Discussion Paper - The Future of Sustainability Reporting in the Bailiwick of Guernsey

Overview

The purpose of this Discussion Paper

This Discussion Paper, as trailed in the response to feedback on the Natural Capital Fund, is the next important step by the Commission in addressing the role of the Bailiwick’s finance industry in meeting the challenges presented by sustainability and climate change risks.  

The issues of sustainability, including climate change, are complex however it is clear that all areas of business and civil society are impacted and have a role to play.  This paper is intended to enable the Commission, in discussion with the finance industry, to explore the next steps that the Bailiwick of Guernsey can take to meet the challenges.

This discussion paper provides a summary of recent international developments in the area of sustainability reporting, including the work of the International Sustainability Standards Board (ISSB). The paper seeks to gather information and views from the finance sector on the potential impact of the introduction of the standards that have been issued by the ISSB.

The paper also seeks views on additional steps which might be taken to enhance licensees’ sustainability risk governance and management.

This discussion paper is a public document and feedback is welcomed from any interested stakeholder. Some questions are aimed at gathering information and views particularly from the Bailiwick’s regulated financial services sector.

What happens next

The Commission will consider the comments received and feedback will be provided thereafter.