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Home News GUERNSEY GFSC Enhancing Biodiversity – Sustainability Reporting in the Bailiwick of Guernsey – A Feedback Paper
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GUERNSEY GFSC Enhancing Biodiversity – Sustainability Reporting in the Bailiwick of Guernsey – A Feedback Paper

30/07/2025

The GFSC has today issued:

  • A Feedback Paper providing feedback to the responses received to the Commission’s Discussion Paper (“DP”) on The Future of Sustainability Reporting in the Bailiwick of Guernsey, issued in July 2024.

The DP:

  • Provided a summary of international developments in the area of sustainability reporting, including the work of the International Sustainability Standards Board (ISSB).
  • Sought to gather information and views from the finance sector on the potential impact of the ISSB's issued standards.

The majority of respondents were:

  • In favour of a proportionate approach to the adoption of ISSB reporting in line with international peers, with interoperability and flexibility of disclosure requirements being identified as key.

The Feedback Paper:

  • Confirms that the Commission has no plans to implement mandatory sustainability disclosure standards applicable to the regulated financial services sectors in the foreseeable future; and
  • Sets out that supervised entities may make disclosures in compliance with ISSB Standards voluntarily.

The DP also sought views on:

  • Additional steps which might be taken to enhance licensees’ sustainability risk governance and management.

And, after considering the feedback received:

  • The Commission is consulting on a proposal to amend the Financial Sector Code of Corporate Governance; and
  • Making clear the importance of board consideration of biodiversity/nature risks, alongside the consideration already accorded to climate change.

The Commission is also consulting on:

  • Explanatory guidance to make clear that greenwashing is already forbidden under the Minimum Criteria for Licensing.

SEE THE SURVEY HERE

The Feedback Paper can be found on the Commission's Engagement Hub: 

Related Links

Related Documents

source

https://www.gfsc.gg/news/enhancing-biodiversity-sustainability-reporting-bailiwick-guernsey-feedback-paper

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As well as owning and publishing Comsure's copyrighted works, Comsure wishes to use the copyright-protected works of others. To do so, Comsure is applying for exemptions in the UK copyright law. There are certain very specific situations where Comsure is permitted to do so without seeking permission from the owner. These exemptions are in the copyright sections of the Copyright, Designs and Patents Act 1988 (as amended)[www.gov.UK/government/publications/copyright-acts-and-related-laws]. Many situations allow for Comsure to apply for exemptions. These include 1] Non-commercial research and private study, 2] Criticism, review and reporting of current events, 3] the copying of works in any medium as long as the use is to illustrate a point. 4] no posting is for commercial purposes [payment]. (for a full list of exemptions, please read here www.gov.uk/guidance/exceptions-to-copyright]. Concerning the exceptions, Comsure will acknowledge the work of the source author by providing a link to the source material. Comsure claims no ownership of non-Comsure content. The non-Comsure articles posted on the Comsure website are deemed important, relevant, and newsworthy to a Comsure audience (e.g. regulated financial services and professional firms [DNFSBs]). Comsure does not wish to take any credit for the publication, and the publication can be read in full in its original form if you click the articles link that always accompanies the news item. Also, Comsure does not seek any payment for highlighting these important articles. If you want any article removed, Comsure will automatically do so on a reasonable request if you email info@comsuregroup.com.  

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As well as owning and publishing Comsure's copyrighted works, Comsure wishes to use the copyright-protected works of others. To do so, Comsure is applying for exemptions in the UK copyright law. There are certain very specific situations where Comsure is permitted to do so without seeking permission from the owner. These exemptions are in the copyright sections of the Copyright, Designs and Patents Act 1988 (as amended)[www.gov.UK/government/publications/copyright-acts-and-related-laws]. Many situations allow for Comsure to apply for exemptions. These include 1] Non-commercial research and private study, 2] Criticism, review and reporting of current events, 3] the copying of works in any medium as long as the use is to illustrate a point. 4] no posting is for commercial purposes [payment]. (for a full list of exemptions, please read here www.gov.uk/guidance/exceptions-to-copyright]. Concerning the exceptions, Comsure will acknowledge the work of the source author by providing a link to the source material. Comsure claims no ownership of non-Comsure content. The non-Comsure articles posted on the Comsure website are deemed important, relevant, and newsworthy to a Comsure audience (e.g. regulated financial services and professional firms [DNFSBs]). Comsure does not wish to take any credit for the publication, and the publication can be read in full in its original form if you click the articles link that always accompanies the news item. Also, Comsure does not seek any payment for highlighting these important articles. If you want any article removed, Comsure will automatically do so on a reasonable request if you email info@comsuregroup.com.