Since its launch in 2022, Sustainable Trading has brought together a global community of forward-thinking firms across the trading landscape to turn ESG ambitions into practical, measurable progress. In just over three years, the initiative has not only influenced industry attitudes but has equipped member firms with the tools to embed sustainability, inclusion and responsible business into their trading operations. 

From DEI and employee well-being to environmental footprint and operational culture, Sustainable Trading provided structure and momentum to areas often discussed but rarely tackled at scale. Member firms joined to collaborate, share insights, define standards, benchmark their progress and raise the bar across the industry. 

Now, following a decision by the board and a unanimous member vote at an Extraordinary General Meeting on 17 July 2025, the organisation will begin a formal wind-down process. 

While the organisation itself will close, it leaves behind a legacy of shared learning and practical change, and the work will live on. The frameworks, tools and insights developed by Sustainable Trading will become publicly available to support continued progress across the industry. 

Read the story published by The TRADE: Sustainable Trading shutters amidst unfavourable ‘political headwinds’

Why now? 

The decision to close the organisation was not made lightly. It reflects a combination of external shifts and internal realities that, together, brought the long-term sustainability of the initiative into question. 

Over the past year, the environment for sustainability-focused organisations has become significantly more challenging. Mounting political and regulatory headwinds have deprioritised ESG across many financial institutions, making collective progress harder to sustain. 

In parallel, member numbers declined from a high in 2024, with further losses expected. This trend, combined with the departure of longstanding team members, reduced the organisation’s capacity to deliver at the level expected by members. Although options for scaling back were considered, the board concluded that such models would not deliver sufficient value or impact. 

Founder Duncan Higgins, following a period of medical leave, also confirmed he would not return to lead the organisation in the same capacity. 

Ultimately, the board chose to act proactively, recommending a managed wind-down that would allow the organisation to preserve its legacy and ensures members are appropriately recognised and reimbursed. 

What was achieved 

Sustainable Trading launched with a clear mission: to turn ESG principles into day-to-day practice across trading and financial markets – through collective action, industry engagement and practical tools that firms could use to measure and improve. 

Over three years, the initiative delivered significant impact across multiple fronts: 

• The Best Practices Framework: A living set of ESG-aligned guidelines tailored to trading operations, designed to help firms take credible action and foster transparency.
• The Member Progress Framework: A structured pathway to help firms track, improve and communicate their progress against ESG goals, providing clear benchmarks and recognition along the way. 
• A programme of working groups, workshops and events: From expert speaker series and technical working groups to expert panels and networking forums – bringing firms together across functions and geographies to collaborate and learn from each other. 
• Industry-first employee experience surveys: Shining a light on what matters most to those working in trading today, from flexibility and mental health to culture and career development. 
• Thought leadership and education: Through published articles, visual campaigns, interviews and panel appearances, Sustainable Trading helped shape the conversation around ESG in trading across a range of public platforms. 
• Volunteer and community initiatives: Including youth mentoring, education partnerships, volunteering initiatives and fundraising events that brought purpose-driven values to life beyond the desk. 
• Recognition and credibility: Including awards recognition across the UK and US, positioning the organisation as a trusted voice in the responsible finance space. 

These achievements helped embed sustainability in operational processes, spark internal change and raise industry expectations. For many members, Sustainable Trading provided a benchmark, a conversation starter and a roadmap for responsible business. 

What comes next 

The organisation will begin a formal wind-down process overseen by a professional liquidator to ensure financial and legal responsibilities are managed in full. Member contributions and reserves will be redistributed in accordance with Sustainable Trading’s Articles of Association. 

The current website will be maintained in a simplified format, providing continued access to curated best practices, frameworks and insights developed over the organisation’s lifetime. This archive will serve as a valuable resource for firms wishing to continue their ESG journeys – individually or in partnership with other initiatives. 

Statement from Duncan Higgins, CEO and Founder of Sustainable Trading:  

“Founding and leading Sustainable Trading has been an extraordinary experience – one of the most rewarding chapters of my career. We set out to build something different, something that challenged the status quo in trading, and I’m proud of how far we came in such a short time. 

I’ve had the privilege of working alongside a community of passionate, thoughtful firms and individuals who believed that progress was both possible and necessary. Together, we moved sustainability from principle to practice. 

Following my recent surgery, I’ve taken time to reassess how I commit my energy – and this decision is ultimately a mix of timing, reflection and realism. The challenges involved in running an initiative like this have grown, and the opportunities for creating positive impact have narrowed.  

It pains me that we couldn’t bring Sustainable Trading to a fully sustainable model, but we didn’t lack ambition, belief or commitment. I remain deeply invested in the principles that shaped this organisation, and I hope the foundations we’ve laid will continue to inspire future action. 

To every member, partner and supporter – thank you. Your involvement made all the difference. I hope the legacy we leave behind will continue to support positive change in the industry.”