Luxembourg’s leading financial sector associations, together with the supervisory authorities and the government, are about to launch a public campaign that seeks to elucidate the general public in the grand duchy on sustainable finance.
In particular, the campaign aims to make clear that sustainable investing is more than just environmental ‘green finance’ and that ESG investing also relates to social issues and the governance of companies.
The campaign, billed as a response to the need to raise public awareness of sustainable finance, will kick off on Wednesday and will run until 15 April. It is backed by the ABBL foundation for financial education, financial supervisor CSSF, fund and asset management association Alfi, and the ministry of consumer protection.
Private resources needed
The organisers said Europe’s commitment to making the ecological transition a success involves allocating significant financial resources, in which private sector financial funding also is required. “In addition to this public effort, it will also be necessary to mobilise private financial resources and direct them towards the financing of virtuous projects and companies to accompany them in their transformation,” they said in a statement.
While Luxembourg’s public in general recognise that there is a positive role for ESG finance, a 2022 Luxembourg study showed that they lack awareness of the topic. The study, conducted jointly by ABBL, CSSF and the Luxembourg Sustainable Finance Initiative LSFI, highlighted the need for additional educational efforts to the general public.
The campaign also is aligned with Luxembourg’s national money week, which runs from 20 to 24 March in parallel with the OECD-led Global Money Week. Billboards will be displayed in a variety of media across the country. A dedicated website - https://finance-durable.lu/fr/ – will be available in French, German and English.