Stocktake: Long-Term Stock Exchange seeks ‘patient capital’

Too early to say if stock exchange will take off but potential for growth is there

The increased popularity of sustainable investing is reflected in the recent decision by two technology companies – $67 billion (€56 billion) software giant Twilio and $11 billion (€9 billion) work management platform Asana – to join the Long-Term Stock Exchange (LTSE) next month.

The two companies are the first to list on the LTSE, which aims to prioritise long-term actions and to “unite innovative companies with patient capital”.

Warnings regarding corporate short-termism have grown common in recent years, with figures such as Warren Buffett and JPMorgan's Jamie Dimon calling for the scrapping of quarterly earnings guidance. Similarly, there is now almost $2 trillion (€1.7 trillion) invested globally in ESG (environmental, social and governance) funds.

It is too early to say if the LTSE will take off, but the potential for growth is there.