The strategic themes and early work at the roundtables have highlighted the need to develop and coordinate workstreams under Global PSSL. There will be the foundational workstream on principles that will guide the whole initiative, and focussed workstreams that describe potential impact areas.
Focussed Workstream: Global Engagement, Governance and Stewardship
This workstream will focus on fostering an excellent relationship between fund managers and securities lending experts, and critical matters relating to sustainable finance governance and stewardship globally. Roelof van der Struik of PGGM is the Chair of this workstream.
Focussed Workstream: Sustainable Securities Lending and Emerging Markets
Global PSSL is driven by a steadfast commitment to become a global market standard that will influence the securities finance market and broader sustainable finance agenda. We believe we will realise this ambition by including the position of the emerging markets, where we will also identify global future leaders. This is an opportunity to embrace fresh and creative ideas that contribute to building unique solutions for sustainable securities lending in those markets. This approach will also enhance the current paradigm in well-established economies through innovation and fresh-thinking. This workstream is co-chaired by co-chaired by Oluwatoyin Alake and Juanita Taylor.
Focussed Workstream: Short – Long Investments and ESG
Exploring and understanding the relationship between short and long investments and short activism must sit at the core of our impact. Furthermore, there is potential to emphasise the role of environmental and social matters in addition to ongoing discussions on governance aspects. This workstream is co-chaired by Carson Block (Muddy Waters CapitalLLC), Gabriel Grego (Quintessential Capital Management), John Hempton (Bronte Capital) and Radek Stech (representing Exeter Law School).
Foundation Workstream: Global Principles
This workstream will be a continuous evolution of the Global PSSL mission. It will bring together all stakeholders from the initial roundtables. Its initial focus will be to co-create the Principles and issue them for consultation in 2020 (with a view to endorsements in 2021). The foundation workstream is facilitated by Dr Radek Stech (CEO).