Local bourse joins UN sustainable stock exchanges

Dar es Salaam Stock Exchange Public Limited Company (DSE Plc) Chief Executive Officer, Molemi Marwa said the SSE initiative explores how exchanges, in collaboration with investors, regulators and companies, can enhance corporate transparency and ultimately performance on environmental, social and corporate governance issues.

Marwa said at a seminar for capital market reporting held in Dar es Salaam yesterday the move is meant to encourage sustainable investments through the stock market in country.

“The SSE initiative helps local exchanges to promote responsible investments and sustainable business practices. It works to facilitate the involvement of complementary and overlapping constituencies which include companies, investors and policy makers,” he detailed.

He added that SSE initiative also enables all-of-its partner exchanges engage through dialogue, capacity building and research to facilitate the momentum and promote sustainable and transparent capital markets worldwide.

Marwa pointed out that stock exchanges have an important role to play in advancing sustainability in the capital markets hence the SSE initiative provides an effective platform for dialogue which in turn creates more sustainable capital markets.

“Benefits of being a member of the SSE initiative includes, access to research and tools to advance sustainability across markets, dialogue among partners on strategic issues as well as attending national, regional and global events organised by the initiative,” the DSE chief noted.

Since SSE is a UN initiative, so he UN Global Compact provides a universal language for corporate responsibility and provides a framework to guide all businesses regardless of size and origin.

“Long-term business success matters, so we need to protect the environment in which these businesses take place through responsible business practices, combined with collaboration and innovation which then can bring about powerful changes in the markets,” the DSE CEO remarked.

The SSE initiative was launched by UN Secretary-General Ban Ki-moon in New York in 2009 and currently the initiative has over fifty partner exchanges from around the world. The initiative has provided stock exchanges with an opportunity to play an important leadership role in promoting sustainable business practices.