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Launch of Luxembourg Sustainable Finance Strategy

Published Tuesday March 16 2021

On 9 February 2021, the launch of Luxembourg Sustainable Finance strategy took place in Luxembourg. The strategy will act as the action plan, based on the Luxembourg Sustainable Finance Roadmap recommendations, to promote and support the financial centre’s transition toward sustainability. The launch took place during a virtual event in the presence of the Minister of Finance, Mr. Pierre Gramegna, the Minister for the Environment, Climate and Sustainable Development, Mrs. Carole Dieschbourg and the Deputy CEO of Luxembourg for Finance, Mr. Philipp Von Restorff.  

The Finance Minister, Mr. Gramegna highlighted the important role played by finance, stating that “without finance, you cannot achieve great tasks. Luxembourg is a trendsetter and an actor in this marathon we are running, and while we might be at the very beginning, Luxembourg is ready to participate and lead.” The Minister for the Environment, Climate and Sustainable Development, Mrs. Dieschbourg emphasised that “sustainability requires action by all – from civil society, the financial sector, government ministries, as well as from large intergovernmental agencies and that the strategy is a critical step that we take to reorient financial flows to achieve the goals set out at COP 21.” Also present at this occasion was the Deputy CEO of Luxembourg for Finance, Mr. Philipp von Restorff, who noted that the day of the launch “marked a milestone in the marathon that we all have to run” and that  “the launch underlines Luxembourg’s commitment towards building a sustainable and circular economy.”

It can be recalled that in January 2020, the Luxembourg Sustainable Finance Initiative (LSFI) had been launched by the Government of Luxembourg as a not for profit association, that designs and implements the Sustainable Finance Strategy for the Luxembourg financial centre. The LSFI is co-chaired by the Ministry of Finance and the Ministry of Environment, Climate and Sustainable Development and it is a result of the roadmap for sustainable finance that Luxembourg had published in collaboration with the United Nations Environment Programme (UNEP).

Read more: https://www.luxembourgforfinance.com/news/luxembourg-sustainable-finance-initiative-strategy-launch/

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