Jersey’s financial services regulator has joined an international network seeking to improve environment and climate risk management in the sector.
The Jersey Financial Services Commission has been accepted as a member of the Network for Greening the Financial System.
The regulator's membership was announced at COP26 in Glasgow.
The NGFS is a network for Central Banks and Supervisors who, on a voluntary basis, exchange experiences, share best practices, contribute to the development of environment and climate risk management in the financial sector.
Jill Britton, JFSC Interim Director General, said: “Joining this important global network of financial supervisors enables us to contribute to the development of environment and climate risk management, to share ideas and to bring that best practice directly into our work.
Pictured: JFSC Interim Director General Jill Britton.
“Along with Government, other Island agencies, and Industry, we are committed to taking an active role in supporting the worldwide transition to a sustainable economy and our membership of NGFS is an important step as we develop that work.”
The Commission’s Sustainable Finance Lead, Matthew Clegg, added: “This year we introduced straightforward and effective disclosure requirements for funds in order to mitigate the risk of ‘greenwashing’.
“There is much more to be done and joining the NGFS helps us on this journey. Our membership combines with our local membership of ‘Jersey for Good – A Sustainable Future’ and will help us in bringing a global perspective to our vital work supporting the development of sustainable finance in Jersey.”
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