Singapore Exchange (SGX Group) has been recognised as the “Exchange of the Year” and for the “ESG Initiative of the Year” in the Regulation Asia Awards for Excellence 2022. This is the fourth time SGX Group has received the Exchange of the Year accolade.
The 2022 awards recognise SGX’s for maintaining the resiliency of its operations amid heightened volatility and challenging external conditions.
SGX was also recognized for establishing new regulatory frameworks including rules for the listing of Special Purpose Acquisition Companies (SPACs), and international linkages that expand access to an increased range of markets and products.
“SGX’s SPAC framework might currently be considered the safest in the world from an investor perspective,” said Regulation Asia in its awards announcement, citing a judge on the awards panel.
SGX was also lauded for its contribution towards the sustainability agenda through measures such as the launch of Climate Impact X, and new rules to promote board diversity as well as climate-related disclosures.
Regulation Asia was set up in November 2013 to track regulatory changes impacting APAC financial services.
See also: A US$12 bil climate fund is readying a rare bond issuance
According to SGX, the “ESG Initiative of the Year” win was specifically awarded for its ESGenome initiative, a digital portal to simultaneously help listed companies comply with their sustainability reporting requirements and address investors’ needs for a consistent and reliable source of comparable ESG data.
“ESGenome reduces this compliance burden while also ensuring greater consistency and comparability across companies and sectors,” says Regulation Asia.
“Markets are built on trust and confidence which is why the 2022 Regulation Asia awards are important to SGX Group,” says Tan Boon Gin, CEO of SGX RegCo.
See also: India aiming to finalise carbon deals with Japan, Singapore
“As a regulator, SGX RegCo is delighted that the features of our spac framework and other innovations drew support and recognition. We are also pleased to have our efforts in support of sustainability and addressing climate change through better disclosure acknowledged,” he says.
SGX notes that ESG reporting has become both complex and crucial for companies and their investors.
“In conceptualising the ESGenome data portal, we set out to address the key concerns of the market,” says Michael Syn, SGX’s senior managing director and head of equities.
“That ESGenome has been named the “ESG Initiative of the Year” marks a great start in the journey for SGX’s market community towards more harmonized, comprehensive and accessible data for decision-making and for the development of a national-level disclosure utility,” says Syn.
