Information and analytics provider IHS Markit announced a new strategic alliance with the Toronto Stock Exchange (TSX) and TSX Venture Exchange (TSXV), to provide issuers listed on the exchanges with ESG Reporting Repository, IHS’ multi framework ESG reporting and data distribution platform.
The ESG Reporting Repository platform enables companies to store and disseminate corporate ESG data relevant for ESG-focused investors and other stakeholders. The platform supports multiple voluntary and regulatory ESG schemas, providing users with the ability to upload, cross reference and compare ESG data across frameworks to help manage their increasingly complex and multi-jurisdictional ESG disclosure and reporting obligations. Companies can use the platform to manage ESG data across their supply chains, and to deliver and report ESG data to investors, bankers and regulators.
Kevin Bourne, Managing Director, Co-Head of Sustainable Finance, IHS Markit said:
“We are excited to be working with Toronto Stock Exchange and TSX Venture Exchange on this initiative. The management of ESG and climate change data is becoming a multi-jurisdictional challenge exacerbated by a combination of systemic risk and societal responsibilities. 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.”
According to IHS, the new collaboration aims to enable companies on the exchanges to navigate increasingly complex ESG and climate change reporting and data management demands and adopt global ‘best practices’ by using the Repository to streamline their ESG reporting and access peer and investor insights. 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.
Loui Anastasopoulos, President, Capital Formation & Enterprise Marketing Officer, TMX Group said:
“Helping our issuers access capital in a complex and risk adjusted world is a core objective of both Toronto Stock Exchange and TSX Venture Exchange. 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.”