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COP28: Japan Exchange Group, Latinex and Philippine Stock Exchange join the Net Zero Financial Service Providers Alliance (NZFSPA)

Three new exchanges joined the Net Zero Financial Service Providers Alliance (NZFSPA) on Finance Day at COP28 in Dubai, committing to support a transition of their markets towards becoming net zero by 2050 at the latest.

Part of the Glasgow Financial Alliance for Net Zero (GFANZ), the NZFSPA signatories are a range of global service providers organized into 4 groups (index providers, auditors, stock exchanges and research, rating & data providers), who are committed to raising the urgency of net zero alignment and integrating net zero alignment into relevant services and products offered to capital market participants. 

With Japan Exchange Group, Latinex and Philippine Stock Exchange joining, the Net Zero Exchange Group is now 11 members strong, representing a 37% growth in the largest group within the Alliance.  The three new members of the Alliance join Bolsa Mexicana Grupo BMV, Cboe, Deutsche Börse, Hong Kong Exchanges and Clearing (HKEX), Johannesburg Stock Exchange (JSE), London Stock Exchange Group (LSEG), Luxembourg Stock Exchange, and Singapore Exchange (SGX).The Exchange Group’s Net Zero Target-Setting Guidance framework was officially approved in June 2023 by the UN Climate Change High-level Champions overseeing the Race to Zero campaign. This endorsement marked a milestone in the Group’s commitment to combating climate change and contributing to the global transition to a sustainable, net zero economy.  The exchange subgroup is now moving into the implementation phase, with each exchange using the framework to develop its own individual targets tailored to its market context and preparing to report on progress.The UN SSE provides secretariat services to the NZFSPA – Exchange Group and will continue to work with the group to assist and guide them in the implementation phase. You can find out more here or by reaching out to info@sseinitiative.org.


“JPX is committed to aiming for a sustainable economy by developing the capital market into one that can coexist with the environment, as set out in our Environmental Vision and Policy and Green Strategy. We are delighted to take this commitment one step further by joining the NZFSPA. We look forward to proactively exploring what we can do as an organization underpinning the financial community to further the cause of net zero.”

Yamaji Hiromi, Director & Representative Executive Officer, Group CEO Japan Exchange Group, Inc.

“We are honored to join the Net Zero Alliance of Financial Service Providers, marking us as the second Latin American exchange to join the alliance. As market infrastructure, we connect issuers, investors, and market intermediaries, playing a pivotal role in steering the course toward sustainable development and catalyzing the transition to a low-carbon economy. We reaffirm our commitment to internally reducing our carbon emissions and, externally, championing the implementation of initiatives with our stakeholders that actively contribute to forging a low-carbon, inclusive, and resilient future”

Olga Cantillo, Executive President and CEO Latinex

“Organized marketplaces and exchanges can be effective enablers, if not champions and change agents, of the economic transition to net zero through products and services based on standardized disclosures of material information that ultimately create a virtuous circle of sustainability in the capital markets and, more importantly, in the real economy.”

Roel Refron, Chief Operating Officer, The Philippine Stock Exchange

“It is encouraging to see continued growth in the number of exchanges stepping up to make the commitment to Net Zero. Exchanges are pivotal players in the net zero transition, leading by example through operational emission reductions, while influencing the market through providing climate-related market education and promoting a just transition. We welcome the three new members to the Alliance and look forward to seeing their commitment being translated into action.”

Anthony Miller, Chief Coordinator, UN Sustainable Stock Exchanges initiative

“Congratulations to the new members of the Net Zero Exchange Group of the NZFSPA. The more firms that show commitment to net zero, the quicker change can happen. Exchanges are showing huge leadership in this space, in their own journeys as well as in business areas such as data, carbon credits and disclosure.“

Alice Carr, Executive Director, Public Policy, GFANZ