Cardiff, 13 May 2026
Dr Radek Stech has published a new reflection paper co-authored with Roy Zimmerhansl, Head of Capital Markets, WTS Hansuke. The paper, titled “Rethinking Boundaries in Market Governance: Signals from Securities Lending Practice” [available here], builds on the authors’ earlier collaboration on securities lending and broader engagement across financial markets.
The paper reflects on themes including transparency, interpretation of market signals, ESG-related developments, and wider interconnectedness across the financial system. It also discusses the rationale for more practical and testable approaches to governance, including the development of the ABC Score™ (Assess, Balance, Calibrate™).
The next phase of this work will involve further review, continued engagement with stakeholders and the testing of initial metrics in practical settings, including in the context of global development. The work remains guided by the same principle that shaped the collaboration between the authors from the outset: a focus on action.
- END
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.
