The Guernsey Financial Services Commission is poised to launch a regulatory initiative called the Guernsey Green Fund in a bid to position the island as a centre of green finance.
Compliance with environmental criteria will be required and it will be open to all types of funds. The commission expects to issue a consultation paper next month and hopes to launch the initiative by the middle of the year.
It also plans an initiative enabling insurance companies to access long-term investments which will allow them to offer sustainable long-term returns to policy holding and widen the pool of purchasers for green investments.
Guernsey Finance acting director of strategy, Andy Sloan, said that the ambition was to develop the broadest and best range of products with a green focus among international finance centres, incorporating investment, securities and insurance markets and services.
Sloan said: “The potential for green and sustainable finance is enormous and streams into major global initiatives. Action in this area supports a general repositioning of the island’s financial services offer.”
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