Sustainable finance action plan

We are committed to supporting the global move towards more sustainable finance that considers environmental, social, and governance factors.

In the first half of 2024 the Government of Jersey undertook a public consultation on the island’s ambition concerning its policy and regulatory framework, and the possible intervention in four main policy areas:

• corporate sustainability disclosures
• risk and governance considerations
• anti-greenwashing and labelling
• use of strategic enablers

The feedback resulted in the Government of Jersey’s 2024 Sustainable Finance Action Plan in which the JFSC was tasked to lead the work to develop our regulatory framework in the following areas:

1. Corporate sustainability disclosures

We will be one of the first international finance centres to adopt a robust and proportionate disclosure framework, aligned to internationally recognised sustainability disclosure standards.

2. Sustainability risk management

We will embed sustainability risk management obligations within our regulatory framework, so that our financial services businesses, in line with the size and scale of their business operations, consider how to manage their sustainability risk exposure (including as to climate risk), therefore enhancing data analysis and operational resilience, ultimately helping to future-proof businesses for the benefit of our local community and the planet.

3. ESG business integrity risk

We will expand our existing principles-based anti-green washing measures both at product and at corporate level to ensure business advertising and client services are transparent, well informed and substantiated in the field of sustainability. This way Jersey maintains an environment with high market integrity able to promote its services in a fair, clear and effective manner. This will also enable recognition of our pedigree sustainable businesses.

In 2025 we will engage with industry, preparing to establish policy certainty by Q1 2026 in our three lead areas.

We will begin by conducting a short voluntary survey to help us better understand what corporate sustainability disclosure standards are currently being used in the financial services industry. This work will be followed by a consultation concerning our three lead areas.