The Nairobi Securities Exchange (NSE) has joined the United Nations Sustainable Stock Exchanges (SSE) which was launched by United Nations Secretary-General Ban Ki-moon in 2009, becoming the eighteenth member of the SSE worldwide and the fourth in Africa alongside the Egyptian Exchange, the Nigerian Stock Exchange and the Johannesburg Stock Exchange.
“The Exchange is honored to collaborate with the SSE initiative as this is in line with our commitment to develop sustainable capital markets that will create long term value for all our stakeholders. We endeavor to challenge ourselves and others in the market to build a resilient, sustainable economy that optimizes the quality of life for all” said Mr. Geoffrey Odundo, the Chief Executive of the NSE. He added “The Exchange also continues to champion sustainability through various initiatives such as the Excellence in Financial Reporting (FiRe) Awards and the NSE Leadership and Diversity Dialogue Series.”
The SSE initiative which is co-organized by The United Nations Conference on Trade and Development (UNCTAD), the United Nations Global Compact, the United Nations Environment Programme‟s Finance Initiative, and the UN-supported Principles for Responsible Investment explores how stock exchanges can work together with investors, regulators and issuers to enhance corporate transparency – and ultimately performance – on environmental, social and corporate governance (ESG) issues while encouraging responsible long-term approaches to investment.
“Kenya is the biggest economy in East and Central Africa and a critically important market for promoting sustainable development practices in the region,” said Mr. James Zhan, Director, Investment and Enterprise Division UNCTAD. We are delighted that the Nairobi Securities Exchange is joining the Egyptian Exchange, the Nigerian Stock Exchange and the Johannesburg Stock Exchange, as well as other leading exchanges around the world, in pledging to promote sustainable business practices.”
“We welcome the dynamism that Nairobi Securities Exchange can bring to promoting investment in sustainable development,” said Dr. Mukhisa Kituyi, Secretary General of the United Nations Conference on Trade and Development (UNCTAD). “The NSE can play an important role in the quest for innovative development finance and a reorientation of financial markets towards sustainable development outcomes.”
Other exchanges that are a part of the SSE include the New York Stock Exchange, London Stock Exchange Group, NASDAQ OMX, the Bombay Stock Exchange, Borsa Istanbul, BM&FBOVESPA (Brazil), Johannesburg Stock Exchange, Egyptian Exchange, and the Nigerian Stock Exchange among others.
Sustainable Stock Exchanges (SSE) Initiative
The Sustainable Stock Exchanges (SSE) Initiative is a peer-to-peer learning platform for exploring how exchanges, in collaboration with investors, regulators, and companies, can enhance corporate transparency – and ultimately performance – on ESG (environmental, social and corporate governance) issues and encourage sustainable investment.
Created by the United Nations in 2009, the SSE was named by Forbes magazine as one of the „World’s Best Sustainability Ideas‟ and was a finalist for the 2011 Katerva Sustainability Award.
