Global PSSL Establishes Asset Owners Council as part of New Council Structure
(Cardiff, 31 October 2024) Global Principles for Sustainable Securities Lending Community Interest Company (Global PSSL CIC) is thrilled to announce the establishment of its Asset Owners Council to enhance transparency, good governance and sustainability in securities lending. Asset owners are leading the way in forming our new council structure that will have a brand-new Active Briefing Culture® to increase transparency, clarity and efficiency throughout the whole securities lending value chain – and beyond.
The National Employment Savings Trust (Nest) chairs the Asset Owners Council, which includes Merseyside Pension Fund and PGGM as founding organisations. Our 3P Transparency tool has enabled the establishment of this council as part of our commitment to enhance governance, with inputs from United Nations reviewers.
Radek Stech, CEO & Founder of Global PSSL CIC, expressed his enthusiasm: “I am delighted that the Asset Owners Council is live as part of the Global PSSL family as we are all committed to increasing transparency and stakeholders’ understanding of the whole value chain. I am also glad that our 3P Transparency tool and new Active Briefing Culture® serve as governance mechanisms on the journey to achieving that goal. This aims to stem the rise in legal and regulatory cases relating to securities lending in recent years.”
Diandra Soobiah, Director of Responsible Investment at Nest said: “Nest is looking forward to chairing GPSSL’s new Asset Owners Council. This initiative represents a significant step towards integrating sustainability, transparency and accountability into the securities lending markets in the interests of asset owners. We hope the Council will serve as an influential voice in Global PSSL, and wider value chain, to improve the functioning of the market globally.”
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Contact Information regarding this press release:
Dr Radek Stech: radek.stech@gpssl.org
Ela Slota, Executive Assistant: ela.slota@gpssl.org
Nest: https://www.nestpensions.org.uk/schemeweb/nest/nestcorporation.html
Merseyside Pension Fund: https://mpfmembers.org.uk/
PGGM: https://www.pggm.nl/en/
About Global PSSL
Global Principles for Sustainable Securities Lending (Global PSSL) is the fundamental global mechanism for aligning securities lending with transparency and sustainable finance. It has been co-created by Dr Radek Stech, prominent asset owners, asset managers, sovereign wealth funds, banks, hedge funds other stakeholders committed to positive change since 2018. Global PSSL has received significant funding from the Economic and Social Research Council (ESRC), part of UK Research and Innovation, through the Sustainable Finance – Law – Stakeholders (SFLS) Network at Exeter Law School in addition to some financial assistance from some industry stakeholders. The ESRC grant request was designed based on earlier engagement with stakeholders shaping values-based banking, green bonds and sustainable project finance as well as continuous contact, research and discussions with staff from the World Bank (the official partner on the grant). In order to preserve its impartiality, the Global PSSL framework is based within its own independent community interest company.
