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PRESENTATION

IGSF - International Group For Sustainable Finance, is a global organization for financial and non-financial standardization based in Luxembourg.

IGSF is a non-profit organization (NGO) whose activities aim to channel and organize international financial and non-financial standardization efforts. Through a structured approach alongside international experts, IGSF acts as an independent organization for standardizing and disseminating financial standards. With its ramifications, IGSF collects and centralizes international data and regulations related to financial and non-financial compliance for a better operational data utilization, processing, and standardization.

IGSF, as a standardization entity, primarily works on two aspects: the technical organization of standards in financial and non-financial governance and the dissemination of standards and best practices in general. The topics covered within IGSF include issues related to financial governance, fight against financial crime, and corporate social responsibility for companies or organizations of all types.

IGSF is positioned within the categories of certifiable and non-certifiable standards, including ISO, MSI, AML, ESG, and IFRS.

CONTEXT

The ongoing transformation of economic and financial systems has seen a significant intensification in recent years due to successive crises that have reshaped the global landscape, its codes, and its practices. These crises have been marked by their intensity and regularity.

Globalization plays a significant role in this context at all levels and affects all industries, regardless of their sectors. This phenomenon of globalization constitutes a strength in terms of its contributions to society, but it can also become a weakness due to the interconnectivity of global actors. At the same time, the process of globalization is accompanied by the construction of an increasing number of economic and financial actors whose continuous growth worldwide encourages a need for structuring.

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ISSUE
The proliferation of operators pushes markets to organize themselves to differentiate one from another, and interconnectivity compels regulators to organize themselves to limit excesses and abuses, with the aim of preventing systemic risks from spreading and causing contagion.
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SOLUTION

The establishment of benchmarks and differentiation indices for operators, along with control rules for better supervision and regulation, directly leads to improved risk management in identifying trusted operators. The International Organization for Standardization (ISO) took the lead in this transformation in the aftermath of World War II (1947), and other international organizations have lent their support, contributing to this collective effort. IGSF is among these organizations, with its primary mission being the structuring and dissemination of good financial and non-financial practices, contributing to providing reliable and independent indicators to the markets. Compliance with these indicators, therefore, addresses the dual issue of differentiation and control.

The IGSF is one of these organizations, with the primary aim of structuring and disseminating good financial and extra-financial practices, contributing to the provision of reliable and independent indicators to the markets. Compliance with these indicators therefore makes it possible to respond to the double problem of differentiation and control.

IGSF also carries the mission of bridging and strengthening relationships among stakeholders within an ecosystem, providing clear and concrete answers to the major concerns of economic actors regarding their ability to:

  • Support a collaboration choice,
  • Structure a management system.

