Guernsey To Add 'Green Funds' To Its Offering
by Jason Gorringe, Lowtax.net, London
27 April, 2018
Guernsey has launched a consultation on offering a regulated green investment fund product, believed to be a world first.
Draft green fund rules have been published, which would enable fund managers to apply for a green label for their funds if they can demonstrate compliance with certain environmental standards. It will be open to all types of new and existing funds.
"This move is part of our strategy to be the leading jurisdiction for green investment, offering the most comprehensive product, and we believe this is a world-first," said Andy Sloan, Acting Director of Strategy at Guernsey Finance, the island's financial services promotional agency.
"Guernsey has the benefit of already being a secure and experienced jurisdiction in which to hold investments and has the wealth of knowledge and expertise necessary to build a green fund platform on top of existing versatile structures," said Sloan.
The proposed green fund product is one of five initiatives rolled out since the beginning of the year to broaden Guernsey's offering as a leading international financial center.
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