“Exchange in Focus: JSE lists first Social Bonds on its Sustainability Segment” – SSE Initiative – March 29, 2021

On March 29, 2021, the UN Sustainable Stock Exchanges (SSE) Initiative reported that “(t)he Johannesburg Stock Exchange (JSE) welcomes the first listed Social Bonds in South Africa to its Sustainability Segment. The four social bonds valued at R609 million are listed by TUHF Limited (“TUHF”) in partnership with Standard Bank through a securitisation vehicle, Urban Ubomi 1 (RF) Limited.

TUHF is a specialised commercial property and non-bank financial services company that finances micro-developers in inner cities. The company raises funds through the capital markets and provides these funds to property entrepreneurs who redevelop buildings in urban areas with the aim of supplying high quality, affordable rental housing.

It is encouraging and inspiring to see South African businesses taking the Sustainable Development Goals to heart, and utilising the JSE Sustainability Segment to drive inclusive economic growth. As the biggest stock exchange on the continent, we are excited to list our first Social Bonds that will enable TUHF through Urban Ubomi to drive sustainable development through the provision of affordable housing and improved access to funding for property SMMEs and entrepreneurs,’ says Sam Mokorosi, Head of Origination and Deals at the JSE.”

You may read the article on the SEE internet site.

“Sebi’s new rules on startups, delisting, ESG and more, explained” – Money Control – March 26, 2021

On March 26, 2021 Money Control reported that the “Securities and Exchange Board of India (SEBI) has announced key changes in the rules for listing of startups while bringing in more transparency in the disclosure requirements for listed entities with a focus on the all-important ESG—environment, social and governance—parameters. It has also enhanced the delisting process and given retail investors more power in terms of access to information.

SEBI has introduced a concept called ‘Business Responsibility and Sustainability Report’ for the top 1,000 listed companies of the country. Among other things, the report will emphasise on disclosures related to climate and social related issues of the company, which would help the investor community assess the firm’s sustainability-related risks and opportunities.

This is an important move considering the fact that the recent past has seen quite a few Indian mutual fund house launch ESG funds even as such form of sustainable investing has grown exponentially across some of the largest markets. In the capital market regulator’s own words, the new set of requirements will ‘set the stage for taking a leap for better disclosures in the ESG space in India.’”

You can read the article on the Money Control internet site.