News

Green Insurance in Guernsey

7th November 2018

The Commission is pleased to release a discussion paper on the development of green insurance in Guernsey. The paper considers how the Bailiwick might become a supportive jurisdiction for green insurance and welcomes feedback from third parties. The fundamental challenge of a warming planet is not going to go away and there will be a continuing demand for measures to mitigate climate change.

In recent years, both insurers and insurance regulators have begun to consider how to respond to climate change. Therefore, this paper sets out how the Commission might support the development of green insurance in Guernsey through regulatory change and considers private sector opportunities.

The discussion paper forms part of Guernsey's Green Finance initiative and follows the Commission's launch of the first regulated green fund rules earlier in the year. The latter is designed to give enhanced certainty to those wishing to make high quality green investments.

The discussion paper can be found here.

The Commission would be grateful for feedback and would draw attention to the list of questions on page 9 of the paper. Respondents are encouraged to submit their comments online using the Commission’s Citizen Space Consultation Hub which can be found here.

Responses may also be sent to [email protected] or in writing to:

 Lynn Harris

Banking and Insurance Division                                             Telephone: 01481 712706

Guernsey Financial Services Commission                              Fax:            01481 726952

Glategny Court                                                                      

Glategny Esplanade

St Peter Port

GY1 4HQ

 

 Closing date for responses to the paper is 29 March 2019.

 

 Jeremy Quick

Director of Banking and Insurance Division