CEO Letter

Welcome to the July edition of Focus. 

This month, we're pleased to share a selection of articles that grew out of discussions at the recent WFE Sustainability Conference, hosted by the Luxembourg Stock Exchange. 

Our cover feature is by Helena Viñes Fiestas, Chair of the EU Platform on Sustainable Finance and Commissioner at the Spanish Financial Markets Authority (CNMV). She looks at why capital expenditure is the missing link in transition finance and argues that it deserves more attention than climate targets alone. 

Our Editor's Pick comes from Aobakwe Aupa Monyatsi, CEO of Botswana Stock Exchange, who explains how closer regional cooperation can strengthen capital markets across Southern Africa. 

Elsewhere in this issue, Valdene Reddy of the Johannesburg Stock Exchange writes about the next phase of transition finance beyond disclosure. Arunma Oteh and Simon Rawson from the Taskforce on Inequality and Social-related Financial Disclosures discuss the role exchanges can play in improving disclosure of people-related risks. Fiona Watson of WBCSD explores how exchanges can help make sustainability more investable, while Maryam Alhalboni of the University of York explains why clear policy frameworks are as important as disclosure. 

Sacha Sadan of the FCA looks at how sustainable finance can move from building frameworks to delivering meaningful outcomes. 

We'll continue the conversation in August with more perspectives from the conference. I hope you enjoy this edition.