ARTICLE
20 March 2023

GFSC Updates Natural Capital Fund Rules And Guidance

G
GuernseyFinance

Contributor

Guernsey Finance is a joint industry and government initiative which seeks to promote and connect the island’s financial services sector in its chosen markets internationally. Based in Guernsey, the agency conducts marketing, communications and business development for members firms and also employs representatives in London, Hong Kong and Shanghai.
The Natural Capital Fund framework rules and guidance have been updated to better reflect international agreements.
Guernsey Finance and Banking
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The Natural Capital Fund framework rules and guidance have been updated to better reflect international agreements.

At the end of last year, governments from around the world came together at the COP15 to agree on a new set of goals to guide global action in halting and reversing nature loss by 2030.

The Guernsey Financial Services Commission launched the Natural Capital Fund in September 2022 as part of the growing Guernsey Sustainable Funds Regime. The fund helps channel investment into biodiversity and natural capital projects that make a positive contribution and/or significantly reduce harm to the natural world. This provides environmentally conscious investors with assurance that their capital is deployed in efforts to promote the protection and recovery of the Earth's natural environment.

The newly agreed framework centres on the goal of "30 by 30" - a target to achieve, by 2030, the effective conservation and management of at least 30% of the world's land, coastal areas and oceans, as well as the restoration of 30% of terrestrial and marine ecosystems.

To ensure that the Natural Capital Fund framework reflects the international agreement made between 188 governments, the Commission has applied these updates to reference the Kunming-Montreal Convention on Biodiversity Global Biodiversity Framework.

The Natural Capital Fund joins the Guernsey Green Fund as another world first in sustainable finance. The Guernsey Green Fund, established in 2018, now channels over £5.6 billion into sustainable investments.

The updated rules and guidance can be found here.

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.

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