Discussion paper on the future of sustainability reporting in the Bailiwick of Guernsey

The Guernsey Financial Services Commission has today issued a discussion paper seeking views on international sustainability reporting in the Bailiwick. The 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 presented by sustainability and climate change risk.

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), and seeks to gather information and views from the finance sector on the potential impact the introduction of these standards could have.  The paper also seeks views on additional steps which might be taken to enhance licensees’ sustainability risk governance and management.

Commenting on the discussion paper, Co-Deputy Director General, Investment, Fiduciary and Pension Division, Gillian Browning, said: “This discussion paper is deliberately discursive because we are eager to receive feedback regarding what could be appropriate and proportionate regarding sustainability reporting for the Bailiwick. The Commission considers this to be an important topic but remains open minded regarding what the next steps should be”.

The Discussion Paper can be found on the Commission’s Consultation Hub, with responses sought by 25 October 2024.