Euronext has recently made a significant move by joining the Net Zero Financial Services Providers Alliance Exchange Group during COP29 Finance Day. This alliance, comprising 20 exchanges worldwide, including Bursa Malaysia, Kazakhstan Stock Exchange (KASE), Mercado Argentino de Valores (MAV), and the Saudi Exchange, now lists over 12,000 companies with a collective market capitalization exceeding US$27 trillion.

The Net Zero Exchange Group’s expansion since its inception at COP26 underscores the increasing emphasis on collaborative efforts within the financial sector to tackle the climate crisis. By aligning operations with climate objectives and promoting education and transparency on climate action, this group, a part of the broader Glasgow Financial Alliance for Net Zero (GFANZ), is instrumental in driving climate-conscious practices in global public financial markets.

Stock exchanges, as key players in implementing net zero commitments, are vital in ensuring a consistent yet adaptable approach to transitioning to a net-zero emissions economy. Anthony Miller, UN SSE Chief Coordinator, highlights the pivotal role of exchanges in facilitating a just transition to a net-zero future.

Euronext’s CEO, Stéphane Boujnah, expressed pride in the company’s commitment to achieving net-zero greenhouse gas emissions by 2050 at the latest. By joining the Net Zero Financial Service Providers Alliance, Euronext aims to build sustainable capital markets for future generations, fostering collaboration and knowledge sharing among members to advance environmental stewardship.

KASE’s CEO, Alina Aldambergen, emphasized the exchange’s dedication to promoting a climate-conscious investment culture aligned with global net-zero goals. By providing a framework for long-term value creation that benefits businesses, investors, and the environment, KASE underscores its commitment to climate action.

The Saudi Exchange’s CEO, Mohammed Al Rumaih, announced the exchange’s pledge to achieve net-zero greenhouse gas emissions by 2050 or earlier, aligning with the Paris Agreement. By setting interim carbon reduction targets for 2030 and engaging stakeholders, the Saudi Exchange aims to lead the transition towards a resilient, low-carbon economy in the Saudi capital market.

Looking ahead, the NZFSPA Exchange Group will continue its efforts to channel global financial flows towards limiting global warming to 1.5°C, ensuring investments support a just, sustainable, and resilient world. As part of the GFANZ, the Exchange Group plays a crucial role in integrating climate goals into financial markets and promoting sustainable investment practices.

In conclusion, Euronext’s participation in the Net Zero Financial Services Providers Alliance Exchange Group signifies a significant step towards a net-zero global economy by 2050. Through collective action and ongoing leadership, exchanges worldwide are driving the transition towards a sustainable future, demonstrating their commitment to climate action and environmental responsibility.