On Finance Day at COP29, Bursa Malaysia, Euronext, the Kazakhstan Stock Exchange (KASE), Mercado Argentino de Valores (MAV), and the Saudi Exchange announced their membership in the Net Zero Financial Services Providers Alliance (NZFSPA) Exchange Group. This addition marks a major milestone for the group, which now includes 20 stock exchanges representing over 12,000 listed companies with a combined market capitalisation exceeding $27 trillion.
The NZFSPA Exchange Group, launched at COP26 as part of the broader Glasgow Financial Alliance for Net Zero (GFANZ), reflects the financial sector’s growing collaboration and commitment to addressing the climate crisis. Its expansion underscores the pivotal role stock exchanges play in aligning capital markets with global climate goals.
“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,” said 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.
The NZFSPA Exchange Group promotes climate action across global public financial markets by aligning exchange operations with net zero targets and fostering transparency and education on climate initiatives. The group aims to ensure financial flows support limiting global warming to 1.5°C and focus on directing capital to areas most in need, advancing a just, sustainable, and resilient world. With growing momentum, the NZFSPA Exchange Group is set to deepen its impact through continued leadership and collaboration, driving meaningful change within the financial services sector.
Datuk Muhamad Umar Swift, Chief Executive Officer, Bursa Malaysia said, “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, “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.”
Alina Aldambergen, CEO, KASE said, “Our role will be to foster a climate-conscious investment culture that aligns with the net-zero ambitions of our nation and beyond.”
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.”
