Jersey Finance has welcomed the recent adoption of the Carbon Neutral Roadmap (CNR) by Jersey’s legislature, the States Assembly, as a ‘key milestone’ in cementing Jersey’s ambitions as a sustainable island.
The CNR was adopted overwhelmingly by States Members on 29th April, with a number of amendments around reporting requirements and increased investment in active travel initiatives.
It forms the framework for Jersey achieving its target of becoming carbon neutral by 2030 and net-zero by 2050, delivering on the Climate Emergency declaration that was made in 2019, as well as meeting its commitments under the Paris Agreement and implementing the recommendations of the Jersey Citizen’s Climate Assembly.
Jersey Finance supported the Government’s work on the CNR through a series of workshops involving firms from across the industry and was an active participant in the CNR consultation process.
David Postlethwaite, Sustainable Finance Lead at Jersey Finance, said: “This is a significant indication of progress, representing another key milestone in Jersey’s ambitions to tackle climate change and, from a finance industry perspective, underlines our commitment to asserting our strengths as a centre for sustainable finance.
“Our sustainable finance strategy was launched just over a year ago and it absolutely recognises and advocates that our vision as an industry – to be recognised as a leading centre for sustainable finance in the markets we serve – is intrinsically linked to the island’s overall efforts to transition to a carbon-neutral and ultimately a net-zero position. We’ve made good progress in collaborating with stakeholders, including partners in Government, over the past year and the adoption of the CNR provides added momentum in realising our shared vision.”
Over the past twelve months, Jersey Finance has made a strong start on scaling up Jersey’s sustainable finance credentials. Alongside supporting the implementation of policies such as new rules to prevent “greenwashing”, it has obtained membership of the UN-convened Network of Financial Centres for Sustainability (FC4S), undertook the first baseline stocktake of sustainable finance in Jersey benchmarked against the UN Sustainable Development Goals, and worked with partners such as the Chartered Institute for Securities and Investment (CISI) to offer targeted upskilling opportunities in sustainable finance.