NAIROBI (Xinhua) --
Kenya’s Nairobi Securities Exchange (NSE) has
joined the United Nations Sustainable Stock Exchanges (SSE) to
promote transparency and performance on corporate sustainability
practices, has said.
By joining the SSE, which was
launched by UN Secretary-General Ban Ki-moon in 2009, the NSE
has become its 18th member globally, and the fourth in Africa
alongside the Egyptian Exchange, the Nigerian Stock Exchange and
the Johannesburg Stock Exchange.
"The NSE is honored to collaborate with the SSE project
as this is in line with our commitment to develop a
sustainable capital market that will create sustainable
value for all the stakeholders, " NSE CEO Geoffrey Odundo
He said the NSE is seeking to promote capital markets
that finance development and support the needs of present
generations, without impacting negatively on the quality of
life of future generations.
The SSE explores how stock exchanges can work together with
investors, regulators and companies to enhance corporate
transparency, and ultimately performance on environmental,
social and corporate governance (ESG) issues while encouraging
responsible long-term approaches to investment.
It is co-organized by the UN Conference on Trade and
Development (UNCTAD), the UN Global Compact, the UN Environment
Program’s Finance Initiative, and the UN-supported Principles
for Responsible Investment.
UNCTAD Director of Investment and Enterprise Division,
James Zhan said Kenya is the biggest economy in East and
Central Africa and a critically important market for
promoting sustainable development practices in the region.
"We are delighted that the NSE is joining us to promote
sustainable business practices," Zhan said.
UNCTAD Secretary-General Mukhisa Kituyi said NSE can play
an important role in the quest for innovative development
finance and a reorientation of financial markets towards
sustainable development outcomes.
"We welcome the dynamism that the NSE can bring to
promoting investment in sustainable development," he said.