Luxembourg is developing a national strategy for sustainable finance. Working with the United Nations Environment Programme, the tiny European country recently published a new report called the Luxembourg Sustainable Finance Roadmap that aims to expand green and socially aware investing.
“Implementing the Paris Agreement and the UN 2030 Agenda requires fundamental changes in the global financial architecture,” said Luxembourgian Environment Minister Carole Dieschbourg in a press release. “The recommendations contained in this roadmap will contribute to rapidly shifting from high-carbon investments towards energy and resource efficient alternatives, based on renewable energy technologies.”
The report contains an inventory of existing sustainable finance initiatives in the country and other findings. The report examines sustainable financial products, training and education programs and Luxembourg’s role as a leading center of sustainable finance.
Also, the government launched the Luxembourg Sustainable Finance Initiative based on the report’s findings with the goal of developing a concrete plan for investing in the future.
“Luxembourg is setting the course for sustainable finance to fulfil its critical role in achieving sustainable development,” said UN Environmental Programme Head Eric Usher. “Sustainability is increasingly a performance driver, a trillion dollar investment opportunity that needs to be at the heart of the business strategies of banks, insurers and investors.”
Image credit: Luxembourg Skyline by Eoghan OLionnain via Flickr