Sustainable Finance Summit Summaries

A New Era of Wealth Management

At day two of Jersey’s Sustainable Summit, Andrea Castaño de la Torre, a gender specialist in inclusive economics and finance, explored the transformative impact women are having on the financial industry. As wealth shifts into women’s hands through inheritance, they are reshaping finance by prioritising sustainability and long-term value creation.

Andrea explained how women tend to prioritise high-quality personal relationships when it comes to financial advice, where trust is built on transparency, clarity, and open communication. Their expectations for security, accuracy and privacy are particularly high in financial decision-making, especially during times of transition.

She shared how widows, for instance, are 70% more likely to change their financial adviser within a year of their spouse’s passing.This highlights the importance of advisers building relationships that go beyond transactional interactions – offering reassurance, guidance and stability instead.

Beyond personal financial management, women are also shaping the direction of capital by aligning their wealth with their values. Women are more likely than men to prioritise social and environmental outcomes, directing investments towards areas such as clean water, sustainable agriculture and climate issues. In fact, women are twice as likely to consider sustainability factors in their investment decisions, playing a key role in accelerating the growth of sustainable finance. As more women take on leadership roles, there is also growing momentum for stronger corporate governance, particularly around climate risk and social equity.

Yet, despite this influence, only 10% of investment funds address gender equality or social impact. Many women also distrust financial institutions that lack ESG commitments. This gap presents an opportunity for the industry to adapt – offering more sustainable investment options and prioritising relationship-driven, transparent services.

The wealth transfer is currently underway and reshaping wealth stewardship and capital allocation. Women’s growing involvement in financial ownership and decision-making is influencing the next generation, promoting sustainable finance principles, social equity, and trust. For the industry, this presents both a challenge and an opportunity: to better serve a growing client base that values transparency, purpose-driven investing, and meaningful relationships.

One theme emerged from the sustainable finance summit that was particularly powerful: the evolving nature of fiduciary duty.

What does it truly mean to act in the best interests of beneficiaries in today’s world?

Traditionally, fiduciary duty has been closely tied to maximising financial returns. The prevailing wisdom – rooted in classic economic theory – has long held that the primary objective of any business is to increase shareholder wealth.

As societal values shift and a significant generational wealth transfer looms, the validity of this definition is called into question.

Trustees are legally bound to manage trusts prudently and responsibly, typically with the aim of enhancing trust capital for the benefit of known and future potential beneficiaries. However, this may no longer be appropriate, as a growing number of trustees and wealth holders are beginning to adopt a more holistic ‘NextGen’ view – one that considers not just financial outcomes, but also long-term wellbeing, moral values, ethical beliefs and environmental concerns.

This shift raises various questions critical to the future of the sector.

• Should sustainable, responsible, and impact-led investing become standard practice for trustees?
• Should there be more focus on seeking long-term financial stability and enhancing resilience to periods of unpredictable market volatility?
• Are we making decisions that contribute to the well-being of current and future generations?