Guernsey Green Finance and Green Finance Initiative have confirmed their mutual support and commitment to collaboration in the promotion the development of green and sustainable finance.
Representatives of the two organisations met at City Week, the international financial services conference at London’s Guildhall, this week to strengthen ties between the sustainable finance initiatives of the two jurisdictions and foster cooperation on the development of green finance.
Speaking about today’s discussions, Sir Roger Gifford, Chair of the UK Green Finance Initiative, said: “There is no greater imperative for bankers and investors than financing the transition to a low-carbon future. The UK has demonstrated global leadership in green and sustainable finance time and again but collaboration is key. It’s both natural and necessary, therefore, to combine with our colleagues in Guernsey and we welcome working with Guernsey Green Finance in support of climate finance.”
Guernsey Finance Deputy Chief Executive, Strategy, and Chair of Guernsey Green Finance, Dr Andy Sloan, said the Green Finance Initiative team, and Sir Roger in particular, had been incredibly supportive over the last two years.
“They were instrumental in us developing Guernsey Green Finance and committing as a jurisdiction to strategic action on sustainable finance,” Dr Sloan added. “I am delighted that we are able to formally confirm that collaborative approach between us to ensure that Guernsey fully plays its natural complementary role supporting the City and UK global leadership on green finance.
“Given Guernsey’s strong and symbiotic connections with the City of London, City Week was the ideal opportunity for both organisations to get together and strengthen ties in our mutual objective – to promote the development of green and sustainable finance.”
Guernsey Green Finance is the body responsible for the development of the sustainable finance sector in the island. It is a member of the United Nations’ Financial Centres for Sustainability Network and has been at the forefront of the development of green financial product launching world first regulated investment regime in 2019 and the jurisdiction is now looking to the development of regulated green insurance products.
Sir Roger had previously visited the island in late 2017 to discuss opportunities in green finance with Guernsey industry and government representatives.
Dr Sloan said that the meeting had been productive, offering an opportunity to exchange thinking and understanding and to explore opportunities to work more closely together.
Guernsey Finance is a sponsor of City Week 2019, the premier gathering of the international financial services community in the City of London.