BUSINESS

PSE joins global ecology call up

WFE members rang the bell between 30 November and 12 December, falling within the dates that the COP28 UN Climate Summit in Dubai were held

DT · Dec 13, 2023, 12:03 AM

The Philippine Stock Exchange’s call to action participants are (from left) PSE technology division head Philip Driz, PSE general counsel Veronica del Rosario, PSE COO Roel Refran, CCC deputy executive director Assistant Secretary Romell Antonio Cuenca, PSE president and CEO Ramon Monzon, PSE issuer regulation division head Marigel Garcia, Securities Clearing Corp. of the Philippines COO Renee Rubio, PSE finance division head Roberto Jose Jimenez, and PSE market operations division head Roel Villanueva. | Photograph courtesy of PSE

The Philippine Stock Exchange Inc., or PSE, showed its environmental advocacy by taking part in the inaugural Ring the Bell for Climate of the World Federation of Exchanges, or WFE.

WFE members rang the bell between 30 November and 12 December, falling within the dates that the COP28 UN Climate Summit in Dubai were held.

This initiative aims to mobilize WFE's global network of bourses to show their support in addressing climate issue and to highlight their role in providing a venue for companies to raise capital for investment for sustainable development.

Aside from the PSE board and management, officials from the Climate Change Commission, or CCC, took part in the bell ringing program.

CCC commissioner Rachel Anne Herrera delivered a message while CCC deputy executive director Assistant Secretary Romell Antonio Cuenca joined in the bell ringing ceremony.

Bourse cites sustainability programs

PSE president and CEO Ramon Monzon identified the programs and partnerships undertaken by the exchange to develop capabilities for an active sustainable capital market.

He also cited PSE's membership in the Net Zero Financial Service Providers Alliance, formalized at COP28 in support of the global net zero greenhouse gas emissions targets by 2050, or sooner.

"Rest assured that PSE will champion sustainability initiatives including credible and material disclosures on the risks and opportunities for listed companies given the transition to a sustainable marketplace," according to Monzon.

"And with the help of our regulators and partner organizations, we will do our best to engage with our stakeholders for more capacity-building initiatives, to encourage more listed companies to adapt to a sustainable investing environment; and align with local regulators, standard-setters, and peer exchanges to keep abreast of the latest ESG innovations and developments, " Monzon added.