On March 27, 2015 Bucharest Stock Exchange (BVB) became a partner exchange to the United Nations (UN) Sustainable Stock Exchanges (SSE) initiative. SSE initiative was launched by the United Nations Secretary-General Ban Ki-moon in 2009. It is a peer-to-peer learning platform for exploring how exchanges, in collaboration with investors, regulators, and companies, can enhance corporate transparency – and ultimately performance – on environmental, social and corporate governance issues and encourage sustainable investment. The initiative is co-convened by the UN-supported Principles for Responsible Investment, the United Nations Conference on Trade and Development (UNCTAD), the United Nations Environment Programme Finance Initiative (UNEP FI) and the UN Global Compact.
BVB is the 19th member to join the initiative globally and the 4th European exchange alongside Deutsche Borse, London Stock Exchange and Warsaw Stock Exchange.
“BVB’s participation in this project marks the stock exchange’s commitment towards creating a sustainable environment not only for the listed companies, but also for the investors’, stated Ludwik Sobolewski, BVB CEO.
BVB is currently in the process of transforming the Romanian capital market into an attractive investment destination in the CEE region and enhancing the sustainability of the market is one of the key focus points. Since 2014 BVB, with the support of the European Bank for Reconstruction and Development (EBRD), has put efforts into redesigning of the Corporate Governance Code and plans for it to enter into force by mid-2015. Moreover, BVB is preparing to roll out a corporate governance index that will rank listed companies according to their transparency, quality of reporting, compliance with the Corporate Governance Code as well as the most predictable dividends and forecasts.
“As the European Union continues its work to promote corporate responsibility and responsible investment, stock exchanges are important partners for translating public policy into market realities” said James Zhan, Director of UNCTAD's Investment and Enterprise Division. “We welcome Bucharest Stock Exchange to the SSE initiative and look forward to working with them to help promote capital markets that work for sustainable development.”
Through the participation in the UN SSE initiative, BVB plans to enhance its dedication to creating a sustainable and transparent environment for all the stakeholders as well as to participate in global forums and cross-country projects in order to discuss best practices and to learn from the fellow partner exchanges and other key stakeholders.
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Bucharest Stock Exchange runs markets for shares, bonds and other instruments, through regulated platforms and alternative systems, and provides a wide range of services to participants of financial markets. Bucharest Stock Exchange is a public company, listed on its own market since 2010. For more information refer to www.bvb.ro.
