site.bta"Oxygen" Platform Licensed by Global Reporting Initiative

The Oxygen platform has been licensed by the Global Reporting Initiative (GRI), which will allow businesses to quickly and easily report in accordance with all European and international ESG standards (environmental, social and governance indicators), the Bulgarian Stock Exchange (BSE) said here on Thursday. Oxygen is a sustainability management platform that supports organizations in their efforts to build sustainable businesses. It has been developed by Financial Market Services Ltd, part of the BSE Group.

The license provides companies with the assurance that they are completing questionnaires that are up to date, structured and fully compliant with established standards and can generate reports and statements in a variety of formats. Stakeholders could also easily compare the performance of different companies, the BSE noted.

Investors, regulators and stock exchanges are key parties in sustainability reporting. They play an important role in analysing and using the reported information to direct cash flows towards sustainable investments and create transparent and sustainable capital markets, the BSE added. GRI's sustainability standards facilitate dialogue between key players and reporting companies, unifying reported information, making it comparable and easier to analyse.

"This is an outstanding achievement of the Financial Market Services team and we are pleased that in a short time and with the methodological support of the Global Reporting Initiative we were able to license the platform," said Financial Market Services General Manager Gergana Papadopoulou.