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Finance firms encouraged to contribute to ‘rewilding’ fund

Finance firms encouraged to contribute to ‘rewilding’ fund

Monday 25 January 2021

Finance firms encouraged to contribute to ‘rewilding’ fund

Monday 25 January 2021


Global financial services firms in Jersey are being invited to contribute to a new fund aimed at protecting wildlife and ‘rewilding’ ecosystems around the world.

Launched by Jersey Finance last week in conjunction with Durrell, the ‘Jersey Fund for a Wilder World’ is designed to give financial services firms in Jersey the opportunity to give a portion of their fees earned from sustainable finance workflows to a pooled central pot.

Contributing to the fund is voluntary, and is initially open to fund service providers, including administrators, law firms and accountancy firms, with the intention to ultimately open the fund up to a wider cross section of the island’s finance sector.

The inward investment of capital in the fund will contribute towards Durrell’s ‘Rewild our World’ strategy, which undertakes projects aimed at reviving and restoring diverse habitats around the world, ranging from Mauritius to India.

Lesser_night_gecko_waiting_to_be_weighed_at_Jersey_Zoo.jpg

Pictured: An example of a recent Durrell project in Mauritius - the lesser night gecko was one of three species transferred to Jersey Zoo following the Mauritian oil spill

The new eco fund aims to build on Jersey’s goal to become a ‘centre of excellence’ of sustainable finance, with Jersey Finance soon due to release its long-term strategy for the environmental, social and governance (ESG) space. 

It also follows Jersey Financial Services Commission’s consultation last year on enhancing disclosure and governance requirements for sustainable investments. Jersey is also one of just seven pilot jurisdictions taking part in the United Nations’ ‘United 4 Smart Sustainable Cities’ initiative, while the Government of Jersey is continuing work on its Carbon Neutral Strategy.

“The launch of this innovative scheme sends a clear message that Jersey is committed to the ESG agenda and to supporting global investment aimed at driving positive change, at a time when there is renewed vigour and accelerated progress in all areas of sustainable finance,” Elliot Refson, Head of Funds at Jersey Finance, said.

“I’m particularly pleased to be working with Durrell, which has such strong roots in Jersey but expertise and a reputation that extends right around the world, and to have already had such strong support from firms here in Jersey. This fund provides a fantastic opportunity for firms in Jersey to make a combined, clear and positive difference to natural environments around the world.” 

Durrell will also assume responsibility for monitoring, evaluating and providing a comprehensive analysis of the impact of the investment.

Durrell CEO Dr Lesley Dickie noted: “By bringing together our own knowledge and experience of global conservation with the international expertise of Jersey’s financial services industry, this fund can play an important role in realising our long-term goals.”

Tim Morgan, Chair of the Jersey Funds Association, commented: “Jersey’s funds industry has a long-standing track record in supporting ESG fund activity and we are seeing a strong uptick in investors choosing Jersey as their preferred platform for sustainable finance activity. Reflecting our ambitions to support and house cross-border ESG investment, our industry is overwhelmingly supportive of this fund, which has the potential to make a real difference around the world.”

Simon Boas, Jersey Overseas Aid, added: “Jersey takes its responsibilities as a good global citizen very seriously and does enormous good around the world, both through our thriving overseas aid programme and our role as a conduit of capital into developing countries. This is yet another example of Jersey changing lives for the better and shows why the Island is increasingly the jurisdiction of choice for both impact investing and philanthropy.”

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