Guernsey is part of an international movement driving the transition to a low-carbon economic model, highlighted at a high-level conference on sustainable finance taking place in Brussels today.
The conference has seen the publication of a report, Shifting Gears, by the UN's Financial Centres for Sustainability (FC4S) network, which is seeking to stimulate action among financial centres in the development of green and sustainable finance.
Guernsey is one of 22 financial centre members of FC4S, and the report highlights the progress all are making.
Through the creation of industry body Guernsey Green Finance, the island is building on the launch of the Guernsey Green Fund, the world's first regulated green investment fund product, and the report also highlights the launch of the dedicated green segment on The International Stock Exchange, headquartered in the island, and Guernsey Green Finance's developing work in the insurance and fintech sectors.
Dr Andy Sloan, Deputy Chief Executive, Strategy, at Guernsey Finance and Chair of Guernsey Green Finance, is representing the jurisdiction at the conference.
"It's a privilege for Guernsey to be at such a high-level event, and to be recognised as one of the world's leading financial centres in this area. Clearly we are entering a new phase of strategic action on green and sustainable finance and we are considering the demand for immediate action with the need for a long-term approach," he said.
Dr Andy Sloan, Deputy Chief Executive, Strategy, Guernsey Finance
The Shifting Gears report says that the transition is happening, with investors backing the Principles for Responsible Investment, the green bond market continues to grow, and policymakers and regulators increasingly engage in sustainability factors.
FC4S now wants to pursue strategic action from member centres, mobilise their skill to channel capital flows to areas of greatest need, and provide a connection point between decentralised action from financial centres and key international policy initiatives.
For more information about Guernsey's finance industry please visit www.weareguernsey.com.
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