Global PSSL publishes consolidated T&Cs 23 December 2021UK Reporter: SFT
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Global Principles for Sustainable Securities Lending (Global PSSL), through its community interest company, has issued consolidated terms and conditions (T&Cs) for stakeholder engagement.
These new T&Cs clarify roles and responsibilities for stakeholders to the project and introduce an “internal rule for long-term thinking”. This provides a framework guiding how stakeholders engage with Global PSSL principles and how they help these to develop.
Global PSSL chief executive Radek Stech says: “The principles-based approach towards sustainable securities lending makes sense only when the issuing organisation and its leadership are bound to focus on making improvements in the long term.
“Our strengthened governance will meet the ambitions of those organisations and individuals that advocate and implement improvements in the industry. This will result in a broader virtuous circle for transparent and sustainable finance.”
PGGM investment manager Roelof van der Struik says: “Geometry dictates that the shortest distance between two points is a straight line. The route to sustainable securities lending goals will not be a straight line and the end destination never reached as there will always be room for improvement.
“With this framework, the Global PSSL community is embarking on a journey with a clear direction of travel but also with the realisation that the journey is just as important as the destination and that our work will never be done.”
Fez Yousaf, fund administration manager at Nest Corporation, adds: “Responsible investment practices in securities lending are a pivotal step towards greater market confidence.
“By publishing clear governance and ensuring genuine commitment, the Global PSSL is evidencing how it is setting the trend in sustainable finance.”
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Image: AdobeStock/j-mel 