While welcoming the work done by Luxembourg financial services firms in recent years, the CEO of Luxembourg for Finance, Nicolas Mackel, emphasised the ongoing work that remains to be done in the fight against climate change. “Luxembourg was quick to recognise the essential role that international finance has to play in the long fight against climate change. Nonetheless, despite efforts already made, including the development of the Sustainable Finance Strategy and all initiatives that have stemmed from this, we still need to step up action. This includes refining the tools, optimising regulations and standardising the rules of green finance at international level to secure investor confidence and ensure that the transition is effective and has a clear purpose.”
Luxembourg’s drive to play a leading role within the development of green finance is bearing fruit and has been confirmed in the latest Global Green Finance Index (GGFI 12). Luxembourg emerged as the number one green financial centre in the European Union, with notable strength in areas such as the quality of green products and services available. The index also highlighted the attractiveness of Luxembourg’s business environment and the skills available in relation to green finance.
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