Jamaica Stock Exchange

1
Jamaica Stock Exchange
A Member of the
Sustainable Stock Exchange Initiative
Presented By:
Robin Levy
JSE Deputy General Manager
JSE Group Products & Services
 Equity & Debt – raise funds (IPO)/trade on secondary market
 Junior Market – IPOs, 5-year corporate tax holiday
 US Dollar Market – raise U$ funding
 45 on Main – 33 equity; 12 preference; 1 debt; 1 USD
 25 on Junior – 23 equity; 1 debt
 Services in Support of Funding Transactions
 Depository – immobilisation of issued securities
 Registrar, Transfer Agent and Paying Agent
 Trustee, Collateral and Escrow Agent – safeguarding assets
 Over 40 Clients in 5 CARICOM Countries
Sustainable Stock Exchanges Initiative
 Sparked by 2008 Financial Crisis
 Project of the United Nations
 Exchanges to seek, standardise, publish and analyse
environmental, social, and corporate governance (ESG) data
 Multi-stakeholder learning platform for best practices that
promote responsible investing and corporate sustainability
 Collaborate with investors, regulators and companies to
 Enhance corporate transparency;
 Improve performance on ESG issues; and
 Encourage responsible long-term approaches to investment.
 http://www.sseinitiative.org/
https://www.unglobalcompact.org/docs/is
sues_doc/Financial_markets/Sustainable
_Stock_Exchanges.pdf
The 2010 report “Sustainable Stock
Exchanges: Real Obstacles, Real
Opportunities” surveyed 30 major global
stock exchange entities on the breadth
and depth of their existing sustainability
initiatives. This follow-on
work, ‘A Report on Progress’, has, as its
title suggests, revisited the same
exchange entities with a deeper survey
to gauge what advances have been
made in the understanding and
management of sustainability impacts by
the exchanges.
Principles for Responsible Investment: Investors Must Commit to
Engaging Policy Makers – Feb 16,2015 by CFI
http://cfi.co/europe/2015/02/principles-for-responsible-investmentinvestors-must-commit-to-engaging-policymakers/
“The recent mobilisation by institutional investors over the climate
change issue has captured media attention around the globe, clearly
demonstrating the power investors have when it comes to engaging
policymakers.
While investor engagement with policymakers is not new, what has
changed over the past decade is the emergence of responsible
investors seeking policy change that promote sustainable value
creation….”
SSE Initiative Part 2
 “One of World’s Best Sustainability Ideas” – Forbes Magazine
 http://www.forbes.com/sites/jacquelynsmith/2011/09/19/the-worlds-
best-sustainability-ideas
 Finalist for Katerva Sustainability Award in 2011
 17 SSE Partner Exchanges
JSE Sustainability Initiatives
 JSE collaboration with investors, regulators & companies to:
 Enhance corporate transparency and performance on ESG issues
 Encourage responsible long-term approaches to investments
 Best Practices Awards since 2004
 Annual Report Criteria for Reporting on Environmental Policies
 Regional Capital Market Conferences since 2005
 Seminars on sustainable economic development, preserving
environmental wealth, the greening of the economy, etc.
 JSE/PSOJ Award for Corporate Governance since 2008
Snapshot of Recent Annual Report
of a Listed Company
JSE Sustainability Initiatives II
 JSE Junior Market since 2009
 Allow SMEs greater access to capital financing
 Nurture growth companies and start-ups with tax concessions
 Encourage greenfield projects
 JSE e-Campus since 2010
 Multi-stakeholder platform for investor and practitioner education
 Promotes best practices, responsible investing & corp. sustainability
 JSE Company Actions
 Install inverter air-conditioning units in 2012-13
 Commission Solar Panel Bank & Generator in 2014
 Conversion of all lighting to LED in 2014-15
 >40% reduction in kw demand
Forward Looking
 Joint JSE/IDB-MIF project for ‘Promoting Access to
Equity Financing to SMEs’ signed Jan 2015:
 Training and technical assistance to SMEs
 Promoting improved governance by SMEs
 Partnering with PSOJ to develop Corporate
Governance Index by end of 2015
 New Renewable Energy Company will be raising
funds through the Exchange soon.
 Thank You