Dhaka Stock Exchange Limited has become a partner exchange of the United Nations Sustainable Stock Exchange (SSE) initiative with a view to improve transparency of the country’s capital market.
To this end, Dhaka Stock Exchange Limited (DSE) has signed a commitment letter with the United Nations Sustainable Stock Exchange (SSE) initiative, said a DSE press release issued on Monday.
By signing the agreement, DSE joined nearly 75 stock exchanges worldwide committed to share information and work with stakeholders to promote the sustainability and transparency of capital markets.
The SSE initiative is a United Nations (UN) initiative, working as a partnership between the UN, UN-supported organizations, stock exchanges, investors, companies, regulators and governments.
‘We are delighted to join the UN SSE initiative on 7 June 2018,’ DSE managing director KAM Majedur Rahman said.
This collaboration with SSE Initiative will offer DSE an opportunity to deliver internationally renowned ESG reporting expertise in Bangladesh, which would be of benefit to all our capital market stakeholders,’ he said.
‘As the leading exchange of Bangladesh with 95 per cent share in total market turnover, DSE is aware of corporate transparency and performance in respect to environmental, social and corporate governance (ESG) issues of listed companies,’ Majedur said.
This year DSE started arranging joint workshops for listed companies to promote long term sustainable investment and improved environmental, social and corporate governance disclosure and performance among companies listed on the exchange, he said.
‘In our first workshop with about 30 listed companies held in May this year, we observed keen interests among the participants for sustainability reporting and corporate transparency,’ the DSE MD said.
‘We are very pleased to note that a good number of DSE listed companies has been reporting on sustainability, he said.
‘We firmly believe that collaboration of DSE with SSE Initiative will strengthen our efforts and bring a better outcome in promoting sustainable investment and reporting in Bangladesh,’ Majedur said.
The SSE aims to provide an effective platform for peer-to-peer dialogue among global exchanges.
By exploring how stock exchanges can work together with investors, regulators and companies, the SSE hopes to encourage sustainable investment,
SSE also emphasise on enhancing corporate transparency and performance in respect to environmental, social and corporate governance (ESG) issues.
Stock exchanges can encourage responsible investments by offering sustainability indices and other relevant financial instruments.
Moreover, by encouraging their listed companies to measure and publicly report their ESG performance and impacts, stock exchanges can promote better business practices within their capital markets.
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