THE Papua New Guinea National Stock Exchange (PNGX) has been welcomed as a new member to United Nations Sustainable Stock Exchange (UN SSE) initiative, according to PNGX.
PNGX in a statement yesterday said it had solidified its commitment to transparency and sustainability by becoming a partner exchange of the UN SSE initiative.
PNGX joins a network of 114 stock exchanges around the world that are committed to promoting sustainable development.
The SSE works with stock exchanges through technical assistance, consensus building, and research to contribute to the achievement of the United Nations Sustainable Development Goals (SDGs) and to stimulate investment for a sustainable future. Exchanges around the world partner with the SSE to work towards a common objective of fostering financial markets that support the growth of sustainable and responsible business practices.
“Partnering with the SSE initiative complements the goals PNGX is striving towards to help develop the Papua New Guinea capital markets and support the sustainability of the PNG economy” PNGX chairman David Lawrence said.
The Exchange recognises the number of sustainability challenges that an emerging economy like PNG faces, which include access to capital for small business, corporate governance and transparency, climate change, gender equality, and environmental sustainability.
Lawrence said addressing sustainability factors was of increasing importance to obtaining access to finance in today’s world and PNGX was committed to it.
“As part of a network of like-minded exchanges, PNGX can draw upon the resources of the SSE and its members and partners to develop locally relevant guidance and standards to support the development and sustainability of the local economy,” he said.
Statement/TheNational / Pacific Business News
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