OPINION: The key takeaway from Sustainable Finance Week

Thursday 29 September 2022

Paul Sykes, Deputy Chair of GIBA, has shared his thoughts about this year's Sustainable Finance Week, hosted and organised by We Are Guernsey.

The event, last week, welcomed professionals from the UK and further afield to visit the island and join local practitioners to discuss how Guernsey’s finance industry can support sustainable development goals.

Below are Mr Sykes thoughts, in his own words: 

Pictured: Sustainable Finance Week is an annual event, hosted by We Are Guernsey.

"This year’s Sustainable Finance Week focused on biodiversity, carbon markets and pricing and the energy transition – all incredibly important topics for the industry’s clients and also, as was made clear during the week, for every organisation regardless of size, location or sector. 

A key takeaway was the focus on collaboration between private, public and third-sector organisations on climate-positive initiatives to meet net-zero targets. We have never tackled a task of this scale before, and it bodes well that important conversations and the start of collaborative relationships took place in Guernsey.

The quality of this year’s speakers, including Emma Howard Boyd, Chair of the Environment Agency and Adam Matthews, Chief Responsible Investment Officer at the Church of England Pensions Board, showcases Guernsey’s leading position in sustainable finance. It was pleasing to see so many of our local experts, including representatives from the Guernsey International Insurance Association, take to the stage alongside off-island industry colleagues. 

Equally impressive was the response from the local business community during this year’s fringe events. An additional 18 events took place across four days, all held by local organisations sharing expertise and knowledge between sectors, not forgetting the inclusion of local arts and schools which really emphasised the impact made by the finance sector in the local community.

Finally, the whole industry should be proud of another world-first, the launch of the new Natural Capital Fund Regime. The Guernsey Financial Services Commission has also extended the criteria for the Guernsey Green Fund and published anti-greenwashing guidance – adding to Guernsey’s credibility and substance in this investment sector.

Thank you, and congratulations to the Guernsey Finance team on another fantastic event. I look forward to seeing how this event will continue to grow next year."