Cayman: CIIPA ESG committee convenes first meeting in 2022
• CIIPA ESG committee focused on sustainable and socially responsible investing
• Members include key stakeholders from Cayman Islands Government, financial services and accountancy firms
• Will examine Cayman’s impact on ESG initiatives globally and locally
George Town, Cayman Islands, 18 January 2022
Several key stakeholders from the Cayman Islands Government, financial services industry and accountancy firms met Wednesday (12 January) for the first meeting in 2022 of the Cayman Islands Institute of Professional Accountants’ ESG Committee.
The committee’s aim is to work toward promoting practices and standards that support the Cayman Islands in becoming a global green finance centre and, ultimately, offer solutions to urgent global problems like climate change.
“ESG initiatives are a priority for CIIPA and its members,” CIIPA Chief Executive Officer Sheree Ebanks said. “Cayman is in a position to be the global green finance and ESG leader. That can be achieved through the many funds managed here with the resources to make the world a better place as well as raising awareness on ESG and promoting local practices.”
ESG stands for environment, social and governance. It is a framework to assess three central factors in measuring the sustainability, social responsibility and ethical structure of an organization.
This could, for example, refer to a firm that encourages clients to invest in green funds, but also includes a company’s practices relating to inclusion and transparency.
“The formation of this committee comes at a most opportune time and I am delighted to be selected to chair it,” KPMG’s Jodie McTaggart said. “With the recent announcement that the Government is working on a legislative framework for the implementation of ESG criteria for the financial services industry, we see incredible opportunities for Cayman to be at the forefront of the development of green, blue and sustainable finance. ESG is the new lens through which companies worldwide will be evaluated. Our committee will help drive the ESG agenda locally as well as help Cayman contribute to global issues such as Climate Change.”
In addition to Ms. McTaggart, the committee includes EY’s Eleanor Fisher, Ogier’s Angilynn Baraud, Clearwater’s Richard Harrison, PwC’s Kelli Dawson, Deloitte’s Lawrence Usher, Artex Risk’s Anna Ghandilyan, KPMG’s Arnaud vanDijk, CUC’s Ravi Persad, Waystone’s Rebecca Palmer, MNP’s Edward Olson, Ministry of Financial Services’ Michelle Bahadur as well as Sheree Ebanks and Kevin Morales, from CIIPA.
For 50 years, CIIPA has worked to further the public interest by providing oversight to the accounting profession. The organisation is committed to promoting the highest standards of professional and ethical conduct, while supporting the growth of the profession. CIIPA is a full member of the International Federation of Accountants (IFAC), the worldwide organisation representing the profession, and prides itself on its role as both an educator and regulator in the financial services industry.
COVID-19 Update: The CIIPA office will be closed through Friday, January 21. All staff will be working remotely until further notice. Thank you for your understanding.