While falling two places in the overall ranking, the Grand Duchy’s position within the index shows the ongoing progress that the financial centre is making towards embedding sustainable finance within the ecosystem.
The latest GGFI report ranks Luxembourg 7th globally and 3rd within the EU. Despite performing well in terms of competitiveness relating to human capital, underscoring the depth of sustainable finance talent and expertise, the country slid two positions in the overall ranking. Nonetheless, over 70% of respondents also expect Luxembourg to improve its green finance offering in the coming two to three years
Commenting on the index, Nicolas Mackel, CEO of Luxembourg for Finance noted that “despite being one of the leading green financial centre, we must continue to work together on the goal of a true sustainable financial system globally. Indeed the inclusion of over eighty financial centres on the index, up from 47 in the three years ago shows how much progress sustainable finance has made. This is something that we should applaud as this progress is ultimately in everybody’s interest. However, while we are in a transition period it is clear that the onboarding of sustainable finance must speed up if we are to avoid the very dire consequences which the latest IPCC report warns of.”
The full report can be found here: https://bit.ly/3rZPMDL