The Colombo Stock Exchange (CSE) joined the United Nations Sustainable Stock Exchanges (SSE) initiative, a partnership among the UN, UN-supported organizations, stock exchanges, investors, companies, regulators and governments around the world. The chairman of Colombo Stock Exchange Vajira Kulatilaka made the public announcement of its entrance to SSE during a special Leadership Luncheon on September 24, 2015, at the New York Stock Exchange.
The SSE Initiative, launched by UN Secretary General Ban Ki-moon in 2009, aims to explore how exchanges can work together with investors, regulators and companies to promote sustainability initiatives. Over the years it has contributed to enhance corporate transparency on Environmental, Social, and corporate Governance (ESG) issues and encourage responsible long-term approaches to investment.
The Chairman of CSE, Vajira Kulatilaka commented: “I believe that being part of the Sustainable Stock Exchange initiative demonstrates our commitment towards adopting sustainable business practices. We endeavor to engage with our stakeholders, and collectively work towards sustainable policy initiatives which will help us create better corporate citizens in the areas of environment, society and governance.”
“CSE wishes to publicly demonstrate its commitment to sustainability, while promoting better business practices within the Sri Lankan Capital Market. Moreover, CSE encourages listed companies to measure and publicly report their ESG performance and impacts,” Chief Executive Officer of the CSE Rajeeva Bandaranaike said.
Sutheash Balasubramaniam, Sri Lanka Representative/Director of the UN Global Compact Network Sri Lanka Commented: “The Board Members of UN Global Compact Network Sri Lanka are encouraged by the Colombo Stock Exchange partnering UN Sustainable Stock Exchange with a focus to drive responsible investment and sustainable business. This partnership will enhance the global positioning of CSE while creating a platform for the Sri Lankan capital market to be abreast with international trends. UNGC Sri Lanka Network will support CSE in building a sustainable stock exchange of greater value.”
Every two years the SSE initiative hosts its flagship event, the SSE Global Dialogue. It brings together leaders from stock exchanges, regulators, investors and companies to share best practices, and releases a SSE Report on Progress to coincide with the Global Dialogues.
CSE would get the privilege of accessing wide range of resources to support the implementation of sustainability initiatives in the form of events, webinars, workshops, publications and other potential work streams that contribute to the overall mission of the SSE initiative. In addition, CSE wishes to attract foreign and local investors seeking sustainable investment opportunities.