05.17.2021

TSX Selects IHS Markit For ESG Reporting And Data

IHS Markit has entered into a strategic alliance with Toronto Stock Exchange (TSX) and TSX Venture Exchange (TSXV) (the Exchanges) to deliver its multi framework ESG reporting and data distribution platform, ESG Reporting Repository™, to issuers listed on the Exchanges. As part of the agreement, TSX and TSXV will recommend the use of the Repository to approximately 2300 public companies listed on the Exchanges at no additional cost.

The collaboration enables firms listed on the Exchanges to navigate increasingly complex ESG and climate change reporting and data management demands and adopt global ‘best practices’ by using the Repository to streamline their ESG reporting and access peer and investor insights.

The Repository is a flexible, functionality-rich ESG data management platform

  • Multi framework: Repository supports 17 leading voluntary and regulatory ESG schemas. The number of frameworks supported will continue to expand.
  • Reporting flexibility: Repository provides users the ability to upload, cross reference and compare ESG data across all supported frameworks to help manage their increasingly complex and often multi-jurisdictional ESG disclosure and reporting obligations.
  • Upstream use: Users can utilize the platform to collect and manage ESG data across their supply chain, overseas entities and internal venture capital portfolios using any of the supported frameworks.
  • Downstream use: Users can utilize the platform to deliver and report ESG data to their investors, bankers and regulators using any of the supported frameworks.
  • Peer group analysis: Users can compare their ESG metrics to a subset of global peers by choosing from ESG metrics for over 8700 global public companies.

Kevin Bourne, Managing Director, Co-Head of Sustainable Finance, IHS Markit, said:  “We are excited to be working with Toronto Stock Exchange and TSX Venture Exchange on this initiative. The management of ESG and climate change data is becoming a multi-jurisdictional challenge exacerbated by a combination of systemic risk and societal responsibilities. Toronto Stock Exchange and TSX Venture Exchange are at the forefront of launching such a comprehensive program to support their issuers and have demonstrated a path forward that many other exchanges are also looking to deliver for their issuers.”

Loui Anastasopoulos, President, Capital Formation & Enterprise Marketing Officer, TMX Group said: “Helping our issuers access capital in a complex and risk adjusted world is a core objective of both Toronto Stock Exchange and TSX Venture Exchange. Whether a large multi-national or young entrepreneurial business, addressing the challenges of ESG and climate change reporting is a key priority for the Exchanges. Our alliance with IHS Markit lays the groundwork to facilitate broader ESG reporting by our issuers, and broader dissemination of their ESG disclosures to a global audience.”

Source: IHS Markit

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