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ESG leaders from WFE, Nasdaq, SIX Group and B3 preview sustainability and market insights ahead of Dec. 5 WFE event at COP28

Sally Duros

Sally Duros

Freelance Editor


The World Federation of Exchanges is holding a special event jointly with WFE members in Dubai on Dec. 5, which is “Just Transition Day” at COP28. The ESG podcast for John Lothian News talked with ESG leaders from members of the World Federation of Exchanges about the upcoming discussion and how exchanges are continuing to support the implementation of the Paris Agreement on Climate Change. Panelists at the WFE COP28 event will address regulation, green equities, voluntary carbon markets (VCMs), and just transition. The Dec. 5 WFE event features a keynote by Rostin Behnam, chairman of the Commodity Futures Trading Commission.

Nandini Sukumar, CEO of WFE, opened the conversation and introduced Victoria Powell, senior manager, ESG regulatory affairs for the World Federation of Exchanges. Also on the roundtable were members of the WFE Sustainability Working Group: Cesar Sanches, head of sustainability, B3; Tomas Thyblad, head of ESG solutions, European Markets, Nasdaq; and Martina Macpherson, head of ESG Product Strategy & Management, SIX Group. 

In opening the ESG Roundtable, Sukumar highlighted how exchanges have actively addressed ESG concerns for the past two decades, given their unique position at the heart of the financial system, interacting with issuers, regulators, investors, and more. She also addressed the WFE’s recent ninth annual sustainability survey. 

Green equities emerged as a focal point in the conversation, with exchanges like NASDAQ actively supporting the sustainability journeys of their listed companies. The introduction of frameworks enabling transparent and structured sustainability reporting for corporates has not only attracted investors but also helped companies showcase their sustainable practices.

VCMs are the current trend in the carbon markets. Martina Macpherson from SIX Group highlighted the importance of aligning issuers with regulatory disclosures and investor preferences, and building analytical solutions to navigate the complex ESG landscape.

Victoria Powell focused on the aspect of ‘just transition,’ ensuring that no one is left behind in the shift towards sustainability. She emphasized how exchanges are actively promoting diversity and inclusion, exemplified by initiatives like B3’s gender diversity index, which promotes companies valuing diversity in leadership positions.

The discussion also encompassed the need for clarity and standardization in carbon markets, highlighting the necessity for global treaties, regulatory interventions, and established definitions of carbon credits. Executives emphasized the unique positions of their exchanges, offering top-level overviews of investor trends and corporate initiatives.

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