IHS Markit is set to deliver environmental, social and governance (ESG) services for the Toronto Stock Exchange (TSX) and TSX Venture Exchange (TSXV).
The exchanges will leverage IHS Markit’s multi framework ESG reporting and data distribution platform, ESG Reporting Repository, to its issuers.
As part of the agreement, TSX and TSXV will recommend the use of the repository to approximately 2,300 public companies listed on the exchanges at no additional cost.
The collaboration enables firms listed on the exchanges to navigate increasingly complex ESG and climate change reporting and data management demands, IHS Markit affirms.
Additionally, it will allow firms to adopt global 'best practices' by using the repository to streamline their ESG reporting and access peer and investor insights.
According to IHS Markit, the ESG Reporting Repository is a flexible, functionality-rich ESG data management platform.
Kevin Bourne, managing director, co-head of sustainable finance, IHS Markit, says: “The management of ESG and climate change data is becoming a multi-jurisdictional challenge exacerbated by a combination of systemic risk and societal responsibilities.”
Bourne continues: “Toronto Stock Exchange and TSX Venture Exchange are at the forefront of launching such a comprehensive program to support their issuers and have demonstrated a path forward that many other exchanges are also looking to deliver for their issuers."
Loui Anastasopoulos, president, capital formation and enterprise marketing officer, TMX Group, explains: "Helping our issuers access capital in a complex and risk adjusted world is a core objective of both TSX and TSXV.”
“Whether a large multi-national or young entrepreneurial business, addressing the challenges of ESG and climate change reporting is a key priority for the exchanges. Our alliance with IHS Markit lays the groundwork to facilitate broader ESG reporting by our issuers, and broader dissemination of their ESG disclosures to a global audience,” adds Anastasopoulos.
Last week, Banco Santander appointed IHS Markit to report over-the-counter derivatives trades to multiple jurisdictions with its global regulatory reporting solution platform.
