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Ogier partner throws support behind Guernsey green initiative

News Team, 20/05/2022

Tim Clipstone

Tim Clipstone, funds partner at law firm Ogier, has voiced support for the proposals to create a Natural Capital fund designation in Guernsey.

Mr Clipstone specialises in investment funds at Ogier, and has been a member of Guernsey Finance’s green finance committee for over two years.

The Guernsey Financial Services Commission (GFSC) recently published a consultation paper, which proposed creating the designation.

This is designed to complement the existing Guernsey Green Fund regime. Launched in 2018, this allows qualifying funds to use the Guernsey Green Fund designation.

To be eligible for the Natural Capital Fund designation, a fund will have to set and monitor targets aligned with the United Nations’ Sustainable Development Goals, as well as the Convention on Biological Diversity’s Post-2020 Global Biodiversity Framework’s 2030 action targets.

The designation seeks to give investors confidence that a fund’s sustainable investment objectives align with the expectations it creates.

The GFSC has published another consultation paper, which proposes measures to counter greenwashing. This guidance recommends mandatory disclosure requirements for funds that make sustainability claims in their offerings or promotions.

Mr Clipstone commented: “Creating a fund regime that will help channel investment into biodiversity and natural capital projects is a significant step forward.

“This fund regime will provide investors with confidence that their investments are transparent and aligned to international reporting standards on nature-based targets.”

Ogier Guernsey is an off-shore law firm focused on private equity, fund management and other aspects of trusts and private wealth.

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