CastleOak Securities L.P., Davy and Norges Bank Investment Management join Sustainable Trading

London – November 15, 2023 – After a busy and productive year, Sustainable Trading, the non-profit organisation dedicated to transforming Environmental, Social and Governance practices in the financial markets trading industry, today welcomes three more firms into the membership network.

CastleOak Securities L.P., Davy and Norges Bank Investment Management, join a group of investment managers, banks, brokers, exchanges, trading platforms and service providers that are supporting the creation and implementation of cross-industry ESG best practices and bring the total number of members to 60.

Since launching in February 2022, Sustainable Trading’s workstreams have seen members develop an initial set of Best Practices, covering topics from trading technology infrastructure to trading floor diversity. Members have begun to implement the practices, and the accompanying measurement framework is being used to establish a baseline and to track the progress of their implementation efforts. In the coming months, members will explore further subjects such as the environmental and governance implications of Artificial Intelligence, storage of high-volume market data, and the intersection of market structure and ESG. The workstreams will also initiate research into diversity and wellbeing within the trading industry to provide greater context to the Best Practices.

Duncan Higgins, Founder and CEO, Sustainable Trading said: “We are delighted to welcome CastleOak Securities, Davy and Norges Bank Investment Management to our membership network. Each firm is already committed to furthering ESG objectives and goals – CastleOak as a diverse broker-dealer through its giving back philosophy, Davy via their specialist advisory and sustainable investments, and Norges Bank Investment Management with its focus on responsible and sustainable investment. As such, we welcome their experience and first-hand perspectives as we continue to develop our ESG best practices and upcoming programme of activities.”

Carlos Cabana, Managing Director, Head of Equity Sales & Trading, CastleOak Securities said: “We are delighted to join Sustainable Trading and add our unique voice to the network of firms working to promote ESG practices across equity trading in Europe and beyond. As a diverse broker-dealer, the “S” in ESG is part of our DNA, and we are proud to help our clients achieve their own ESG goals while providing best in class products and execution.”

Laura Fitzpatrick, Director/Equity Sales Trader, Davy said: “We are pleased to join the Sustainable Trading network, an established group committed to long-term sustainability within our industry. We look forward to collaborating with like-minded firms, learning alongside peers, in addition to providing our experience and knowledge to drive positive change.”

Emil Framnes, Global Head of Equity Trading and Transition, Norges Bank Investment Management said: “We are excited to join Sustainable Trading, aligning our commitment to responsible and long-term management with collective action. The organisation offers a platform to collaborate with peers, enhance transparency, and foster new initiatives that are vital for the sustainable evolution of the financial trading industry. It’s a step towards ensuring that the wealth we manage today extends into the future and benefits all stakeholders in the global market.”