“Roadmap for Sustainable Finance” – Sunday Observer – June 23, 2019

On June 23, 2019 the Sunday Observer reported that “The Central Bank launched the Roadmap for Sustainable Finance in Sri Lanka and hosted a high-level seminar for senior officers of financial institutions and stakeholders in Colombo last week.

This was the national launch of the Roadmap for Sustainable Finance which was unveiled globally on April 10, 2019 at the Sustainable Banking Network Global Meeting of the International Finance Corporation (IFC) in Washington, DC, USA.

‘The Road Map will facilitate the aim of achieving greener and more sustainable financial sector in Sri Lanka with its forthcoming and forward looking approach adopted. The financial system in the country has done well so far, and it is a momentous step to introduce a Roadmap,’ Governor Central Bank Dr. Indrajit Coomaraswamy said.

The Central Bank of Sri Lanka has appointed a Steering Committee on Implementation of the Roadmap for Sustainable Finance in Sri Lanka to facilitate effective implementation of the strategic activities encompassed in the Roadmap. The committee envisages monitoring and reviewing the progress while incentivising stakeholders in practising sustainable finance in their ordinary course of businesses.”

You may read the article on the Sunday Observer internet site.

“S&P DJI launches new ESG Index for South Africa” – Africa Global Funds – June 20, 2019

On June 20, 2019 Africa Global Funds reported that “S&P Dow Jones Indices has launched the S&P South Africa Domestic Shareholder Weighted ESG Index, the newest addition to its global Environmental, Social and Governance (ESG) index family.

Reid Steadman, Global Head of ESG, S&P Dow Jones Indices, said: ‘The S&P South Africa Domestic Shareholder Weighted (DSW) Capped ESG Index is a broad-based, market-cap-weighted index that is designed to measure the performance of securities meeting sustainability criteria, while maintaining similar overall industry group weights as the S&P South Africa Domestic Shareholder Weighted (DSW) Capped Index. It can serve as a benchmark as well as the basis for index-linked investment products.’

The new index is expected to be the core benchmark for the region, helping to transition to a more sustainable South Africa.

The index integrates sustainability criteria, by targeting a selection of 75% of market capitalization of each GICS Industry Group and excludes tobacco, controversial weapons and companies not in compliance with UN Global Compact.”

You may read the article on the Africa Global Funds internet site.