What’s Next for Sustainable Finance? Key Takeaways from Jersey Finance’s Summit

This week, Jersey Finance marked the five-year countdown to 2030 by hosting its inaugural Sustainable Finance Summit. Attending the event has been an incredible experience, with thought provoking discussions and insights from leading experts in sustainability. 

A Call to Action 

After attending the Call to Action session on Monday and What's Next on Wednesday, one message was clear: the urgency to transform how we live and invest cannot be overstated. Mike Berners-Lee, author of No Planet B, shared compelling statistics on the profound impact our current lifestyles and investment choices have on the planet. 

A key takeaway from the summit? Many businesses are still falling short in genuinely embracing sustainability. Jersey, despite its smaller environmental footprint, has a major role to play as an International Finance Centre (IFC). With nearly $1.5 trillion in financial services managed here, we have both the responsibility and the opportunity to lead by example. 

But awareness alone isn't enough. Business leaders and trustees must move beyond acknowledging the importance of sustainability, they need to take decisive action. In an evolving landscape, assets are increasingly vulnerable to climate risks, from rising insurance costs to shifting investment trends. As Mike Berners-Lee reminded us: there is no Planet B. 

The Path Forward for Businesses 

To truly embed sustainability, businesses in Jersey and beyond must step up as stewards of responsible investment. Fiduciary duties now demand that we engage clients in conversations about sustainability, understanding their long-term values around environmental and social issues is no longer optional. 

In the next two years, companies must prepare for mandatory sustainability disclosures, following frameworks such as IFRS S1 and S2 from the International Sustainability Standards Board (ISSB). This means conducting thorough climate risk assessments and embedding strong compliance and disclosure processes within business operations. 

Jersey’s Sustainable Finance Action Plan sets clear, ambitious targets, enhancing risk management, embracing regulatory change, and seizing opportunities in sustainable finance. The sustainability conversation is no longer a side topic; it’s a fundamental business imperative. Now is the time to act. 

Looking Ahead 

A huge well done to Tom McKenna and the team at Jersey Finance for an incredible week of events. The auditorium looked fantastic, with the beautiful Jersey flowers adding a special touch.