Guernsey Finance welcomes the publication of guiding principles
for the development of taxonomies published today by the
International Network of Financial Centres for Sustainability
(FC4S), 'Building Shared Language for Green and Sustainable
Finance'.
Guernsey, identified by the think-tank Z/Yen as an
"emerging contender" in green finance, launched the
world-first 'Guernsey Green Fund' regulatory product
earlier this year. It is an observer to FC4S, the international
network for global finance, which is a partnership between global
financial centres and the United Nations.
UNFC4S's statement, 'Building Shared Language for Green
and Sustainable Finance', sets out how new definitions,
taxonomies, and other classifications for sustainable finance
should be developed. The proposals are intended to reduce
transaction costs, build market trust, and provide foundations for
the development of standards, products and asset classes.
