climate reporting

A recent update of a Luxembourg sustainable finance report notes that two-thirds of the assets under management of Luxembourg UCITS – 2.8 trillion euros at the end of June 2023 – report under one of the two designations set out by European rules for green investing. However, mention of investment-related greenwashing is conspicuous by its relative absence in the report.

Luxembourg’s financial supervisors are preparing for tough scrutiny of the annual reports that firms will produce in the coming months. The 2022 reports are required to elaborate in detail on the impact of climate change, on the financial fallout from the Ukraine war and on the effects of inflation and rising interest rates.