| Department | Department for the Economy |
|---|
| Start date | 04/03/2024 |
|---|
| End date | 26/04/2024 |
|---|
| Type of consultation | Green paper |
|---|
| Deadline for comments | 26/04/2024 |
|---|
About the consultation
A sustainable finance policy and regulatory framework is being developed which balances and develops different sustainable finance objectives, including:
- continuing to protect and promote Jersey as an international finance centre (IFC)
- dealing with increasing expectations that the finance sector will take account of environmental factors such as climate change, loss of biodiversity and pollution prevention
- ensuring that long-term investments are in sustainable economic activities
- considering the social impact of activities and helping reduce inequality and poverty, increase inclusion, and investment in people and communities
- ensuring that public and private institutions include social and environmental considerations in all decisions they make
This consultation aims to gather the views of businesses and employees in the finance services sector and in the wider economy and community. The feedback should be on the possible levels of Government intervention in four main policy areas:
- corporate sustainability disclosures
-
risk and governance considerations
- anti-greenwashing and labelling
- use of strategic enablers
Consultation paper on designing a policy and regulatory framework for sustainable finance in Jersey
Background to the Sustainable Finance Policy Framework
The growth of sustainable finance is a global trend, presenting significant market opportunities and reshaping the markets in which Jersey operates.
Globally, meeting the
Sustainable Development Goals by 2030 or achieving
net zero emissions by 2050 will require more than $10 trillion in annual average spending. To achieve that level of financing, both public and private capital will be required.
Government's Financial Services Policy Framework recognises that Jersey, as an IFC, has a central role to play in supporting the global transition to carbon net zero as well as supporting
Jersey’s own commitments under the Paris Agreement. We therefore must deliver a legislative and regulatory framework which aligns our industry to the international standards and obligations for sustainable finance.
How to submit comments to the consultation
This consultation welcomes the views from:
- the financial services sector (both from individual employees as well as responses representing the views of the firms as a whole)
- non-financial services businesses
- representative bodies across the economy
- the general public
The questions set out in the consultation document are repeated in the online survey:
Complete the sustainable finance consultation
You can also submit your response:
- by email to
Economy@gov.je FAO Miguel Zaragoza
- by post to: FAO Miguel Zaragoza, Associate Director of Financial Services, Department for the Economy, 19-21 Broad Street, St Helier, JE2 3RR
Jersey Finance will also be collating an industry response. These responses should be sent:
- by email to
Amy.Bryant@jerseyfinance.je
- by post to: Amy Bryant, Jersey Finance Limited, 4th Floor Sir Walter Raleigh House, 48-50 Esplanade, St Helier, JE2 3QB
Data Protection
The information you provide will be processed in compliance with the Data Protection (Jersey) Law 2018.
Find more information in the
Department for the Economy Privacy Notice.
The Government of Jersey may quote or publish responses to this consultation but will not publish the name and addresses of individuals without consent.
Types of publishing may include:
- sending to other interested parties on request
- sending to the Scrutiny Office
- quoting in a published report
- reporting in the media
- publishing on the Government website
- listing on a consultation summary
Confidential responses will still be included in any summary of statistical information received and views expressed.
Under the Freedom of Information (Jersey) Law 2011, information submitted to this consultation may be released if a Freedom of Information request requires it, but no personal data may be released.
Child Rights Impact Assessment
The decision to publish the consultation does not have a direct effect on children and young people. Formation of a sustainable finance policy may indirectly impact children and young persons some way into the future when the benefits of encouraging such a regime are felt more widely globally.
gov.je