Guernsey’s ambition of becoming the pre-eminent green and sustainable finance centre in Europe took another step forward this week as the Guernsey International Insurance Association became a supporting institution of the United Nations’ Principles for Sustainable Insurance (PSI) Initiative. The PSI will serve as a framework to identify, assess, manage and monitor risks and opportunities associated with ESG issues, enabling the insurance industry in Guernsey to contribute to building a resilient, inclusive and sustainable society.

This comes on the heels of the voluntary green principles for private equity launched by Guernsey Green Finance at the beginning of this month, a set of best practice green and sustainable principles for the PE industry.

Both initiatives demonstrate the jurisdiction’s commitment to developing green and sustainable finance across its core market sectors, and to using the island’s finance industry to contribute towards the fulfilment of the UN’s Sustainable Development Goals.

As we look forward to an era of post-Covid financial recovery it is clear from players on all sides of the finance industry that sustainability will be a key factor in that recovery.