Panel Discussion – Pioneering a Global Social Stock Exchange (GSSE) from Bhutan

Описание: This is from the first day of the 'Conference for Operationalizing GNH in Bhutan and Beyond' that took place at Dungkar Dzong, Pangbisa, Paro, Bhutan on the 19th of June, 2025.

Moderated by Tan Sri Andrew Sheng, the panel brought together Amarjeet Singh (SEBI), Dr. Bala Subramanium, Dorji Phuntsho (RSEB), and Ujjwal Deep Dahal (DHI) to imagine Bhutan’s role in leading the world toward a Global Social Stock Exchange (GSSE). 🌍💫

The dialogue centered on a simple but transformative idea - creating a marketplace where capital meets purpose. Rooted in Bhutan’s values of well-being and sustainability yet designed to scale globally, the GSSE would align finance with conscience and channel resources into projects that embody Gross National Happiness. Unlike traditional markets that celebrate profit, this exchange would celebrate social impact, trust, and collective progress.

Each voice enriched the vision. Dorji Phuntsho described the SSE as a platform with well-being at its core and spoke of crowdfunding as a promising mechanism, though still facing legal uncertainties. Amarjeet Singh introduced the idea of risk capital as essential to fund innovative social projects. Ujjwal Deep Dahal shared a national perspective, seeing the GSSE as a broad investment intersect capable of channeling global capital into Bhutanese innovations like the Grassroot Innovation Project. Meanwhile, Dr. Bala Subramanium reminded the panel of the lessons from failed SSEs, noting that without consistent funding and credibility, such initiatives cannot survive.

What emerged was a call for Bhutan to step forward with cultural and ethical leadership - building a GSSE that overcomes past shortcomings through robust governance, transparent impact tracking, and sustainable financial mechanisms. The panel agreed that such an endeavor would not only transform access to social finance, but also reaffirm Bhutan’s unique role in showing the world that true markets can be built on purpose over profit.
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