UK’s drive for green finance is a boost for Guernsey

05 July 2019

Written by Dr Andy Sloan Guernsey Finance

Dr Andy Sloan, Deputy Chief Executive of Guernsey Finance, was at London’s Guildhall this week for the launch of the Green Finance Institute and the UK’s Green Finance Strategy. He says it is exciting times for the sector.

London’s new Green Finance Institute was launched this week with the aims of finding solutions for sustainable finance, and making London the leading global centre for green finance.

It was a pleasure to be present at the event at London’s historic Guildhall and see significant momentum building in the green and sustainable sector.

Given the UK’s clear ambition in this space, it’s a real boost to Guernsey’s green strategy that we have already met with the Green Finance Institute’s leadership and agreed to work collaboratively.

Given the UK’s clear ambition in this space, it’s a real boost to Guernsey’s green strategy that we have already met with the Green Finance Institute’s leadership and agreed to work collaboratively.

The Green Finance Institute has been set up by the UK government and the City of London, and will act as an interface between the government and the private sector. It is expected to work through industry working groups of interested parties and is looking to create new commercial opportunities for the private sector.

One of its priorities, and one which perhaps aligns best with Guernsey, is to support the “greening” of the financial system.

We have met the Institute’s new Chief Executive, Rhian-Mari Thomas, and her team, and she said after last week’s launch event that some of the best ideas were coming from smaller and less-developed financial centres, not necessarily the world-leading centres.

The Institute is also looking directly at resolving issues, and doing so more quickly, just as Guernsey has made the effort to offer regulatory certainty for investors with our world-leading Guernsey Green Fund, launched last year.

Dr Thomas said: “The Green Finance Institute, as the principal forum for collaboration between the public and private sector, is thoroughly committed to identifying and unlocking barriers to the mobilisation of capital towards impactful, real economy outcomes.”

I am delighted that Guernsey is operating on this world-leading stage in green finance and look forward to meeting up again soon with the Institute to carry on our good work.

From third left, Sir Roger Gifford, Dr Rhian-Mari Thomas and Dr Andy Sloan with members of Guernsey Green Finance and staff from the Green Finance Institute.

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