While recent gains on the NYSE may or may not be sustainable, at least the exchange itself is. Global exchange operator NYSE Euronext, the world’s only carbon-neutral international exchange operator, has joined the United Nations’ Sustainable Stock Exchanges (SSE) Initiative, an international initiative to promote sustainable investment and improve corporate behavior.
NYSE Euronext is pledging to discover how ‘exchanges can work together with investors, regulators and companies to enhance corporate transparency on ESG issues and encourage responsible long-term approaches to investment,’ according to a press release.
The SSE, which includes NASDAQ OMX, Bombay Stock Exchange, Johannesburg Stock Exchange and five other exchanges, is backed by the UN-supported Principles for Responsible Investment and seeks to promote dialogue between the various market players to find ways to enhance both governance and corporate performance.
‘As the only carbon-neutral global exchange group, we are proud to join the SSE Initiative and partner with the UN and our industry to support best practices in corporate governance and transparency related to corporate sustainability,’ says Duncan Niederauer, CEO of NYSE Euronext. ‘We lead by example by running our business in an environmentally responsible manner.’
NYSE Euronext achieved carbon-neutral status for a third straight year in 2012, according to the company. It was also added to the Carbon Disclosure Project’s S&P 500 Carbon Performance Leadership Index last year and received a green power leadership award from the Environmental Protection Agency.
UN Secretary-General Ban Ki-moon, who rang the bell to close the trading day at the NYSE, commended the exchange for joining the SSE Initiative and called on its competitors to follow suit.
‘The addition of the world’s largest stock exchange to this group is a significant step forward, signaling the importance and relevance of sustainability to the private sector around the world,’ he said. ‘I thank NYSE Euronext for committing to the SSE Initiative, and I urge stock exchanges around the world to follow its lead.’
