KUALA LUMPUR (Feb 15): The stock exchanges from Malaysia, Indonesia, Thailand, and Singapore have collaborated on the Asean-Interconnected Sustainability Ecosystem (Asean-ISE) to advance Asean’s sustainable development through the implementation of common environmental, social and governance (ESG) metrics in their respective data infrastructures.

The exchanges are Bursa Malaysia Bhd, the Indonesia Stock Exchange (IDX), the Stock Exchange of Thailand (SET) and the Singapore Exchange (SGX Group), whereby Bursa Malaysia will serve as the Asean-ISE Secretariat to facilitate the successful execution of its objectives.

In a joint statement on Thursday, the participating exchanges said the intended outcomes of the Asean-ISE initiative include creating an integrated ESG ecosystem to promote the progress of sustainable development in Asean and enabling participating exchanges to achieve economies of scale through cost efficiency and faster time-to-market with fit-for-purpose solutions.

“The participating exchanges have agreed upon outcome-driven collaboration deliverables that take into account local considerations and maturity level of their respective markets, as part of the Asean-ISE implementation.

“Significantly, the participating exchanges will commit to adopting and implementing the ‘Asean Exchanges Common ESG Metrics’ in their ESG reporting platforms,” the entities said.

Bursa Malaysia chief executive officer (CEO) Datuk Muhamad Umar Swift said this most recent development aligned with the exchange’s intent to broaden the participation from exchanges in the Asean region and beyond.

“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,” he said.

According to the statement, the participating exchanges will reconvene to finalise the implementation details before formalising the ISE Governance Framework and Operating Structure at the 37th Asean Exchanges CEOs Meeting, scheduled to be held in July 2024 in Malaysia.

Other exchanges interested in learning more about the Asean-ISE initiative can contact Bursa Malaysia at isb@bursamalaysia.com.
 

https://www.theedgemarkets.com/node/701031