The launch of the partnership between the Stock Exchange of Mauritius and Risk Insights ESG GPS took place on March 15th at the Hennessy Park Hotel in Ebène.
According to the Governor of the Bank of Mauritius, building a resilient economy requires policies that prioritize environmental considerations.
Mauritius needs $6.5 billion in funding to meet its nationally determined contributions, which would involve reducing its greenhouse gas emissions by 40% by 2030.
The government and private sector would fund $2.3 billion, while the remaining $4.2 billion would need to come from external sources. This was highlighted by Governor Harvesh Seegolam during the partnership launch event.
Seegolam believes that the Mauritian capital market will play an increasingly important role in building a more inclusive and environmentally respectful nation.
He emphasized that for central bankers, climate change considerations are not just random shocks.
The increase in frequency, probability, and severity of weather disruptions creates urgent situations for macroeconomic outcomes.
The collaboration between the Stock Exchange of Mauritius and Risk Insights is seen as timely in advancing the sustainable development agenda in Mauritius.
Listed and unlisted companies will now have access to a comprehensive set of ESG evaluation tools, disclosure information, analysis, and reports on ESG intelligence impact.
Seegolam stated that this will undoubtedly improve the quality of ESG reports in Mauritius while showcasing the country’s ESG credentials on the global stage.
Key dates:
- September 2015: Introduction of SEMSI by the Stock Exchange of Mauritius, an index that evaluates listed companies based on ESG criteria. As of March 15, 2024, eighteen companies were part of this index.
- October 2023: Listing of the first green bond by the Stock Exchange of Mauritius.
Total exposure of the banking sector in Mauritian rupees to sustainable projects:
- June 30, 2022: Rs 4.2 billion
- June 30, 2023: Rs 6.9 billion
Source: Defi Media
