Tuesday 5th October 2021
Global PSSL issues two progress reports and announces a review of its workstreams
Global Principles for Sustainable Securities Lending (Global PSSL) has issued two new progress reports that provide an overview of its important work on market standards for the securities lending sector. The standards, on Interconnected Collateral and Sustainable Securities Lending in Emerging Markets, are the result of focussed workstreams that Global PSSL has been running over the past year.
The workstreams are important for implementing the high-level Principles themselves and an opportunity for the securities lending industry to engage in dialogue that results in tangible impact. Over the past year, Global PSSL has arranged four focussed workstreams: (1) Global Engagement, Governance and Stewardship; (2) Short – Long Investments and ESG; (3) Sustainable Securities Lending and Emerging Markets; (4) Interconnected Collateral. Global PSSL has also engaged with a broad community of practitioners, along with wider stakeholders, to develop the high-level principles and market standards that will guide those committed to sustainable finance.
Global PSSL will announce incremental changes to the workstreams in Consolidated Terms and Conditions for Stakeholder Engagement soon.
Radek Stech, CEO of Global PSSL said, “Choosing the right practices for our workstreams has proven critical in focussing on the right issues. All four workstreams have published draft standards and our community of stakeholders is eager to embrace these. However, the work doesn’t stop there. Global PSSL is an iterative process – feeding and growing from the experiences of our community. I’m very encouraged by this progress, and look forward to working with industry to push the sustainable agenda forward.”
Global PSSL has received significant funding from the Economic and Social Research Council (ESRC), part of UK Research and Innovation, through Dr Stech’s Sustainable Finance – Law – Stakeholders (SFLS) Network.
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For more details, please contact Dr Stech: radek.stech@gpssl.org and/or Ela Slota, Executive Assistant at press@gpssl.org
About Global PSSL
The Global Principles for Sustainable Securities Lending (Global PSSL) is the fundamental global mechanism for aligning securities lending with sustainable finance. This voluntary initiative has been developed through years of research based engagement between Dr Radek Stech, representing the SFLS Network at Exeter Law School, prominent beneficial owners and several agent lenders and other stakeholders committed to positive change.
In order to preserve its impartiality, the Global PSSL framework is based within its own independent community interest company, led by Dr Stech.
