exchanges and climate action:
Financing the net zero transition: Blue Zone High-Level Event (in collaboration with IOSCO, 14 November 2024)
On Finance Day, November 14th, the SSE co-hosted a high-level event in the Blue Zone, in partnership with the International Organization of Securities Commissions (IOSCO). This gathering brought together senior policymakers, regulators, stock exchanges, and institutional investors to discuss the pivotal role of sustainable capital markets in mitigating climate risks and transitioning to a net zero emissions economy. Speakers from the following organizations participated in the discussion: Baku Stock Exchange, Bulgaria Stock Exchange, Carbon Disclosure Project (CDP), Clairy AI, Financial Regulatory Authority of Egypt, International Finance Corporation (IFC) International Organisation of Securities Commission (IOSCO), International Sustainability Standards Board (ISSB), the Organisation for Economic Co-operation and Development (OECD), the Spanish Financial Markets Authority and UNEP-FI. The deliberations focused on strengthening corporate climate disclosure, innovating climate finance and supporting markets on their journey to net zero. The event underscored the importance of regulatory cooperation in scaling up green investments and delivering on the goals of the Paris Agreement.
Speakers highlighted:
Jean-Paul Servais, Chair, IOSCO: "Climate transition plans are becoming increasingly used by companies. Last week, the IOSCO board approved a comprehensive report on transition plan disclosures. Comparable, consistent and reliable disclosures of transition plans may have a positive effect on market participants’ ability to make informed decisions, ultimately benefiting both investors and the integrity of the capital markets. IOSCO welcomes the ISSB’s announcement on developing educational materials in this area."
“The Bulgarian Stock Exchange and stock exchanges worldwide play a crucial role in advancing and, above all, stimulating green transformation. We encourage and support businesses to become more carbon-neutral" Mr Manyu Moravenov (CEO, Bulgaria Stock Exchange) said. “This is achieved through issuing bonds, and providing ratings, and indices that help strengthen the business ethics of companies, making it easier to identify those that are more sustainable."
UN SSE
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