Bangkok, SET joins forces Stock Exchanges of Malaysia, Singapore and Indonesia Connecting the sustainability ecosystem of the ASEAN Stock Exchange (ASEAN-ISE) according to ESG guidelines The Stock Exchange of Thailand (SET), Malaysia Stock Exchange (Bursa Malaysia), Singapore Stock Exchange (Singapore Exchange) and Indonesia Stock Exchange (Indonesia Stock Exchange) jointly set the direction for the development of the sustainability ecosystem. under the project 'Connecting the sustainability ecosystem in ASEAN' (ASEAN-ISE) brings together environmental, social and governance indicators. (Environmental, Social, Governance: ESG) is a guideline for developing sustainable infrastructure to be connected and consistent. To jointly drive the sustainable development of ASEAN The ASEAN-ISE project aims to create an integrated ESG ecosystem to promote the advancement of sustainable development in ASEAN. By 2023, the Stock Exchange of Thailand Has signed a memorandum of understanding (MOU) with the Malaysian Stock Exc hange and the Indonesian Stock Exchange. To study and develop the sustainability ecosystem The Singapore Stock Exchange is the latest stock exchange to sign this cooperation. Mr. Phakorn Peetathawatchai, Director and Manager The Stock Exchange of Thailand revealed that ASEAN stock exchanges have continuously cooperated with each other to develop a sustainable capital market ecosystem that connects and takes into account all groups of stakeholders in every dimension to be sustainable and flexible. To create positive results for society, the economy, and the world, reflecting the cooperation and emphasis on sustainability of the region's major stock exchanges. ASEAN Stock Exchanges will join in setting ESG standards for responsible business operations. And each stock exchange will use indicators to set guidelines to drive sustainability of listed companies and the capital market. Datuk Muhammad Umar Swift, Chief Executive Officer The Malaysian Stock Exchange said that this partnership is in line with the Mala ysia Stock Exchange's commitment to expand cooperation with ASEAN and other stock exchanges. Under this cooperation, reliable and consistent data infrastructure will be developed. It will be a modular system that can be adjusted according to the intended use. and emphasize the worthiness of costs to meet the specific needs of each market Mr. Lo Bun Chai, Chief Executive Officer The Singapore Stock Exchange revealed that the impacts of climate change in the region are an urgent issue that requires action. Two years ago, the Singapore Stock Exchange launched SGX ESGenome, a platform that facilitates listed companies in disclosing information on sustainability and climate Participating in the MOU signing this time will help create consistent ESG disclosure standards. To drive the capital market towards sustainability and be able to deal with climate change in the region by exchanging knowledge and working together. Mr. Iman Rakman, Managing Director The Indonesia Stock Exchange revealed that the Singapore Stoc k Exchange's participation in the ASEAN-ISE project reflects the strong cooperation among ASEAN stock exchanges to build a sustainable financial ecosystem of the ASEAN capital market. This is an important step in promoting concrete action after the ASEAN Stock Exchange announced ESG indicators last year. Leads to the promotion of responsible business operations. The ASEAN-ISE project was officially established at a meeting between the four stock exchanges, collectively known as the "Partner Stock Exchanges", with the Malaysian Stock Exchange acting as the ASEAN-ISE Secretariat to facilitate and drive operations to meet the goals. which includes Creating an integrated ESG ecosystem to promote the advancement of sustainable development in ASEAN. Help stock exchange partners Able to manage time and costs effectively Ready to provide services that meet the objectives Empowering ESG compliant businesses to increase business value through quality disclosure. This includes developing infrastructure to facilit ate cross-border trade. Linking business supply chains with ESG-focused investments Partner Exchange They agreed to jointly drive results that take into account local factors and the readiness of each stock exchange. Importantly, the partner exchanges are committed to bringing sustainability indicators of ASEAN stock exchanges to the ESG reporting platform. In this regard, the ASEAN Stock Exchanges will hold an exchange meeting to finalize details before setting the official operational guidelines for the ASEAN-ISE project again at the 37th ASEAN Exchanges CEOs Meeting, which will be held in July 2024 in Malaysia. Those interested can follow for more information on the project. 'Interconnected sustainability ecosystems in ASEAN' (ASEAN-ISE) at https://www.aseanexchanges.org/content/interconnected-sustainability-ecosystem-initiative/. Source: Thai News Agency