LuxFLAG’s motivations to participate in IMS Luxembourg’s activities:
As LuxFLAG is an active player in the Luxembourgish sustainable landscape, we share commonalities in the objectives and goals we want to achieve as a company with the IMS. LuxFLAG actively supports the growth and financing of sustainable development by awarding a recognizable label to eligible investment products, and by engaging with the financial sector ecosystem in sharing best market practices relating to sustainable finance. As a fellow association in Luxembourg, synergies may be explored in terms of engagement with common members.
In addition, LuxFLAG's motivation to participate in IMS Luxembourg's activities would be a step towards diversity and inclusion in our goal to achieve a more sustainable society.
LuxFLAG’s CSR policy:
A CSR approach applies to all the activities necessary for the realization of our company's project. LuxFLAG adopts key responsibility principles (environmental, social and governance) in its strategy and operational processes and has been been awarded this year for the third time the ESR label. We implement our mission through three main pillar of activities: 1) Labels; 2) Associate Membership; and 3) Sustainability Knowledge Center.
LuxFLAG cooperates closely with its Charter Members in order to promote sustainable, environmental and social development: ABBL, ADA, ALFI, European Investment Bank, Luxembourg for Finance, Luxembourg Stock Exchange and the Luxembourg government, represented by the Ministry of Finance, the Ministry of Environment, Climate and Sustainable Development, and the Ministry of Foreign Affairs (Development Cooperation and Humanitarian Action).
LuxFLAG’s CSR actions and frameworks:
The principle of transparency is one of LuxFLAG's four core values (sustainability, transparency, accountability, independence), which reflect its commitment to good governance practices. LuxFLAG actively promotes the principle of transparency in its labelling activities. The awarding of labels in Microfinance, Environment, ESG, Climate Finance, Green Bonds and Sustainable Insurance enhance sustainability disclosure for investors and in the market, qualifying as an act of transparency in itself. Annual Reports and Conference Reports are published in our website, including key figures, market coverage, impacts and main activities and results.
For the social pillar, LuxFLAG aims to create a positive impact on society by supporting the development of socially responsible investments. LuxFLAG also actively supports microfinance with its microfinance label, thereby encouraging social entrepreneurship and financial inclusion.LuxFLAG considers its staff as its most valuable asset. Therefore, LuxFLAG cares about the well-being, the development and the work-life balance of all its employees. As an example, a “flex-time policy” has been introduced making working hours more flexible. Employees' skills are developed by offering training courses. Off-site events are planned to further strengthen the team spirit.
Concerning the environmental pillar, LuxFLAG commits to reducing its environmental footprint with focus on office activities and offering its staff the possibility to work from home and from the office. As an example, printed material is reduced and food products, office supplies and digital equipment is procured responsibly. The use of public transport is promoted within LuxFLAG’ s team and all staff are provided with a laptop for their professional use, which facilitates working remotely. In addition, LuxFLAG adopts a waste management system in its office and encourages the use of recycled materials.