Guernsey is set to launch the world's first regulated green investment fund product.

The island's financial services regulator, the Guernsey Financial Services Commission, has published a set of draft green fund rules for consultation. They will enable fund managers to apply for a green label for their funds if they can demonstrate compliance with defined green rules. It will be open to all types of new and existing funds, authorised, registered, Guernsey Private Investment Funds, open-ended and closed-ended, with different levels of certification available.

"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 Dr Andy Sloan, Acting Director of Strategy at the industry promotional agency Guernsey Finance.

The international finance centre has focused on green investment as one of five strands of its new financial services development strategy, rolled out at the beginning of the year.

Dr Sloan said that the Guernsey green investment fund would assure investors that their investments are being used for environmental purposes which are established and monitored against a reliable set of standards.

"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," he said. "Showing that we are capable of committing finance to the environment is a strong indication that Guernsey is an innovative and forward-thinking place in which to do business and demonstrates that we are mindful of international climate obligations."

For more information about Guernsey's finance industry please visit www.weareguernsey.com.

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