- Bursa Malaysia Berhad (Bursa Malaysia)
- Indonesia Stock Exchange (IDX)
- The Stock Exchange of Thailand (SET), and
- Singapore Exchange (SGX Group),
Collectively referred to as Participating Exchanges in this context, have announced a collaboration on the ASEAN-Interconnected Sustainability Ecosystem (ASEAN-ISE).
Wow. Sounds good.
What is the objective?
The collaboration aims to advance ASEAN’s sustainable development through the implementation of common ESG metrics in their respective data infrastructures.
The ASEAN-ISE initiative was formalised at a recent meeting between the Partner Exchanges, marking an agreement on the foundational governance structure and operational blueprint for building the inter-connected sustainability ecosystem.
Bursa Malaysia will serve as the ASEAN-ISE Secretariat to facilitate the successful execution of its objectives. ✌
The intended outcomes of the ASEAN-ISE initiative include:
- Creating an integrated ESG ecosystem to promote the progress of sustainable development in ASEAN.
- Enabling Participating Exchanges to achieve economies of scale through cost efficiency and faster time-to-market with fit-for-purpose solutions.
- Empowering Participating Exchanges to proactively assist ESG-compliant corporates in maximising business value through quality disclosures. This involves developing infrastructure solutions to facilitate cross-border trade flows, connecting corporates’ supply chains to ESG-oriented investment capital, and providing suppliers with good ESG practices and disclosures to secure more competitive financing rates.
“This most recent development aligns with our intent to broaden participation from exchanges in the ASEAN region and beyond,” said Datuk Muhamad Umar Swift, CEO of Bursa Malaysia.
“Together, we envisage an open and inclusive ecosystem in which Participating Exchanges in ASEAN operate a trusted, and fundamentally aligned data infrastructure. This will be supported by comprehensive sets of modular-based, fit-for-purpose and cost-efficient solutions that can be deployed in response to the Participating Exchanges’ specific market needs and conditions.”
More information about the ASEAN-ISE initiative is available at https://www.aseanexchanges.org/content/interconnected-sustainability-ecosystem-initiative/ .
Source: Bursa Malaysia
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