News - 13.12.2017

Financial centre action for sustainability accelerates

  • Sustainable Finance

Today, international financial centre leaders gathered in Paris to make progress on climate change and sustainable development, and outline practical ways to strengthen their collaboration. On the occasion of the One Planet Summit in Paris, LFF participated at a conference “Financial centres: mobilising capital to accelerate climate action”.

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Speaking along with representatives from London, Paris, Toronto, Shanghai and Casablanca, Nicolas Mackel, CEO of Luxembourg for Finance, presented Luxembourg’s international expertise in green finance. “Luxembourg is playing an important role in the EU’s efforts to develop an effective strategy on sustainable finance. The financial centre has developed an ecosystem and a proven track record that is uniquely suited to raising international capital for sustainable investment.”

As the European leader in responsible investment funds, primary centre for listing green bonds and home to the world’s first and only Green Exchange, Luxembourg is fully committed to assist companies, government agencies, and investors around the world to meet their sustainable development targets.

In this context, UN Environment (UNEP) also reported today that more than 20 financial centres are now active in green and sustainable finance and that 5 new members have joined the International Network of Financial Centres for Sustainability, launched in Casablanca in September 2017. As one of the founding members of the network, Luxembourg is convinced that it is necessary to embrace green finance in a more decisive way and welcomes the commitment of a growing number of international financial centres to join forces.  This initiative will accelerate strategic action and encourage financial centres to take common action on shared priorities to accelerate the expansion of green and sustainable finance.

UNEP report