Five more exchanges join $27 trillion Net Zero Exchange Group at COP29: Bursa Malaysia, Euronext, KASE, MAV and Saudi Exchange

The NZFSPA Exchange Group, part of the wider Glasgow Financial Alliance for Net Zero (GFANZ), is driving climate action across the world’s public financial markets. The group, composed of exchanges from around the world, is working to align operations with climate goals and foster education and transparency related to climate action. 

“The continued growth of the NZFSPA Exchange Group illustrates the role that stock exchanges are playing in implementing net zero commitments. Exchanges are ensuring a globally consistent yet locally relevant approach to transitioning to a net zero emissions economy which aids all capital market participants to contribute to a just transition.” says Anthony Miller, UN SSE Chief Coordinator. 

“PRI would like to join our NZFSPA secretariat colleagues the United Nations Sustainable Stock Exchanges (UN SSE) initiative in welcoming the new members of NZFSPA’s Exchange Group. It’s fantastic to see the group growing at pace, with even more exchanges making a public commitment to action on net zero, opening up pathways to a climate-resilient future which benefits their businesses and clients,” said Tamsin Ballard, Chief Initiatives Officer, PRI.

Quotes from CEOs

Datuk Muhamad Umar Swift, Chief Executive Officer, Bursa Malaysia, said: “As crucial enablers and influencers, exchanges play an important role in advancing sustainability in the marketplace. Bursa Malaysia is pleased to join the Net Zero Financial Service Providers Alliance, reinforcing our commitment to lead by example in Malaysia’s capital market. We will continue the collaborative and multi-pronged approaches we have undertaken to create sustainability reporting guidelines and tools for all listed issuers in Malaysia, while building sustainability capability and capacity, all towards driving reduction of greenhouse gas emissions among businesses.  We stand ready to collaborate with other peer exchanges that share the common aspiration of catalysing climate action in a practical manner via enhanced sustainability disclosures, and accessibility to environmental solutions such as high quality carbon credits.”

Stéphane Boujnah, CEO and Chairman of the Managing Board of Euronext N.V., said:  “Euronext is proud to join the Net Zero Financial Service Providers Alliance, demonstrating our commitment to achieving net-zero greenhouse gas emissions by 2050 at the latest and reinforcing our purpose to build capital markets for future generations. With a unique position in European capital markets, we look forward to collaborating and sharing best practices with other members to build a financial and economic future rooted in sustainability and environmental stewardship with our communities.”

Ms Alina Aldambergen, CEO, KASE said: “KASE’s participation in the Net Zero Financial Service Providers Alliance strengthens our commitment to the global fight against climate change. Our role will be to foster a climate-conscious investment culture that aligns with the net-zero ambitions of our nation and beyond. KASE is proud to be part of the solution, providing the framework that will drive long-term value for businesses, investors, and the environment.”

Mr Fernando Luciani, CEO, MAV  said: “At MAV we are glad to be able to join the NZFSPA where, increasingly, many exchanges are sharing their knowledge and best-practices. Our net zero commitment is reinforced by participating in this valuable initiative that has the secretarial support of the SSE. Naturally, it is not an easy challenge, but one we’re ready to take on given its importance. The future requires us to do our best today regarding climate action.”

Mr Mohammed Al Rumaih, CEO, Saudi Exchange: “Saudi Exchange is proud to commit to achieving net zero greenhouse gas emissions by 2050 or sooner, aligning with the Paris Agreement. Joining the Net Zero Financial Service Providers Alliance, we pledge to align our services, build internal capabilities, and set interim targets for carbon reductions by 2030. The Saudi Exchange is committed to fostering a resilient, low-carbon economy and leading the efforts towards a sustainable future within the Saudi capital market. We will actively engage with stakeholders to promote the importance of setting and achieving net zero targets”.

Looking Toward a Net Zero Future

Through partnerships and continued leadership, the NZFSPA Exchange group will continue to work to align global financial flows with the critical goal of limiting global warming to 1.5°C, and to ensure that capital is directed where it is needed most – toward a just, sustainable, and resilient world.

About NZFSPA Exchange Group

The Net Zero Financial Services Providers Alliance (NZFSPA) Exchange Group is a global coalition of financial exchanges and service providers committed to accelerating the transition to a net-zero global economy by 2050. As part of the Glasgow Financial Alliance for Net Zero (GFANZ), the group works to integrate climate goals into financial markets and foster sustainable investment practices. The Exchange Group within the NZFSPA is an official Race to Zero partner. You can find out more about the NZFSPA Exchange Group here: https://sseinitiative.org/net-zero