ILA

While strides have been made in governance practices, significant disparities remain across regions and fund types, shows a fund governance survey conducted by PwC Luxembourg and the Luxembourg Institute of Directors, ILA. Especially Alternative Investment Funds have yet to make big steps in governance, it shows.

Boards of AIFMs, Alternative Investment Fund Managers, in Luxembourg are “heavily concerned” over potential greenwashing, a survey conducted by PWC Luxembourg on behalf of the Luxembourg corporate governance institute ILA said. 

Despite the looming EU deadline on ESG reporting, around a third of boards of UCITS funds and nearly half for alternative funds report had not reviewed the implications of the sustainable finance disclosure regulation (SFDR).

Is the European Commission planning to regulate European corporate governance practices? Last week, we highlighted the on-going sustainable corporate governance initiative, which is exploring options at the EU level. Karen Wauters of the Luxembourg Directors Assocation (ILA) believes its members must have a strategy in the face of this process.

Annual general meetings moving online is an example of how the coronavirus could change the way businesses function. The Institut Luxembourgeois des Administrateurs (ILA), the country’s director’s association, saw a 20% increase in participation after moving their AGM online.