26 November 2024, Kuala Lumpur – The ASEAN-Interconnected Sustainability Ecosystem (ASEAN-ISE) initiative, which aims to create a harmonised ASEAN sustainability ecosystem, continues to make strides. A workshop in Kuala Lumpur last week centred on the development of an ASEAN-level ESG Data Infrastructure, to enable accurate, efficient and standardisation of ESG data collection, analysis and reporting, towards promoting sustainable investment in the region.
To move forward, ASEAN-ISE members collectively agreed to issue a Request for Information (RFI) to identify fit-for-purpose solutions that will support the initiative in achieving its target outcome over the next three years[1].
Key representatives from ASEAN Exchanges, including Bursa Malaysia, Indonesia Stock Exchange (IDX), The Philippine Stock Exchange (PSE), The Stock Exchange of Thailand (SET), and Singapore Exchange (SGX Group), participated in the workshop to discuss and shape the RFI requirements. The RFI outlines the proposed framework for the ASEAN-ISE unified data infrastructure, emphasising the development of an interconnected ecosystem to facilitate seamless ESG data exchange, ensuring a sustainable operating model that can promote market accessibility through an ESG lens.
The exchanges acknowledged that finding commonalities were integral in the endeavour. “We envision a centralised infrastructure with harmonised data structure and standards which will enable a seamless aggregation of the ASEAN view, in promoting the region as a unified market. This framework, which will align with global priorities on green transition, will emphasise commonalities that enhance resource efficiency, achieve economies of scale and accelerate the time-to-market deployment of solutions,” said Datuk Muhamad Umar Swift, Chief Executive Officer, Bursa Malaysia. Bursa Malaysia hosted the recent workshop and is the current ASEAN-ISE secretariat.
“Through this initiative, we aim to deliver tangible outcomes – such as attracting international investors, increasing corporate visibility, and driving greater interest in ASEAN as a hub for sustainable development. By establishing a robust data infrastructure, we can position the region as a competitive and trusted partner in the global green economy, creating opportunities for innovation, growth, and deeper market integration. We welcome collaboration with like-minded parties worldwide to shape the future of ESG integration across ASEAN and with our other trading partners.”
The ASEAN ESG Data Infrastructure is the first of the four undertakings agreed upon by ASEAN Exchanges in July 2024. Through this RFI, ASEAN-ISE seeks market input to shape the development of a centralised ASEAN ESG data infrastructure. More information of the RFI will be released in December 2024. For more information, please contact the ASEAN-ISE Secretariat at isb@bursamalaysia.com.
[1] https://www.aseanexchanges.org/content/asean-exchanges-commit-to-advance-asean-as-an-attractive-region-at-the-37th-asean-exchanges-ceos-meeting-hosted-by-bursa-malaysia/
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About Bursa Malaysia
Bursa Malaysia is an Exchange holding company incorporated in 1976 and listed in 2005. It has grown to be one of the largest bourses in ASEAN. Today, Bursa Malaysia operates and regulates a multi-asset exchange, offering a comprehensive range of investment, capital raising, and exchange-related facilities. Bursa Malaysia is committed to its mission of Creating Opportunities, Growing Value for the Malaysian capital market, economy, and society. Learn more at BursaMalaysia.com .
About Indonesia Stock Exchange (IDX)
IDX is the only stock exchange in Indonesia with more than 900 listed companies and a total market capitalization of around US$750 billion. IDX is a non-profit organization with main function is to create a fair, orderly, and efficient capital market in Indonesia. IDX promotes a sustainable capital market through various initiatives and works closely with all stakeholders to provide transparency and investor protection. To learn more, visit www.idx.co.id.
About The Philippine Stock Exchange, Inc. (PSE)
The Philippine Stock Exchange (PSE) is the only stock exchange in the Philippines. The PSE regulates the Philippine equities market with the objective of maintaining efficiency, fairness, and transparency. It offers a comprehensive end-to-end roster of services which include listing, trading, market data, clearing, and settlement.
From the regulatory, technology and business aspects of its operations, the PSE commits to present various opportunities for its ecosystem of investors, issuers, trading participants, data vendors, regulators and shareholders; and ultimately, deliver greater value to the capital markets.
The PSE is a member of the Net Zero Financial Service Providers Alliance and the United Nations Sustainable Stock Exchanges Initiative.
About The Stock Exchange of Thailand (SET)
The Stock Exchange of Thailand (SET) is among the most liquid exchanges in Asia, providing a full range of investment products including equities, derivatives, as well as world-class trading, post-trade infrastructure/technology services. Going forward, SET’s vision “To Make the Capital Market ‘Work’ for Everyone” is aligned with the aim to support strong economic growth and competitiveness. Globally and regionally, SET has also actively coordinated with other exchanges to boost investment opportunities and capital market growth potential. Moreover, SET puts strong emphasis on sustainable growth by promoting listed companies’ business models that care for environmental, social and governance (ESG) practices. www.set.or.th
About Singapore Exchange (SGX Group)
SGX Group seeks to serve as the world’s most trusted and efficient international marketplace, operating equity, fixed income, currency and commodity markets to the highest regulatory standards. As one ecosystem with global relevance and influence, we offer multiple growth avenues to our stakeholders through listing, trading, clearing, settlement, depository, data and index services. We are committed to lead on climate action by developing a world-class transition financing and trading hub through SGX FIRST (Future in Reshaping Sustainability Together), our multi-asset sustainability platform. Headquartered in AAA-rated Singapore, we are globally recognised for our risk management and clearing capabilities. Find out more at www.sgxgroup.com.
