Stockholm (NordSIP) An Environmental, Social and Corporate Governance (ESG) reporting guide was launched today (March 23) by Nasdaq’s Nordic and Baltic exchanges. The exchanges in Stockholm, Helsinki, Copenhagen, Reykjavik, Tallinn, Riga and Vilnius have combined to issue a support program on ESG disclosure to support their listed companies, a Nasdaq press release informed.
“By launching this voluntary guide, our aim is to further engage, encourage and support our listed companies in addressing critical ESG matters. The launch reinforces the mission of Nasdaq Nordic to provide fair, transparent and efficient markets for all stakeholders,” said Lauri Rosendahl, President of Nasdaq Nordic. “Many of the companies listed on the Nasdaq Nordic and Baltic exchanges are already global leaders in sustainability reporting.”
Nasdaq Nordic aims to create a framework that will support those of its listed companies that endeavour to meet ESG disclosure requirements. Its proposed guide therefore reflects existing recommendations issued by the United Nations Sustainable Stock Exchanges (UN SSE) initiative launched in 2015, as well as recommendations from the World Federation of Exchanges’ Sustainability Working Group and the leading industry standards on ESG reporting, alongside the European Union directive on non-financial reporting.
As the guide is voluntary and non-binding, it does not supersede any existing reporting framework, and therefore does not add to the regulatory burden. Instead, it acts as an informational reference for listed companies that seek support in their ESG implementation.
“To support us in reaching even better and more broad-based ESG reporting and hence better markets, we invite our listed companies, investors and other stakeholders to give us their feedback on ESG reporting and the guide. We will also consider market specific supplements to the guide to support anchoring it on a national level in our seven markets,” said Adam Kostyál, Nasdaq’s Senior Vice President and Head of European Listings.
By issuing this guide, the Nordic and Baltic exchanges fulfil their commitment to the UN SSE’s Campaign to Close the ESG Guidance Gap, which they made in 2015. Nasdaq was one of the UN SSE initiative’s founding partner exchanges in 2012.
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