Following on from the earlier communication in December 2019, the International Securities Lending Association (ISLA) is pleased to release further details of the ISLA Council for Sustainable Finance (ICSF).
The primary objective of ICSF is to trigger a series of changes throughout the industry, so as to shift the broader securities lending market onto a sustainable pathway. This objective is undoubtedly ambitious, but it is a necessary step if we are to ensure responsible working practices and reliable growth. The ICSF comprises six prominent beneficial owner institutions (Aberdeen Standard Investments; Aviva Investors; BlackRock; KBC Asset Management NV; NN Investment Partners; and PGGM) and four partner organisations (ESRC funded Sustainable Finance – Law – Stakeholders (SFLS) Network of Exeter Law School; the World Pensions Council (WPC); Financial Decisions, LLC; and Pan Asia Securities Lending Association (PASLA)).
Radek Stech, ICSF Chair said, “I am convinced that the Council’s work will increase global confidence in sustainable securities lending.” He also emphasised that there will be further announcements on how ICSF is going to progress through its initial implementation stages, with the view to reaching maturity in the next few years so as to achieve the groups ambitious vision.
According to Andrew Dyson, CEO, ISLA, “We are delighted with the formation of the ICSF, which to my mind, compliments and supports the ongoing advocacy and best practice efforts of the Association in the context of ESG and securities lending”.
- Full details of the ICSF Council Executive member representatives, as well as links to the vision, mission, outcomes and governance framework can be found on the ISLA Council for Sustainable Finance page
- Visit the Principles for Sustainable Securities Lending (PSSL) page within Regulation & Policy for further information and outputs from the group.
As part of the ICSF’s official launch, we will be holding a roundtable event in Brussels over the coming months, inviting representatives from across the institutional investor community, regulators and policy makers, press, think tanks, and other international organisations to understand the groups broader strategy and objectives.