The global specialist financial services centre of Guernsey has welcomed the launch of the UK’s new Green Finance Strategy, launched on Tuesday 2 July at the Green Finance Summit in London.
City Minister John Glen launched the strategy as the London Green Finance Institute was also announced in a bid to strengthen the UK’s reputation as a global hub for green finance.
Dr Andy Sloan, Deputy Chief Executive, Strategy, at Guernsey Finance and Chair of Guernsey Green Finance, attended the event at London’s Guildhall.
He said: “The message is clear – progress is being made in green finance but this needs to accelerate. The City of London and the Institute obviously have major roles to play here.
“Guernsey has also been a contributor to this debate as a member of the UN’s Financial Centres for Sustainability (FC4S) network. I’m delighted that we have already reached agreement to work with the Green Finance Institute. Guernsey has a well-established role in supporting the City in financial services and we look forward to continuing to work with the Institute on climate finance.
“This was a very positive day for green finance and I’m sure that together, we can move forward more quickly.”
Guernsey launched the Guernsey Green Fund a year ago, which is the world’s first regulated fund product, offering investors certainty of the green credentials of the fund.
The island became members of FC4S last year, and last week it was announced that Guernsey would take the lead on the development of green finance as a workstream for the British-Irish Council.