Quantcast
Latest Stories

Promote sustainable investments, Unctad urges SE Asia bourses

By

BANGKOK, Thailand—Stock exchanges in Southeast Asia including the Philippine Stock Exchange were urged by the United Nations Conference on Trade and Development (Unctad) to commit to promoting sustainable investment.

In a symposium here Monday, Unctad secretary general Supachai Panitchpakdi called on stock markets in the region to join the Sustainable Stock Exchanges (SSE).

The SSE initiative, launched in 2009, invites exchanges to voluntarily commit to work with investors, companies and regulators in promoting long-term sustainable investment and better environmental, social and corporate governance disclosure and performance among listed companies.

It is co-organized by Unctad, the UN Global Compact, UN-backed Principles for Responsible Investment and UNEP Finance Initiative.

“I would like the stock markets in Asean to do it,” said Supachai during the SCG (Siam Cement Group) Asean Sustainable Development Symposium in Bangkok, Thailand.

So far, the Brazilian stock exchange, Egyptian Exchange, Istanbul Stock Exchange, Johannesburg Stock Exchange, Nasdaq and Bombay Stock Exchange have publicly committed to promote sustainable trading.

Listed companies must have disclosures on corporate sustainability, he added, stressing the importance of the private sector in achieving sustainability.

“At the moment, [there’s] the CSR scorecard in Asean and that is a good beginning,” Supachai said.

The Philippines has adopted the use of a regional scorecard to assess the corporate governance initiatives of local firms in a bid to increase investments in the country.

Further, he noted the need to educate the public about sustainable development.

“If the public is aware, they would put pressure on the business and put pressure on the government,” Supachai said.

The symposium, organized by Thai diversified conglomerate SCG, gathered the region’s leading executives who are keen on fostering sustainable businesses.

SCG, which manufactures tiles and paper in the Philippines through Mariwasa Siam Ceramics Inc. and United Pulp and Paper Co. Inc. (UPPC), respectively, has been listed by Dow Jones Sustainability Indexes as a leader in building materials and fixtures sector.

SCG’s other operations in the Philippines include CPAC Monier Philippines Inc., SCG Trading Philippines Inc., Green Siam Resources Inc., Green Alternative Technology Specialist Inc. and SCG Marketing Inc.


Follow Us


Follow us on Facebook Follow on Twitter Follow on Twitter


Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: Asia , Markets and Exchanges , stock exchanges , Stock Markets , sustainable investments , United Nations Conference on Trade and Development (Unctad)



Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
Advertisement
Advertisement

News

  • 2 teenagers killed in Mlang, North Cotabato
  • No sympathy from North Korea over ferry disaster
  • 4 French journalists freed from Syria captors home
  • De Lima on Gigi Reyes: Let’s wait and see
  • South Korean relatives divided over whether to raise ferry
  • Sports

  • Pacquiao courtesy call to Aquino set for Monday
  • Nick Calathes suspension a reminder of supplement risk
  • Teague scores 28 as Hawks soar past Pacers in Game 1
  • Warriors beat Clippers in playoff opener
  • Pacquiao top Mayweather contender
  • Lifestyle

  • Britain’s baby Prince George visits Australian zoo
  • Noli Yamsuan, Cardinal Sin’s ‘official’ photographer: ‘I could smell the aftershave lotion of the Pope’
  • Simplifying and lightening life
  • Where to go for Easter night-out
  • Joe de Venecia visits the Queen Mother of Cambodia
  • Entertainment

  • Show-biz celebrities’ other choices of summer getaway
  • Why ‘Noah’ can’t dock his ark at Philippine theaters
  • Acclaimed artist goes wild while on holiday
  • Believing in this mermaid
  • Missing Xian
  • Business

  • Top-selling insurance agent opens her dream café
  • Connecting and transacting with one another
  • Building wealth for health
  • Why Mandaue Foam buys, rather than rents, space
  • A workplace of new possibilities
  • Technology

  • Nasa’s moon-orbiting robot crashes down
  • Netizens pay respects to Gabriel Garcia Marquez
  • Nokia recalls 30,000 chargers for Lumia 2520 tablet
  • Facebook rolls out ‘nearby friends’ feature
  • Netizens seethe over Aquino’s ‘sacrifice’ message
  • Opinion

  • Epiphany
  • Unpaid creditor vs distressed debtor
  • Moving on
  • From culinary desert to paradise
  • Response to China: ‘Usjaphil’
  • Global Nation

  • Asia seeks Obama’s assurance in territorial spats
  • Cesar Chavez movie sparks memories of Fil-Am labor leaders
  • Filipinos in US poised for success
  • Visas for priests and other faith leaders
  • DOH to continue tracking co-passengers of OFW infected with MERS virus
  • Marketplace