Luxembourg’s place in sustainable finance: Private sector involvement as a key factor in fighting global warming

Agefi Luxembourg – Décembre 2019 :

The shift towards a sustainable financial marketplace

Several significant events marked a turning point in the debate towards global sustainable development. Among others, the Sustainable Development Program by 2030 of the United Nations and its 17 sustainability goals, the Paris Agreement on Climate Change and the United Nations Conference in Addis Ababa on the financing for development. These consultations enabled to raise awareness of the emergency to introduce radical changes in our institutional, financial and economic models. 

Luxembourg being one of the richest countries in the world and identified as an efficient financial center in Europe, could take advantage of its position to foster the development of sustainable finance and promote it in the global financial system. The country has taken a phased approach to address the potential reduction in competitiveness the mainstreaming of environmental considerations could generate in the short term, but which is able to create long-term ripple effects.