Jersey Finance has engaged with Andrew Mitchell, founder of specialist independent consultancy Equilibrium Futures, to support the Channel Island jurisdiction's drive to position itself as a global centre for sustainable finance.
As part of Mitchell's engagement with Jersey Finance, he and his team will work closely with the industry throughout the remainder of 2020 to provide insights into the rapidly evolving sustainable finance landscape, help set out a clear long-term vision for Jersey as a centre specialising in sustainable finance, and develop an initial two-year strategy that will build on existing and explore new opportunities across the environmental, social and governance (ESG) space.
Described as "an international thought leader on natural capital and environmental risk," Mitchell advises governments, companies and the financial sector on sustainable finance and opportunities linked to climate change and the environment. In 2019, he established Equilibrium Futures in Jersey (where he was born), as an independent consultancy focusing on seeking sustainable finance solutions globally.
It’s clear that asset owners are increasingly seeking investments with purpose, driven in part by a growing recognition of the impact of climate change."
Mitchell is also the founder of Global Canopy, a think tank in Oxford specialising in environmental risks and supply chains, and the co-founder of the Natural Capital Finance Alliance, the leading body engaging banks, investors, and insurers on natural capital. He is a fellow of the Royal Geographical Society (RGS) and an emeritus fellow in Environmental Understanding at Green Templeton College, Oxford.
Joe Moynihan, CEO of Jersey Finance, said: "Thanks to our approach as a forward-thinking finance centre, Jersey already has a huge amount of experience in supporting the sustainable finance needs of international governments, businesses, families and investors."
"However," Moynihan continued, "It's clear that asset owners are increasingly seeking investments with purpose, driven in part by a growing recognition of the impact of climate change and the rise of a new generation of millennial principals who are demanding higher standards of ESG in their portfolios. This will only be accelerated further as the world grapples with the fallout of covid-19.
"I'm really pleased that we will be working closely with Andrew over the coming months and benefitting from his insights as we look to bring some clarity to our ambitious long-term vision for the industry and develop a bold new strategy that places sustainability at the core of what we do."
Andrew Mitchell, Founder of Equilibrium Futures, added:
"I am delighted to have been given this opportunity to help shape a robust and forward-thinking sustainable finance strategy for the Island, in collaboration with Jersey Finance. The world in which finance has to operate is changing rapidly with new regulations coming into play, such as the European Taxonomy and Non-financial Reporting Directive, from which Jersey will not be immune. Impacts on planet and people are changing too; the World Economic Forum placed the environment in the top five risks facing companies in its 2020 Global Risks report. As a major IFC, Jersey should be in front of the wave on sustainable finance, not behind it, so this is a great opportunity to see that we get there and to set the pace for others to follow."