Jersey Finance, in partnership with sustainability advisory firm True, recently hosted a series of engaging and thought-provoking “Imagine If” workshops tailored to professionals across the local private wealth and banking sectors.
During the sessions attendees were grouped together and engaged in real-time decision-making exercises using Clairo’s AI-enabled scenario simulator, encouraging them to reflect on the resilience of their fictional Jersey-based organisations under sustainability related stress. The exercise pushed participants to navigate trade-offs, assumptions and the system dynamics behind risk.
The simulations created a valuable forum for challenging assumptions, testing governance frameworks and understanding the financial materiality of environmental and social risks.
Key takeaways:
Sustainability risks are financial risks: Ecological and social disruptions such as extreme weather, resource scarcity or political volatility are increasingly translating into financial exposure across global markets.
Jersey is globally connected and globally vulnerable: As an international finance centre, Jersey’s exposure to global shocks underscores the need for proactive, systemic risk awareness and governance.
Double materiality is key: Businesses must recognise how their operations impact people and the planet (impact materiality) and how those impacts rebound through regulation, market shifts or client trust (financial materiality).
Resilience is systemic, not local: From supply chain fragility to biodiversity loss, the cascading nature of sustainability risks means financial institutions must think beyond traditional risk frameworks.
Boards and leadership must act now: Integrating sustainability into governance, risk management and reporting frameworks is not just good practice, it’s fast becoming a fiduciary responsibility.
Practical next steps:
- Conducting a sustainability materiality assessment, True demonstrated and strongly encouraged the use of the SASB Materiality Finder
- Embedding sustainability into enterprise risk management and board oversight
- Aligning reporting with frameworks like Sustainability Accounting Standards Board (SASB) to bring clarity to complexity
- Upskilling teams to ensure sustainability awareness is embedded across all roles
As Michelle Ryan, Director of True highlighted, the goal is not prediction but preparation. The workshops served as a timely reminder that sustainability is no longer a parallel agenda. It is central to long-term business resilience, competitive positioning and value.
Attendees were encouraged to continue these conversations within their organisations and to act today to build a more resilient, future-ready financial system.
In response to popular demand, we have added two additional dates for “Imagine If” workshops. Attending one of these in-person CPD-accredited workshops will give you a broader understanding of sustainability risks and a framework for identifying risks in your own business.
