ISLA reveals new ESG steering group
23 November 2020 UK
Image: Chinnapong/adobe.stock.com
The International Securities Lending Association (ISLA) has unveiled its new environmental, social and governance (ESG) steering group following the closure of its Council for Sustainable Finance (ICSF).
The sustainable finance agenda is "clearly gaining further momentum and it is becoming increasingly more apparent that we are moving rapidly from development and concept phases, to one of implementation,” says ISLA CEO Andrew Dyson.
ISLA established the ICSF at the beginning of the year to address the need to align securities lending with the broad aims of an ESG framework. However, its agenda split the trade body’s ESG efforts between the council and its related working groups.
As a result, ISLA is consolidating its ongoing efforts through its newly-formed ESG steering group, enabling it to benefit from the full resources of the association and deliver on its objectives.
The new group will be co-chaired by Dyson and Ciara Horigan, a senior member of the regulatory, industry and government affairs team at State Street, who leads on public policy positions in the area of sustainable finance.
ISLA will be working towards a new ESG policy framework that will be built around four key pillars: regulation, advocacy and consultations, best practice, and thought leadership.
Dyson explains: “As an association, it is vital that we develop arguments and dialogue that support the entire securities lending value chain and the various ranks within our membership.
“It is important that ISLA drives broad and open debates on the pivotal role of securities lending within the capital markets, and how that relates to our desire to align securities lending with ESG metrics,” he adds.
The steering group aims to provide direction and input into its four key pillars in line with other key disciplines such as market practice and collateral.
It will work closely with other product or business-specific working groups to ensure it delivers consistent messaging and solutions.
The first meeting of the ESG steering group will take place on 2 December.
The sustainable finance agenda is "clearly gaining further momentum and it is becoming increasingly more apparent that we are moving rapidly from development and concept phases, to one of implementation,” says ISLA CEO Andrew Dyson.
ISLA established the ICSF at the beginning of the year to address the need to align securities lending with the broad aims of an ESG framework. However, its agenda split the trade body’s ESG efforts between the council and its related working groups.
As a result, ISLA is consolidating its ongoing efforts through its newly-formed ESG steering group, enabling it to benefit from the full resources of the association and deliver on its objectives.
The new group will be co-chaired by Dyson and Ciara Horigan, a senior member of the regulatory, industry and government affairs team at State Street, who leads on public policy positions in the area of sustainable finance.
ISLA will be working towards a new ESG policy framework that will be built around four key pillars: regulation, advocacy and consultations, best practice, and thought leadership.
Dyson explains: “As an association, it is vital that we develop arguments and dialogue that support the entire securities lending value chain and the various ranks within our membership.
“It is important that ISLA drives broad and open debates on the pivotal role of securities lending within the capital markets, and how that relates to our desire to align securities lending with ESG metrics,” he adds.
The steering group aims to provide direction and input into its four key pillars in line with other key disciplines such as market practice and collateral.
It will work closely with other product or business-specific working groups to ensure it delivers consistent messaging and solutions.
The first meeting of the ESG steering group will take place on 2 December.
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