SET hosted the 36th ASEAN Exchanges CEOs Meeting

Editorial Staff

ASEAN Exchanges jointly establish internationally aligned sustainability metrics during the 36th ASEAN Exchanges CEOs Meeting hosted by SET
The Stock Exchange of Thailand (SET) hosted the 36th ASEAN Exchanges CEOs Meeting on September 8, 2023. Bursa Malaysia, Indonesia Stock Exchange, Philippine Stock Exchange, Singapore Exchange Group, Vietnam Exchange, and SET collaborated to develop a set of core sustainability metrics that are aligned to international standards and established practices. During the event, leaders from the six exchanges in ASEAN discussed initiatives to further enhance ESG collaboration within the region, aiming to level up the ASEAN stock markets and foster sustainable investments.

The CEOs recognised the complementarity of ASEAN Exchanges and the potential from market connectivity opportunities through depository receipts cooperation. The ASEAN Exchanges are working together to explore ways to further enhance products and regional promotion.

SET president Pakorn Peetathawatchai said that the six ASEAN Exchanges had been working together to create a framework for collaboration in diverse areas to elevate the ASEAN capital markets, including driving sustainability and sustainable investment, and developing interconnected products to expand investment opportunities.

“As the region grows, the ASEAN Exchanges are committed to entrench the ASEAN market as an investment opportunity. The CEOs of ASEAN Exchanges extensively discussed how to further promote cross-border products and build on the complementarity of our markets, and enhance ASEAN Exchanges visibility to international investors. ESG issues have also gained prominence at the global level and serve as key factors for investors when making investment decisions. The ASEAN Exchanges common ESG metrics therefore provide a guidepost for our companies in reaching international investors and facilitating capital flows into the region” said Pakorn.

The ASEAN Exchanges agreed on 10 Governance (G) metrics at this meeting, which complement the previously announced metrics related to Environment (E) and Social (S) issues. Together, the core metrics will serve as a common basis for member stock exchanges to build upon in order to drive sustainability among their listed companies.