News

The JFSC has joined NGFS, a network to help improve environment and climate risk management in the financial sector

16/11/2021

The following is an JFSC industry update 15 November 2021

We have been accepted as a member of the Network for Greening the Financial System (NGFS). This was announced at COP26 in Glasgow by the NGFS Chair, Frank Elderson.

NGFS is a network for Central Banks and Supervisors who, on a voluntary basis, exchange experiences, share best practices, contribute to the development of environment and climate risk management in the financial sector.

Jill Britton, Interim Director General, commented: “Joining this important global network of financial supervisors enables us to contribute to the development of environment and climate risk management, to share ideas and to bring that best practice directly into our work.

Along with Government, other Island agencies, and Industry, we are committed to taking an active role in supporting the worldwide transition to a sustainable economy and our membership of NGFS is an important step as we develop that work.”

Matthew Clegg, Sustainable Finance Lead, added: “This year we introduced straightforward and effective disclosure requirements for funds in order to mitigate the risk of greenwashing. There is much more to be done and joining the NGFS helps us on this journey. Our membership combines with our local membership of Jersey for Good – A Sustainable Future, and will help us in bringing a global perspective to our vital work supporting the development of sustainable finance in Jersey.”

Source:

https://www.jerseyfsc.org/news-and-events/weve-joined-ngfs-a-network-to-help-improve-environment-and-climate-risk-management-in-the-financial-sector/

JERSEY