BSX signs up for UN sustainability initiative

The Bermuda Stock Exchange (BSX) has joined the United Nations (UN) Sustainable Stock Exchanges (SSE) initiative as a partner exchange.

The SSE initiative is a peer-to-peer learning platform that encourages exchanges to enhance corporate transparency, and thereby performance, on environmental, social and corporate governance (ESG) issues, in collaboration with investors, regulators, and companies. It is hoped this will encourage sustainable investment.

As a member of the World Federation of Exchanges (WFE), the BSX has embraced ESG principles, which Greg Wojciechowski, the BSX’s president and chief executive officer, said are a growing priority for WFE member exchanges.

Bermuda’s re/insurance industry has played a leadership role in climate finance and insurance linked securities, he added, which address the global protection gap and enhance resilience when dealing with changing climate.

“As an integral part of this market, the BSX will soon be issuing ESG guidelines for our listed issuers which will provide an opportunity to take an active and important leadership role in promoting sustainable business practices,” said Wojciechowski.

The SSE initiative was launched in 2009 and has more than 100 partner exchanges around the world. It focuses on the 17 sustainable development goals (SDGs), as agreed by the General Assembly within the 2030 Agenda for Sustainable Development.

The SSE initiative is a UN Partnership Programme, organised by UNCTAD, the UN Global Compact, UNEP Finance Initiative and the Principles for Responsible Investing.