Through this initiative, LuxSE vows to support the transition to a sustainable future, by not just checking its own footprint but also by holding accountable the stakeholders and products it works with.
In an official statement, Julie Becker, CEO of LuxSE, explains: “We are working towards net zero emissions within our own operations and just as importantly, we commit to ensuring our products and services support a high ambition, engaging with all our clients and stakeholders on sustainability matters and supporting them in defining credible pathways to net zero greenhouse gas emissions.”
LuxSE is among six new signatories to the alliance: the London Stock Exchange, Singapore Exchange, Hong Kong Exchange, Mexican Stock Exchange and Johannesburg Stock Exchange also joined the cause, which already involved members like Bloomberg, Deloitte, KPMG and PwC.
All members of the NZFSPA--which is supported by the UN Sustainable Stock Exchanges--vow to report their progress on meeting the science-based targets in terms of emissions. In addition, all participants committed to make their services and products aligns with the goal of achieving a net zero economy by 2050.
LuxSE already familiar with green bonds
The alliance is part of the larger Glasgow Financial Alliance for Net Zero (GFANZ), launched in April 2021 by UN Special Envoy for Climate Action and Finance Mark Carney. The aim of the collective is to “bring together existing and new net-zero finance initiatives in one sector-wide coalition,” says the organisation’s official website, in the hopes of accelerating the transition to a low-carbon economy and society.
This aligns with LuxSE’s Luxembourg Green Exchange initiative launched in 2016. The LGX, which recently celebrated its fifth anniversary, was the first exchange in the world dedicated to sustainable securities and green bonds, and quickly turned LuxSE into a global reference on the subject.
The NZFSPA alliance is the only global alliance with a focus on net zero in the sector of service provides.