The World Federation of Exchanges (WFE) has announced the formation of a new sustainability working group. This came after last week’s Working Committee meeting in Mumbai.

The new Sustainability Working Group includes representatives across an array of global stock exchanges. According to WFE’s press release, the group will have a “mandate to build consensus on the purpose, practicality, and materiality of Environmental, Social, and Governance (ESG) data.”

In addition, it is also expected to undertake original research, publicize the findings, promote the debate over ESG issues among WFE members and then make recommendations to member exchanges.?

Ravi Narain, Chairman of the Working Committee, said via a press release,?”We are very pleased with the formation of the Sustainability Working Group. The overwhelming interest among our members for ESG issues is a good indication for constructive future collaboration in this group, which will transcend competitors and regions in order to tackle key issues and promote best practices.”?

The following exchanges have already committed:?

? BM&FBOVESPA
? Borsa Istanbul
? Bursa Malaysia
? CBOE
? CME Group
? Deutsche B?rse
? IntercontinentalExchange/NYSE
? Johannesburg Stock Exchange
? NASDAQ OMX
? National Stock Exchange of India
? Shenzhen Stock Exchange
?
The group will determine its leadership at its first meeting with the Chairmanship to be rotated regularly.?
?
?