The Guernsey Green Fund Rules have been amended to make two liberalisations
The commission has announced two liberalisations to be amended into the Guernsey Green Fund Rules. This amendment was based on industry feedback gathered from a review in March 2021. A feedback statement has been published addressing the consultation feedback.
The changes to the Guernsey Green Fund Rules have been done to help provide assurance to green investors and to ensure they are investing in projects that comply with the criteria set out by the multi-lateral development banks.
The first amendment to the Guernsey Green Fund Rules is to only require a Guernsey Green Fund administrator to monitor the Guernsey Green Fund to a quarterly basis rather than monthly. This aims to reduce administrative workloads whilst still ensuring the notified green criteria and investment criteria are adhered to.
The second liberalisation enables more options for a fund to disclose themselves as a Guernsey Green Fund. Funds can make a market announcement on a recognised stock exchange to declare themselves as a Guernsey Green Fund.
The Guernsey Green Fund Rules (Amendment), 2021 came into effect on the 6th of July 2021 and a copy can be found here.
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