The Jamaica Stock Exchange (JSE) and the United Nations Development Programme (UNDP) Multi-Country Office in Jamaica have formalized a strategic collaboration to support the development of Jamaica’s sustainable finance and social entrepreneurial ecosystems, with the signing of a Memorandum of Understanding (MOU) in Kingston on 11 June.

The MOU builds on two years of successful collaboration between the two institutions and represents not just a continuation, but an expansion, of the collaboration to foster and support the development of Jamaica’s sustainable finance and social entrepreneurial ecosystems.

The agreement outlines six core areas of cooperation:

• Capacity building for private and social sector actors, particularly those within the Jamaica Social Stock Exchange (JSSE), to strengthen their ability to measure impact, improve digital marketing, and enhance monitoring and evaluation practices.
• Support for the development of Jamaica’s Social Capital Market, with emphasis on organizational strengthening and enterprise development within the JSSE framework.
• Sustainable finance product innovation, including the development and promotion of Green, Social, Sustainable, and Sustainability-Linked Bonds (GSSS+), and the creation of sustainability reporting frameworks aligned with ESG and ICMA principles.
• Policy and market engagement to promote an enabling environment that attracts sustainable investment.
• Knowledge exchange and research collaboration on global and local trends in climate and impact investing.
• Technical support to develop financial mechanisms that channel climate and biodiversity finance to Jamaica and other Small Island Developing States (SIDS).
   

Managing Director of the Jamaica Stock Exchange, Dr. Marlene Street Forrest, commented:

“This MOU affirms the JSE’s longstanding commitment to financial innovation with purpose. Through our Jamaica Social Stock Exchange, we are building a trusted platform to mobilize private capital for high-impact social initiatives. With UNDP’s support, we are strengthening the infrastructure, the knowledge, and the leadership needed to develop a dynamic Social Capital Market in Jamaica.

At the same time, we are advancing efforts to foster a vibrant Green Bond Market as part of our transition toward becoming a Green Exchange. We deeply value the UNDP’s technical expertise and global experience, which continue to play a vital role in shaping the policies, frameworks, and tools that underpin a resilient financial ecosystem—one that supports both environmental sustainability and social development.”

The MOU also acknowledges that the UNDP has been requested to provide development services in support of this effort — particularly to assist the JSSE in strengthening its organizational capacity and that of the enterprises it supports, as part of a broader agenda to institutionalize sustainable financing and social entrepreneurship.
 

Resident Representative of the UNDP Multi-Country Office in Jamaica, Dr. Kishan Khoday added:

"As the JSE works toward becoming a Green Exchange and expanding its leadership within the Sustainable Stock Exchange Initiative, today’s agreement strengthens the foundation for long-term cooperation on climate finance, ESG integration, and social enterprise development in Jamaica. Through our expanded partnership, UNDP and JSE can show how development assistance, when deployed strategically, can be a powerful catalyst for long-term investments that deliver financial returns as well as meaningful social and environmental impact." 

As the JSE works toward becoming a Green Exchange and expanding its leadership within the Sustainable Stock Exchange Initiative, today’s agreement strengthens the foundation for long-term cooperation on climate finance, ESG integration, and social enterprise development in Jamaica.