The International Stock Exchange (TISE) has taken another significant stride in its corporate sustainability journey with the release of its carbon emissions targets and commitments, aligning its focus with Guernsey’s continuing dedication to sustainable finance.
Setting a target to achieve net zero on Scope 1 and 2 (operational) emissions by 2050, while also taking practical steps to minimise its Scope 3 (value chain) emissions, TISE’s commitment to achieving net zero for all direct and indirect operational emissions by 2050 is in line with the goals of the Paris Agreement.
TISE is home to TISE Sustainable, Europe’s most comprehensive sustainable market segment. At current, more than £13 billion is listed on TISE’s market supporting environmental, social and sustainable initiatives.
In total, there are more than 4,000 bonds and equities admitted on TISE, and a total market value of more than £600 billion.
The exchange has committed to offset any remaining Scope 3 emissions from 2022 onwards. In addition, TISE has also committed to offset the emissions produced from its own events in the future.
To minimise value chain emissions, encompassing aspects such as business travel, commuting, working from home and waste generation, TISE is introducing a series of new policies and updating existing policies, continuing to support wider initiatives, such as alternative transport week, and seeking input from staff for practical ideas to further improve emission performance.
Cees Vermaas, CEO of TISE, said: “I am delighted to announce our corporate sustainability targets and commitments. We all have a responsibility to secure the future of our planet and at TISE, we are committed to playing our role by operating the business in a manner which is sustainable over the longer term. I look forward to working collaboratively with both our internal and external stakeholders to deliver on the targets and commitments which we have set out today.”
At the beginning of 2023, TISE enrolled on ESI Monitor’s FutureTracker service, which was established in Guernsey and is a recognised platform providing a framework for organisations to measure, manage, minimise and benchmark the impact of their operations on the environment. TISE established an emissions benchmark using 2022 data.
It has offset Scope 3 emissions for 2022 by supporting the gold standard offset project, The Nicaforest High Impact Reforestation Program. Certified by Gold Standard and the Forestry Stewardship Council (FSC), the Nicaforest Program facilitates not only climate action but also educational opportunities and shared economic growth within the local community.
TISE has committed to ongoing annual measurement of its emissions footprint and regular internal and external reporting on the progress being made on its corporate sustainability strategy, including the delivery of its targets and commitments.
