18th annual session of IFREFI organised by FSC from 04 to 06 September 2019

This three-day event was an opportunity for participants to address key issues pertaining to sustainable finance, to build a common vision and reinforce collaboration amongst member bodies of IFREFI. A consensus was reached amongst IFREFI members in favour of sustainable development around the following three principles, namely, the mobilisation of funds for projects integrating environmental, social and good governance criteria; the need to assess socially responsible investments; and thirdly the harmonisation of standards at the international level.

Mr. Harvesh Seegolam, the Chief Executive of the FSC, also emphasised this last principle in his closing remarks, "Harmonisation of standards relies on the cooperation of stakeholders and decision-makers of the financial services sector. Although our paths are different, we are all heading towards the same direction: that of a greener and more inclusive future. In this process, the role of capital markets is paramount. It is in this perspective that the FSC, as regulator, is working to create a framework favourable to the development of sustainable finance”, he stated.

Present from Paris for the event, Mr. Robert Ophèle, President of the Autorité des Marchés Financiers (AMF) France, the IFREFI Secretariat, highlighted that "Both the fight against global warming and the transition of our economic models call for the commitment of everyone. Francophone regulators, meeting within IFREFI and representing all regions of the globe, have a role to play in mobilising finance for sustainable development and ensuring investor confidence. The AMF, in its 2018-2022 strategic plan, has embarked on this path with market players. "

The IFREFI, of which Mauritius has been a member since 2016 through the FSC, is an international institution regrouping French-speaking financial regulators. The institute's mission is to promote training, coordination and technical cooperation among its members, as well as, the study of financial regulation matters. The IFREFI also promotes the consolidation of professional ties and exchanges of skills between French-speaking regulators, thus contributing to a greater harmonisation of financial regulation within the Francophone community.