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• Sustainable Stock Exchanges (SSE) Initiative:
EGX is an active member of the Sustainable Stock Exchanges Initiative (SSE) since 2012. EGX together with 4 other stock exchanges (NASDAQ, Johannesburg, Ibovespa and Borsa Istanbul) joined to make a public commitment to apply sustainability practices in the Egyptian market, thereby becoming a SSE Partner Exchange.
The Sustainable Stock Exchanges (SSE) initiative 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 ESG issues and encourage sustainable investment. The SSE is organized by the UN Conference on Trade and Development (UNCTAD), the UN Global Compact, the UN Environment Program Finance Initiative (UNEP FI), and the Principles for Responsible Investment (PRI).
EGX also joined the “SSE Model Guidance Advisory Group”in January 2015, encompassing 56 committed members from 21 countries. The Model Guidance issued by the SSE, aims to assist both exchanges and companies with ESG reporting and related issues.
EGX Factsheet
EGX- SSE Communication with Stakeholders
- SSE Green Finance Advisory Group:
EGX together with other SSE partner exchanges joined the new work stream established by Sustainable Stock Exchanges Initiative (SSE) the "Green Finance Advisory Group". The Advisory Group also includes Green Finance experts, regulators, investors, issuers, policymakers and other capital market stakeholders. The work stream will evaluate what role stock exchanges currently play, and could practically play, in the facilitation of or support for financing the transition to a less polluting and more sustainable global economy.
• WFE Sustainability Working Group (SWG):
EGX is an active member in The World Federation of Exchanges (WFE) Sustainability Working Group (SWG), since March 2014. The SWG is the largest WFE working group. The working group, established in 2014, is comprised of representatives from a diverse array of global stock exchanges with a mandate to "build consensus on the purpose, practicality, and materiality of environmental, social, and governance (ESG). In May 2016, EGX was elected the Vice Chairman for the SWG for a two year term, ended in May 2018.
• The United Nations Global Compact (UNGC):
EGX became a member of the United Nations Global Compact (UNGC) in April 2016. UN Global Compact purpose is to call business and nonbusiness organizations to align strategies and operations with universal principles on human rights, labor, environment and anti-corruption, and take actions that advance societal goals. UN Global Compact aims at creating a sustainable and inclusive global economy that delivers lasting benefits to people, communities and markets. UN Global Compact supports companies to achieve and report on the Global Compact ten principles.
• Women's Empowerment Principles (WEPs):
In line with our commitment to promote Women Empowerment, the Egyptian Exchange signed Women's Empowerment Principles (WEPs) in April 2016, to promote gender equality in the workplace, marketplace and community. EGX has a clear interest in empowering women to play leading roles in the Egyptian capital market, believing that empowering women to participate fully in economic life is essential to build strong economies, establish more stable and just societies and improve quality of life for women, men, families and communities.
• Global Investor Statement on Climate Change:
Recognizing the gravity of the threat posed by climate change, EGX signed Global Investor Statement on Climate Change in December 2015. The statement sets out the contributions that investors can make to increasing low carbon and climate resilient investments and offers practical proposals on how our contribution may be scaled up through appropriate government action.
• Marrakech Pledge:
In November 2016, and during the COP22, The Egyptian Exchange signed The “Marrakech Pledge for Fostering Green Capital Markets in Africa”, which is an initiative to call for action to all African Capital Markets Regulators and Exchanges willing to act collectively in favor of sustainable development, and have an actual impact on fostering Green Capital Markets in Africa, both within respective local markets and together as a region, to promote climate-resilient investments and drive capital into the green economy.
• Financial Stability Board (FSB) Task Force on Climate-related Financial Disclosures (TCFD):
The Egyptian Exchange supported the recommendations of the taskforce on climate-related financial disclosure (TCFD) of the Financial Stability Board, which is in charge of following up the global financial system and setting recommendations for maintaining financial stability. EGX signed the TCFD recommendations, which came within its belief in the negative impact of the climate changes on different economic sectors, in addition to the important role capital markets can play in supporting transparency and disclosure regarding climate changes.
• ASEA Sustainability Working Group:
The Egyptian Exchange (EGX) made a proposal for the establishment of a sustainability working group for the African Securities Exchanges Association (ASEA). The proposal was welcomed and received a positive feedback from all ASEA members.The ASEA Sustainability Working Group was therefore established in April 2018, aiming at enhancing the African Stock Exchanges capabilities to explore and integrate the SDGs into African financial markets through creating African Sustainability roadmap, in addition to promoting and supporting sustainability-related initiatives and activities among ASEA members.
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