Supporting Athens Stock Exchange with their ESG strategy and Sustainability efforts
The Athens Exchange Group (ATHEX), supports the functioning of the Greek Capital Market. ATHEX and its subsidiaries operate the organised equities and derivatives markets (five markets in total), perform clearing and settlement of trades, supply integrated software solutions and services to the Greek capital market community, and promote the development of a capital markets culture in Greece.
ATHEX turned to dss+ for technical and advisory support to create the first ESG Reporting Guide, with the goal of helping Greek companies to effectively disclose their ESG performance, increase their access to capital and improve their reputation.
Challenge
In 2018, ATHEX joined the Sustainable Stock Exchange (SSE) Initiative, aiming to promote long-term sustainable investment in the Greek capital market, by encouraging issuers to improve their ESG performance. Having laid out the foundations for sustainable investment, ATHEX aimed to develop an ESG Reporting Guide to enhance the transparency, quality and comparability of environmental, social and governance (ESG) information.
Since then, ATHEX is building on its offerings to better compete with competitors and meet the demands of rapidly changing sustainable finance trends and regulations.
Solution
dss+ supported ATHEX in the development of its first ESG Reporting Guide by providing technical and advisory assistance. The dss+ team took into consideration ESG reporting practices outlined in international and domestic sustainability guidelines and standards (such as SASB's industry specific standards and the Greek Sustainability Code), existing reporting frameworks (such as GRI, CDP, TCFD and others) and the current landscape of corporate reports, to ensure that the metrics identified fully captured the needs and aligned with the capabilities of Greek companies.
The ESG Reporting Guide supports ATHEX's overarching goal to help Greek companies effectively disclose ESG information and improve their access to capital in addition to strengthening corporate reputations and enhancing stakeholder engagement.
dss+ conducted a review of the report in 2022 in order to publish an updated version adapting to and maintaining consistency with the latest market standards.
Assignment
Support the Athens Stock Exchange (ATHEX) on the enhancement of its ESG strategy, conduct market analysis on sustainability initiatives, and develop ESG reporting guidelines for financial market participants.
Offering
ESG strategy, Sustainability advisory, Sustainable and impact investing.
Impact
Developed the first ESG Reporting Guide for ATHEX listed companies.
Supported fundamental steps towards the advancement of the sustainable finance market in Greece, facilitating long-term value creation.
Supported the launch of the first ESG Index in the Greek market.
Developed the first C-Suite level course on ESG topics in collaboration with ATHEX.