United Kingdom: ‘Ambitious’ plan for Jersey to lead way in sustainable, ethical finance

A new strategy was launched yesterday designed to make Jersey a leading global centre in sustainable and ethical finance – an area that is expected to grow exponentially in the coming decades.

The plan forms part of a new report, ‘Jersey for Good: a Sustainable Future’, which makes the case for promoting investment in ‘environmental, social and governance’ assets, also known as ESG.

The report says that investments in ESG assets are expected to surpass $100 trillion by 2028. It was commissioned by Jersey Finance and carried out by a team led by Andrew Mitchell, chief executive of Jersey-based Equilibrium Futures, which advises on sustainable finance and opportunities linked to climate change and the environment.

‘Jersey for Good: a Sustainable Future’ says the Island’s finance sector has built a good reputation on governance, expertise and efficiency but needs to focus more on the opportunities presented by emerging regulation, reporting on sustainability and the increasing profitability of ESG funds. Its vision for Jersey by 2030 recommends:

  • Building partnerships so that each sector in the finance industry can integrate sustainability within a ‘joined-up’ policy framework.

  • ‘Green finance on a green island’. The finance industry, Jersey Financial Services Commission, government and Islanders need to work together on sustainability issues.

  • improving perception and credibility and measuring performance to reinforce Jersey’s reputation on the global stage.

  • Increasing capacity. Upskilling the industry to take advantage of the increasing trends towards ESG and sustainable finance.

The report also sets out a two-year Pathway to Success suggesting actions, such as establishing a steering group, greater participation in external bodies and forums, enhancing access to specific training, encouraging product innovation and creating an enabling regulatory environment.

The original full article can be found at jerseyeveningpost.com

 

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