The JSE understands that economic growth and Corporate Social Responsibility (CSR) are mutually interlinked activities to promote and maintain sustainable development. The Company makes sure to give its support to the vulnerable and destitute in the society as well as contribute to social upliftment projects that advance the country’s growth and capacity building of its populace. Therefore, the JSE’s CSR activities and contributions greatly focus on the elderly, young adults, children, and in the last three years have extended to the care of premature babies, as well as the health sector.
The JSE is committed to providing a fair, efficient and transparent stock market and as a Corporate Leader with high ethical standards, and a motivated workforce, we recognize the importance of fostering a good and healthy relationship in our community and its environs. One of our objectives is to empower and support these communities through various projects and in so doing, we have joined with other Corporate entities in assisting with programmes to contribute in rebuilding the community.
The JSE as a Sustainable Stock Exchange
Globally, businesses are more responsive to the impact of socio-cultural and environmental factors on long-term returns. Consequently, the consuming public and investors are now requiring businesses to conscientiously ponder how general operational practices are pursued.
The JSE is committed to promoting responsible investment in our market, as a signed party to the United Nations Sustainable Stock Exchanges (UN SSE) Initiative. The UN SSE Initiative provides a platform for exploring how stock exchanges, along with other key market players, can enhance corporate transparency on environmental, social and governance (ESG) issues and encourage sustainable investment. To date, the UN SSE initiative has partnered with over 100 stock exchanges across the world.
Jamaica Social Stock Exchange
In response to the growing demand for socio-cultural investment, the Exchange introduced the Jamaica Social Stock Exchange (JSSE) in 2019.
The JSSE is a social program driven by the JSE’s own practice of Corporate Social Responsibility (CSR), in partnership with companies listed on the JSE, international development partners, local donors and donors in the Jamaican diaspora. The JSSE demonstrates practical application of the five (5) Ps of the UN Sustainable Development Goals (SDGs) with a people-centered approach of ‘People, Planet, Prosperity, Partnerships and Peace’.
The JSSE seeks to engage the entire Jamaican economy in promoting the Social Capital Market, believing that true development of any country happens in all areas of life and facets of society.
The JSSE enables “socially responsible investor(s)”, people interested in contributing and improving the quality of life in Jamaica, are enabled to invest in wholesome projects that require public funding, and by extension promote the socio-cultural economy and the protection of the physical environment.
JSE's Sustainable Policies and Practices
The JSE aspires to build a sustainable capital market through participation with the SSE initiative by committing to transforming:
- Internal operations and culture while supporting the wider community
- The financial eco-system
The specific measures to support the above commitments are available for viewing, and will be tracked on a regular basis to assess the progress in implementing SSE principles.
The Exchange acknowledges the importance of seeking alternative sources of funding to address the current global climate crisis and achieve the SDGs.
We have collaborated with the Ministry of Housing, Urban Renewal, Environment and Climate Change (MHURECC) to develop the framework for the listing of Green Bonds on the JSE. Green Bonds are debt instruments whose proceeds are put towards financing climate-related and/or environmental projects. Such environmental projects are commonly focused on:
- Renewable energy and energy efficiency
- Waste management
- Efficient transport systems
- Sustainable housing
- Green/sustainable infrastructure
Green bonds provide all the benefits that regular bonds provide such as low risk, fixed regular income, tradability, tax savings and capital appreciation.
The ‘Green Bond Project’ is part of the Readiness Grant provided by the Green Climate Fund (GCF) and was undertaken to explore the debt capital market as a source of funding for climate action and environmental projects. At the end of this project in December 2022, Green Bonds will be listed on the Jamaica Stock Exchange.
Best Practices Awards
The JSE Best Practices Awards were established in 2004 by the JSE.
Objectives of the Awards are to:
- Provide an avenue to recognize listed companies and stockbrokers, in the securities industry, who uphold best practices standards;
- Enhance the relationship between the JSE and its stakeholders;
- Create an awareness of the standards for best practices in the areas to be adjudged.
The JSE encourages all listed companies to clearly declare and explain its internal best practices and CSR activities.
There are awards categories for member dealers and the listed companies both on the junior market and main market.
Community Social Interactions
Through the JSE’s breakfast school-feeding programme and other support programmes in which we are involved, the St. Michael’s All-Age School has reported an increase in the number of students attending classes and also an improvement in their performance at Grade 4 Literacy Test and in GSAT.
We have also contributed through wealth and job creation by providing jobs to some residents of the community, and continue to support the elderly and less fortunate by visiting and making contributions to the Denham Town Golden Age Home and Missionaries of the Poor.