ASEAN Exchanges to Develop Sustainability Ecosystem

Bursa Malaysia, Indonesia Stock Exchange (IDX), the Stock Exchange of Thailand (SET), and Singapore Exchange (SGX) have joined forces to create the ASEAN-Interconnected Sustainability Ecosystem (ASEAN-ISE). The collaboration aims to advance ASEAN’s sustainable development by implementing common ESG metrics in data infrastructures. The ASEAN-ISE initiative was formalised at a recent meeting between the four exchanges, which agreed on the foundational governance structure and operational blueprint for building the interconnected sustainability ecosystem. It seeks to create an integrated ESG ecosystem, promoting sustainable development in ASEAN, achieving economies of scale for participating exchanges, and empowering them to support ESG-compliant corporates. The next steps involve finalising the implementation details of the initiative and formalising the ASEAN-ISE Governance Framework and Operating Structure at the 37th ASEAN Exchanges CEOs Meeting in Malaysia in July. As part of the implementation, the participating exchanges have agreed on outcome-driven collaboration deliverables that take into account local considerations and the maturity level of their respective markets. The four exchanges will commit to adopting and implementing the ASEAN Exchanges Common ESG Metrics in their ESG reporting platforms. The initiative was first announced last September when Bursa Malaysia, IDX and SET signed an MoU to collaborate on developing an ‘inter-regional ESG linked ecosystem’ on the sidelines of the 36th ASEAN Exchanges CEOs Meeting. The addition of SGX to this ecosystem signifies robust collaboration among ASEAN stock exchanges to strengthen the sustainable finance ecosystem in ASEAN capital markets, said according to Iman Rachman, President Director at IDX.



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