Partnerships with Related Organizations

At Japan Exchange Group, Inc.(JPX), as well as encouraging sustainable practices among our listed companies and market participants, we also support a number of global and domestic organizations working to encourage sustainable investment and sustainable finance.

Sustainable Stock Exchanges (SSE) Initiative

The SSE initiative is a platform for stock exchanges to explore and deliberate ways and means toward building sustainable societies through collaboration with investors, listed companies, and other capital market stakeholders.
It is organized by the UN Conference on Trade and Development (UNCTAD), the UN Global Compact, the UN Environment Programme Finance Initiative (UNEP FI), and the Principles for Responsible Investment (PRI).

JPX has been a partner exchange since December 2017 and has been proactively taking part in the Initiative’s work to promote sustainability.
In addition, in June 2019, we published a Japanese translation of the SSE’s "Model Guidance for Companies on Reporting on ESG Information" as a reference guide for listed companies.

Japan Exchange Group Joins the Sustainable Stock Exchanges Initiative
Translation of SSE Model Guidance

Task Force on Climate Related Financial Disclosures (TCFD)

TCFD is a non-governmental task force set up by the Financial Stability Board. It encourages individual companies and financial institutions to identify and disclose financial risks and opportunities stemming from climate change. Hundreds of financial institutions, corporates, governments and international organizations around the world have declared their support for the recommendations that the TCFD published in June 2017, including a fast increasing number in Japan.

JPX declared support for the TCFD’s recommendations in October 2018 and has been working since then to further increase awareness in Japan, including holding a number of events to discuss the recommendations. In addition, from May 2019, JPX has been taking part in a TCFD Consortium to discuss how the TCFD recommendations can be implemented.

Below are more details on some of the work JPX has been doing in this area.

JPX expresses support for TCFD (Oct 18)
JPX welcomes Mark Carney for discussion on promoting TCFD (Nov 18)
Symposium co-hosted by JFSA and JPX (Feb 19)
JPX welcomes Mary Schapiro, Special Advisor to the Chairman of TCFD (Feb 19)
SASB/CDSB "TCFD Implementation Guide" Seminar held at TSE (Oct 19)
JPX and JFSE hold symposium on "Dialogue between companies and investors on TCFD" (Dec 19)

World Federation of Exchanges (WFE)

WFE is a global industry association for exchanges and clearing houses. Its various initiatives include publishing policy papers, conducting surveys and research, and compiling and providing statistical data on capital markets. WFE also supports market infrastructure development through information sharing among member exchanges and technical support for emerging exchanges. In its recent activities, WFE is focusing on themes such as regulatory coherence and market fragmentation, policies on new technology such as initial coin offerings (ICOs) and crypto assets, and issues around ESG in market structure.

Since May 2018, JPX has been serving as vice chair of WFE's Sustainability Working Group and has been actively participating in its work. This has included revising the “ESG Guidance and Metrics” guidelines on how exchanges can encourage ESG disclosure, the new version of which was published in 2018, and developing the five “Sustainability Principles”, which WFE published in October 2018.