Guernsey's green and sustainable finance infrastructure continues to develop, with two new developments in recent weeks.
Commercial lender Sarnia Mutual has launched a new "green loan" product, offering preferential rates for customers seeking loans for certain environmentally-friendly products, such as electric cars and bikes and household insulation.
Separately, Environmental & Social Impact Monitor (ESIM) is a not-for-profit accreditation service for island businesses, looking to contribute to Guernsey being recognised as a leading centre for green and sustainable business and finance. It rates businesses on environmental and social commitments.
Founder Marc Laine said he intended the new business would enhance Guernsey's reputation for green finance, provide a clear opportunity for the island to demonstrate its commitment and alignment with the UN Sustainable Development Goals, and facilitate the development of a new advisory and auditing sector which would ultimately be able to export skills to other jurisdictions.
Dr Andy Sloan, Chair of Guernsey Green Finance, welcomed the industry developments.
"We are making strong progress with creating a varied green product range and we are dedicated to researching new products and services. We must now build on our efforts," he said.
For more information about Guernsey's finance industry please visit www.weareguernsey.com.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.