Against a backdrop of increased demand for environmental, social and governance (ESG) funds, our ESG focussed Funds Masterclass brought together an expert panel to consider each element of the ‘ESG’ conversation, discussing in turn the environmental, social, and governance considerations. They also examined how Jersey as a jurisdiction best caters to the needs of socially conscious investors.
David also commented on what Jersey is doing well, and how it can improve: “ESG is not just a risk problem, but a massive opportunity. Jersey has a really good legal profession, we know how to set up funds, and we have a very supportive regulator, and now the regulator is coming up with new ESG codes, so we are all moving in that direction. I think we’re in a good position to do that [attract more funds here in the future] but we need to tweak the system a bit.”
Additionally, speaking about Jersey being at the forefront of governance, Felicia added: “Governance, good governance, is one of Jersey’s great strengths and is one of the things we pride ourselves in, as part of our offering and part of our reputation. And I think a large part of what underpins that is our human capital, our people, we’ve got roughly 14,000 finance professionals… there’s a wealth of expertise and diversity of experience that we have.”
Eva also commented on the rising concerns of investors, saying: “The questions we are asked a lot, and increasingly in the past 12 months, by our investors, are around diversity and inclusion.”
When questioned about the Government’s role in the future of ESG investing in Jersey, Charlotte explained: “Historically, certainly when we did the last financial services strategy, it was put in as a core principle that we should maintain this position of good regulation and compliance with international standards, we are a member of the OECD which deals with tax disclosures, though Moneyval we have the FATCA disclosures. It’s coming our clear that the reputation of having a good strong regulator, and continuing to be compliant and be politically in that right space is absolutely pivotal to Jersey’s success and its future as an IFC.”