The South Pacific Stock Exchange (SPX), in partnership with the United Nations Sustainable Stock Exchanges (UN SSE), is set to launch its inaugural technical training focused on the new International Financial Reporting Standards (IFRS) sustainability disclosure standards, IFRS S1 and IFRS S2. Scheduled to occur next month, this initiative marks SPX’s commitment to strengthening sustainability reporting within Fiji’s capital markets, a goal aligned with the global push for sustainable finance practices.
This training is designed for a diverse group of stakeholders, including SPX-listed companies, private entities, financial institutions, regulatory bodies, and advisory firms. It targets professionals in governance, finance, risk, and sustainability sectors. The timing of this training is particularly significant as it follows the Fiji Institute of Chartered Accountants’ decision to defer the adoption of IFRS S1 and S2 standards to January 1, 2026.
The training program will feature interactive sessions and a live Q&A with the experts who contributed to developing the IFRS standards. This format aims to provide participants with practical knowledge to align their sustainability disclosure practices with international standards, which is crucial for enhancing transparency and building investor trust.
Chief Executive Sheraj Obeyesekere emphasizes that this initiative underscores SPX’s early commitment to the UN Sustainable Stock Exchanges, focusing on increasing technical capacity within Fiji’s capital markets. He insists this effort is critical for preparing company boards, executives, and finance teams for the forthcoming reporting mandates.
Related initiatives include SPX’s recent moves like joining the UN SSE and collaborating with the Fiji Institute of Chartered Accountants to bolster financial reporting standards, evidence of SPX’s ongoing efforts to integrate sustainability into financial practices. This is crucial given the Pacific region’s vulnerability to climate change, making sustainability a necessary strategy for resilience and long-term economic development.
Overall, these developments underline a promising direction for SPX and Fiji’s capital markets, as they work towards embedding sustainability in finance and cultivating a more robust and globally-aligned financial marketplace. By focusing on sustainability standards, SPX and its partners are not just enhancing the local financial environment but also positioning Fiji as an active player in the international sustainability discourse.
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