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

The Guernsey Financial Services Commission, has published a set of draft green fund rules, for consultation on the scheme.

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.
 
The Channel Island 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.

Andy Sloan, acting director of strategy, at the industry promotional agency Guernsey Finance, said: “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.”

Dr Sloan added 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.”