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ESG news

Global PSSL continues outreach and appointments


15 March 2021 UK
Reporter: Drew Nicol

Generic business image for news article
Image: Global PSSL logo
Global Principles for Sustainable 厙惇勛圖 Lending (Global PSSL) will now welcome advisors from organisations that engage in securities lending directly, provided they sit outside the securities lending departments.

Global PSSL is an independent, not-for-profit community interest company tasked with encouraging standardisation and adoption of environmental, social and governance (ESG) principles within the global securities lending market.

In his latest progress report, CEO Radek Stech explains that some organisations are large beneficial owners and banks that engage in securities lending as a separate activity, which must be included in discussions on promoting ESG across the industry.

Nevertheless, Global PSSL strongly believes that securities lending plays a significant role in shaping the broader global sustainable finance agenda something we have already proven by taking a holistic approach, he writes.

Stech adds that the decision will advance Global PSSLs commitment to meeting Principle 1, which relates to global alignment across industry stakeholders.

Global PSSLs broad-church approach to ESG has previously seen it encourage engagement with borrowers, including prominent hedge funds and short selling research firms, such as Muddy Waters, which are not traditionally represented in industry working groups.

Elsewhere, Global PSSL continues to add depth to its bench of experts who it can draw upon to guide the development of its principles, while underscoring its global remit, with three additions to its College of Advisors.

First, co-founder of the Iraqi Stock Exchange, Hassan Aldahan, has rich experience in finance and the developmental agenda that spans Africa, the Middle East and the US.
Aldahan is also assisting the NXA foundation which assists unbanked and underbanked communities in Africa, allowing them to attain financial inclusion in rural areas with the utilisation of Central Bank Digital Currency.

Second, Onyeka Osuji is a distinguished expert in corporate social responsibility (CSR) and good governance at Essex Law School, says Stech, as well as a barrister and solicitor of Nigeria and a (non-practising) solicitor of England and Wales.

Osuji has also advised individuals, corporations, and national and international governmental and non-governmental organisations.

Third, Meagan Ringel, who has more than 20 years experience working in technology within the financial sector, with specialisation in both anti-money laundering and cybersecurity as an executive at JPMorgan Chase.

Ringle says she is committed to helping Global PSSL execute on its mission and make a positive impact on the securities lending industry in the coming months and years.

They join existing members including Pierpoint Financial Consulting co-founder Roy Zimmerhansl, who leads Global PSSLs global practice and outreach, and Kenneth Gutwillig, owner of wealth management firm Financial Decisions, who serves as the College of Advisors executive director.

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