ISLA’s ESG council publishes first position paper


The International Securities Lending Association’s (ISLA) newly-launched Council for Sustainable Finance (ICSF) has released its first ‘position paper’ to address the role of lending and short selling during periods of heightened volatility.

ISLA formed a Council for Sustainable Finance (ICSF) late last year with the aim of introducing a set of principles of sustainable securities lending (PSSL).

The PSSL is a voluntary rules framework aimed at promoting environmental, social and governance (ESG), sustainable development goals, and long-term thinking into securities lending activities.

Amid the current COVID-19 pandemic and the market disruption it has caused, the council has published a paper called ‘Making Sense of Sustainable Securities Lending & Short Selling During the COVID-19 Crisis’, which argues that securities lending and short selling are positive mechanisms as long as they conform with its PSSL framework.



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