The Channel Islands, as leading International Finance Centres, have key roles to play in directing capital flows to tackle today’s societal and environmental issues. Both Jersey and Guernsey are taking jurisdiction-level action on sustainable finance and are members of the UN Finance Centres for Sustainability network (FC4S). Both islands have clear sustainable finance strategies and are evolving their regulatory frameworks and enabling environments accordingly.
Banks, asset managers, insurers and administrators all have different challenges and opportunities arising from the focus on ESG and sustainable finance in the Channel Islands. We are seeing significant changes in what regulators, investors and clients expect from financial services businesses, both in terms of the ESG credentials of local operations and understanding the impact of assets under management. Two things, however, are clear: that this agenda is here to stay, and a strategic approach is increasingly helpful.
We have experienced local specialists in the Channel Islands with a wealth of expertise on ESG and sustainable finance. We also have access to our market-leading global expertise in this field, in the UK, Channel Islands and beyond across the asset and wealth management industry. We can help you whatever your starting point, from developing an ESG approach and strategy, through to data business integration, corporate reporting and disclosures, assurance and impact measurement. For funds, we can provide ESG support throughout the deal cycle; on acquisition, throughout the holding period and on exit, including value creation through net zero portfolio alignment. Please get in touch to discuss how we can help you.
In 2020, PwC Channel Islands joined the global PwC worldwide science based commitment to achieve net zero greenhouse gas (GHG) emissions by 2030.
This science-based target is to reduce absolute emissions by 50% against a 2019 baseline, which is aligned to a 1.5 degree global temperature rise scenario.
Continued energy efficiency improvements in our offices and halving the emissions associated with business travel and accommodation.
Use of renewable electricity and our investment in carbon removal projects.
Working with our clients and suppliers to help reduce emissions up and down our value chain and support efforts to decarbonise the economy.
ESG is an extremely wide field. What matters is that those material issues which have significant real or potential financial implications for your business are well understood and managed, from both a risk management and value creation perspective. We find the most successful businesses align this with a focus on purpose and strategy, and through ensuring they have the right skills and diversity of thought at Board level. We assist our clients to review roles, responsibilities and governance for ESG, to develop strategy, and to explore and define organisational purpose.
Reporting requirements for financial services on ESG are increasing in rigour and complexity in many jurisdictions. For example, the EU’s Action Plan on Sustainable Finance has some far-reaching implications, whilst implementation of the Taskforce for Climate-Related Financial Disclosures (TCFD) is now relevant in different contexts, including for UK listed companies and asset managers, and for signatories to the Principles for Responsible Investment (PRI). Take-up of voluntary best practice standards for impact investing are also increasing, for example the IFC’s Operating Principles for Impact Management. Working with our global experts in this field, we can support you with implementing requirements, such as strengthening governance and scenario testing under the TCFD. We can review your readiness for disclosure, help you develop your reporting, or alternatively we can provide independent verification and assurance over your disclosures to relevant international standards. We are also delighted to provide third party certification for funds under the Guernsey Green Fund and for TISE Green.
Guernsey Green Fund designation applies strict green eligibility criteria with the objective of a net positive outcome for the planet’s environment and the future of humankind. We are proud to be able to help you by providing third party certification that your fund meets the designation of, and can therefore use The Guernsey Green Fund kite mark.
TISE GREEN is The International Stock Exchange’s green market segment, and is open to any kind of green investment, including bonds, funds and investment vehicles, and trading companies. Issuers must provide verification of the investment’s green credentials against a globally recognised standard. We are delighted to also offer third party certification for TISE GREEN.
Ali is the Channel Islands' firm Sustainability & Climate Change subject matter expert. She has over 20 years’ experience of environmental and climate change policy and delivery across Europe, Latin America, Asia and Africa and across the public and private sectors.
Ali began her career in the UK government, and joined PwC's Sustainability & Climate Change consulting practice in London in 2008, working with a range of public and private sector clients on preparing for the impacts of climate change.
She now leads the CI firm’s ESG and net zero services, with a focus on helping asset and wealth management clients understand their ESG impact and net zero alignment, comply with mandatory and voluntary reporting requirements, and the implications of these for strategy, data analysis and integration.
