Fiji’s South Pacific Stock Exchange (SPX) has officially joined the United Nations Sustainable Stock Exchanges (UN SSE) initiative, aligning itself with a global network of over 130 exchanges focused on promoting sustainable development. This significant admission underscores SPX’s dedication to fostering sustainable finance and responsible investment practices.
SPX’s CEO, Sheraj Obeyesekere, emphasized that joining the UN SSE signifies a collective commitment among stock exchanges worldwide to drive responsible investment and sustainability within capital markets. He stated, “This is a timely and important step as we build a market that not only supports economic growth but also drives responsible and inclusive development.”
Given that the Pacific region is particularly vulnerable to climate change, embedding sustainability in financial practices is not just a matter of good governance but essential for resilience and long-term value creation. By being part of the UN SSE, SPX will gain access to valuable global resources, best practices, and opportunities to collaborate with peers, particularly regarding initiatives focused on green finance, sustainability reporting, and stakeholder engagement.
The admission of SPX is part of a broader trend, as evidenced by the simultaneous admission of the Trinidad and Tobago Stock Exchange (TTSE), both symbolizing the increasing focus on sustainable finance in small island developing states. UN SSE chief coordinator Anthony Miller welcomed both exchanges, highlighting their participation as a testament to the growing momentum to harness sustainable finance for resilience, innovation, and inclusive development in the face of unique challenges posed by climate change.
This initiative not only enhances the profile of SPX within global financial networks but also positions Fiji as an emerging player committed to sustainability and responsible investment practices. The future looks bright as SPX works to implement sustainability principles that could significantly impact its market and the broader region positively.
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