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The Nairobian

Nairobi Securities Exchange (NSE) joins global sustainable trade bloc

Business

By Lee Mwiti | May 31, 2016

Nairobi Securities Exchange (NSE) has announced its admission to the UN Global Compact to promote transparency and corporate sustainability practices.

The United Nations Sustainable Stock Exchanges (SSE) was launched by UN Secretary-General Ban Ki-moon in 2009 and the NSE is its 18th member globally, and the fourth in Africa alongside the Egyptian Exchange, the Nigerian Stock Exchange and the Johannesburg Stock Exchange.

“The NSE is honoured to collaborate with the SSE project as this is in line with our commitment to develop a sustainable capital market that will create sustainable value for all the stakeholders,” NSE CEO Geoffrey Odundo said.

He reckoned NSE had committed to embrace core values in the areas of human rights, labour, the environment and anti-corruption by joining the world’s largest corporate sustainability initiative, the UN Global Compact.

The SSE explores how stock exchanges can work together with investors, regulators and firms to enhance transparency and governance issues while encouraging responsible long-term approaches to investment.

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It is co-organised by the UN Conference on Trade and Development (UNCTAD), the UN Global Compact, the UN Environment Programme’s Finance Initiative, and the UN-supported Principles for Responsible Investment. UNCTAD Director of Investment and Enterprise Division James Zhan said Kenya is the biggest economy in East and Central Africa and a critically important market for promoting sustainable development practices in the region.

“We are delighted that the NSE is joining us to promote sustainable business practices,” Zhan said.

“We welcome the dynamism that the NSE can bring to promoting investment in sustainable development,” UNCTAD Secretary General Mukhisa Kituyi said.