Singapore Exchange (SGX Group) has been recognised as the “Exchange of the Year” and for the “ESG Initiative of the Year” in the Regulation Asia Awards for Excellence 2022. This is the fourth time SGX Group has received the Exchange of the Year accolade.
The 2022 awards recognise SGX Group’s achievements in maintaining the resiliency of its operations amid heightened volatility and challenging external conditions. SGX Group was also recognized for establishing new regulatory frameworks including rules for the listing of Special Purpose Acquisition Companies (SPACs) and international linkages that expand access to an increased range of markets and products. “SGX’s SPAC framework might currently be considered the safest in the world from an investor perspective,” said Regulation Asia in its awards announcement, citing a judge on the awards panel.
Also lauded was SGX Group’s contribution towards the sustainability agenda through measures including the launch of Climate Impact X, and new rules to promote board diversity and climate-related disclosures.
The “ESG Initiative of the Year” award was specifically awarded for SGX Group’s ESGenome initiative, a digital portal to simultaneously help listed companies comply with their sustainability reporting requirements and address investors’ needs for a consistent and reliable source of comparable ESG data. “ESGenome reduces this compliance burden while also ensuring greater consistency and comparability across companies and sector,” Regulation Asia said in its announcement.
“Markets are built on trust and confidence which is why the 2022 Regulation Asia awards are important to SGX Group. As a regulator, SGX RegCo is delighted that the features of our SPAC framework and other innovations drew support and recognition. We are also pleased to have our efforts in support of sustainability and addressing climate change through better disclosure acknowledged,” said Tan Boon Gin, CEO of Singapore Exchange Regulation (SGX RegCo).
“ESG reporting has become both complex and crucial for companies and their investors. In conceptualising the ESGenome data portal, we set out to address the key concerns of the market. That ESGenome has been named the “ESG Initiative of the Year” marks a great start in the journey for SGX’s market community towards more harmonized, comprehensive and accessible data for decision-making and for the development of a national-level disclosure utility1,” said Michael Syn, Senior Managing Director and Head of Equities, SGX Group.
- This is extracted from a speech by Monetary Authority of Singapore Managing Director Ravi Menon entitled "FinTech in its Element: Water, Metal, Fire, Wood, Earth" which was delivered at the Singapore FinTech Festival 2022 on 3 November 2022.
