Global PSSL publish consultation paper on ESG-driven securities lending and borrowing
14 September 2021 UK
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Global Principles for Sustainable Securities Lending (Global PSSL) have published a on ESG-driven securities lending and borrowing in emerging markets.
The draft hinges upon three components that relate to enabling market infrastructure, ensuring appropriate tax schemes and strengthening supportive legal foundations in various emerging markets.
To employ this standard, participating organisations will need to observe the central tenets of Global PSSL 鈥� as well as relevant regional ESG agendas 鈥� and demonstrate an active engagement with stakeholders, according to Global PSSL.
With an objective to be forward-looking, universal, fit for purpose and dynamic, the paper listed a number of challenges to delivering these aims, including a limited awareness of ESG, the stigma associated with certain aspects of securities lending and the limited participation of beneficial owners in securities lending programmes.
The draft was co-authored by International 麻豆影视传媒 Corporation鈥檚 (IFC) Oluwatoyin Alake, Stanbic IBTC鈥檚 Babatunde Majiyagbe, Global PSSL and University of Exeter Law School鈥檚 Dr Radek Stech, the South African Securities Lending Association鈥檚 (SASLA) Juanita Taylor, SASLA鈥檚 Jean Turner, and Global PSSL College of Advisors鈥� Roy Zimmerhansl.
The co-authors say: 鈥淲hen compared with more developed economies, the inherent flexibility of emerging markets grants them the agility necessary to adopt best practices. As this draft standard has identified, fragmentation is one of the barriers that increases costs and inhibits innovation.
鈥淕lobal PSSL brings a broader community of practitioners, also ESG experts, and, in turn, increases trust and confidence in the markets鈥�.
The consultation will end on 15 November 2021.
The draft hinges upon three components that relate to enabling market infrastructure, ensuring appropriate tax schemes and strengthening supportive legal foundations in various emerging markets.
To employ this standard, participating organisations will need to observe the central tenets of Global PSSL 鈥� as well as relevant regional ESG agendas 鈥� and demonstrate an active engagement with stakeholders, according to Global PSSL.
With an objective to be forward-looking, universal, fit for purpose and dynamic, the paper listed a number of challenges to delivering these aims, including a limited awareness of ESG, the stigma associated with certain aspects of securities lending and the limited participation of beneficial owners in securities lending programmes.
The draft was co-authored by International 麻豆影视传媒 Corporation鈥檚 (IFC) Oluwatoyin Alake, Stanbic IBTC鈥檚 Babatunde Majiyagbe, Global PSSL and University of Exeter Law School鈥檚 Dr Radek Stech, the South African Securities Lending Association鈥檚 (SASLA) Juanita Taylor, SASLA鈥檚 Jean Turner, and Global PSSL College of Advisors鈥� Roy Zimmerhansl.
The co-authors say: 鈥淲hen compared with more developed economies, the inherent flexibility of emerging markets grants them the agility necessary to adopt best practices. As this draft standard has identified, fragmentation is one of the barriers that increases costs and inhibits innovation.
鈥淕lobal PSSL brings a broader community of practitioners, also ESG experts, and, in turn, increases trust and confidence in the markets鈥�.
The consultation will end on 15 November 2021.
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