A membership network dedicated to transforming ESG practices within the financial markets trading industry has launched.
Sustainable Trading aims to bring firms together to devise “practical solutions” to industry-specific ESG issues, and to develop a mechanism for self-assessment and benchmarking.
It is led by Duncan Higgins, a senior adviser to Liberum's execution services business.
A spokesperson for the firm said Sustainable Trading members will consider the environmental impact of how the financial trading industry builds, maintains, and operates trading infrastructure along with focusing on diversity, inclusion, employee wellbeing, engagement with communities and a “stakeholder-oriented” approach to governance.
Higgins said the financial system has “tremendous capabilities” to lead its own transition to a more sustainable future.
“Working together we can create a robust, sustainable industry for the future; one where the principles of good environmental, social and governance practices are woven throughout our daily lives.”
Membership of Sustainable Trading is open to participants within financial services engaged in trading or providing trading-related services.
Founding members include Aegon Asset Management, Investec, M&G, Ninety One and State Street Global Advisors.
Cathy Gibson, global head of trading at Ninety One, said theshift by the investment management industry to incorporate ESG considerations has accelerated exponentially in the past decade.
"However, to make impactful and equitable changes in ESG it will take collaboration from across the entire industry," she said.
"The Sustainable Trading membership network brings together a diverse group of highly motivated firms that will drive industry led solutions in sustainable trading.”