STRUCTURE
Image Véronique De La Bachelerie
VÉRONIQUE DE LA BACHELERIE
IGSF President
held positions of high responsibility within the Société Générale Group for more than 30 years, notably as CEO of Société Générale Luxembourg, CEO of Société Générale Consulting, Group Financial Director of the retail banking activities and Group Accounting Director. As CEO of Société Générale Consulting, Madame De La Bachelerie implemented transformation programs for the Société Générale Group, including the adoption of an “ESG by Default” group approach. Madame De La Bachelerie has also been a member of the Boards of Directors of leading organizations, including the Luxembourg Stock Exchange. In terms of standardization, Véronique De La Bachelerie was France's representative to the Banking Federation of the European Union, as part of the working groups dedicated to IFRS standardization. Actively involved in subjects of general interest, she participated in numerous working groups set up by the Luxembourg government in favor of the transformation of society towards a sustainable economy. Madame De La Bachelerie was also involved in the creation and development of the Luxembourg House of Fintech alongside the Ministry of Finance. Madame De La Bachelerie received the high French honorary decoration, Knight of the Legion of Honor, strong for her commitment to inclusion and diversity.
RAMA CONT
President, Internal Financial Governance Committee
is head of the Financial Mathematics Chair at the University of Oxford. Rama Cont is also Director of Research at CNRS France (National Center for Scientific Research), Director of the “Systemic Resilience” Program at the Oxford Martin School, Director of the EPSRC (Engineering & Physical Sciences Research Council) at United Kingdom. In the past, he was also responsible for the chair of financial mathematics at Imperial College London and a reference teacher at other leading academic institutions such as Columbia University or Ecole Polytechnique in France. Dr Rama Cont is renowned for his advances in the fields of probability theory, stochastic analysis and financial mathematical modeling; he distinguished himself in particular by the creation of mathematical models recognized by his peers to assess systemic risks. For over twenty years, Professor Rama Cont has advised central banks and international regulatory bodies, such as the European Central Bank (ECB), the International Monetary Fund (IMF) and the Bank for International Settlements (BIS), on banking stress tests and systemic risk modeling. His work on network models, financial stability and clearing houses has influenced the directions of central banks and regulators. Dr Rama Cont is the author of numerous books and specialized publications. His work has been honored by several international recognitions including the Louis-Bachelier Prize of the Academy of Sciences in 2010 and the APEX Prize for Excellence in Interdisciplinary Research of the Royal Society in 2017 and he was elected “Fellow of the Society for Industrial And Applied Mathematics” (SIAM) in 2017.
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Image Isabelle Schoonwater
ISABELLE SCHOONWATER
President, Internal Anti-Money Laundering Committee
is a magistrate of the judicial order, of the French National School of Magistracy. Ms. Schoonwater was an investigating judge at the Financial Pole, then Advisor to the Paris Court of Appeal, in the chambers dedicated to the fight against organized crime and terrorism. Isabelle Schoonwater was seconded to the Ministry of Finance within the management of the French Financial Intelligence Unit (TRACFIN), where, as sole magistrate, she was in charge of the international department; then was recruited by the World Bank within the unit dedicated to the fight against money laundering and the financing of terrorism in Washington (Senior Financial Sector Specialist). Ms. Schoonwater rejoined the French judiciary in 2008, at the Paris Court of Appeal and has been, since 2017, a non-hierarchical magistrate, president of the so-called JIRS chamber (specialized interregional jurisdiction) at the Douai Court of Appeal, specializing in the treatment of complex organized crime, particularly financial for the Northern region. Alongside her activities within TRACFIN, Ms. Schoonwater carried out regular missions for the World Bank, the IMF (International Monetary Fund), the UNODC (United Nations Office on Drugs and Crime), and regional organizations of the FATF (Financial Action Task Force) to manage technical assistance programs concerning AML/CFT systems; She also participated in numerous country evaluations for the FATF. Ms Schoonwater was Chair of the FATF Typology Group when it was established. Strengthened by her commitment, Isabelle Schoonwater received the high French honorary decorations, Knight of the National Order of Merit and Knight of the Legion of Honor.
CHRISTIAN LEVESQUE
President, Internal Extra-Financial Governance Committee
is President and head of the Canadian ISO delegation and co-author of the ISO 37000 (Anti-corruption management systems) and ISO 37001 (Organizational governance) standards. Christian Levesque was, in the past, President of the Quebec Chamber of Commerce and Industry; and deputy in charge of the Treasury, Public Finance and Economic Development portfolios. In 2009, he became President of the ADQ then founded his government relations and public affairs and governance firm in 2012. Mr. Levesque acts as Forensic Leader in French-speaking Africa at Deloitte and is an international reference expert on the ISO 37000 and ISO 37001 standards. Mr. Levesque is regularly asked to intervene as a speaker on the international scene. He is also president of the Circle of Former Parliamentarians of the National Assembly of Quebec.
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Image Laurent Hugelin
LAURENT HUGELIN
President, Internal Anti-Corruption Committee
is a lawyer specializing in financial law, litigation and negotiations; Maître Hugelin is a member of the Paris Bar. He is a Doctor in European and international law, and a Teacher at the University of Paris 1 Panthéon-Sorbonne. Laurent Hugelin is competent in litigation and criminal disputes and his expertise focuses on companies, business groups and holding companies. Maître Hugelin was President of the Young Economic Chamber of Paris and a member of the board of the Intuition Créative association. Over the past 20 years, Maître Hugelin has been actively involved in raising awareness and disseminating good practices in governance. Maître Hugelin is the author of books, specialized publications and the originator of numerous research works.
KEY DEVELOPMENTS
2030 VISION
Véronique de la bachelerie
IGSF President

In a complex, ever-evolving world where challenges are constant, IGSF advocates compliance with international standards of good governance to adapt to changes and address the challenges of tomorrow. Thus, through its activities, IGSF aims for several strategic objectives:

  • Promote a culture of ethics, rigour, and transparency,
  • Facilitate the interoperability of economic actors through specific methodologies,
  • Contribute directly to the research and development of new decision support tools to address current and future issues in financial and non-financial compliance.
Image Veronique-De-La-Bachelerie