“We are very proud and grateful that the Luxembourg government continues to put its trust in Luxflag, ” LuxFlag general manager Mario Mantrisi said of the convention
( Photo: Luc Deflorenne/archives )
An agreement was signed on 24 January between the Luxembourg government and Luxflag, the international, independent finance labelling agency.
The convention lays out the commitment to annually subsidise LuxFlag for a three-year period, until at least 31 December 2021.
“We are very proud and grateful that the Luxembourg government continues to put its trust in Luxflag, materialised by this new convention,” said LuxFlag general manager Mario Mantrisi.
Signing the convention were finance minister Pierre Gramegna, minister for the environment, climate and sustainable development, Carole Dieschbourg; and Paulette Lenert, minister for development cooperation and humanitarian affairs.
Gramegna called LuxFlag a “European pioneer in the labelling domain of sustainable finance”.
Dieschbourg highlighted the importance of sustainable finance in “help[ing] Luxembourg fulfil its role with regards to sustainable development through the implementation of the Paris Agreement and 2030 Agenda”.
Thomas Seale, LuxFlag chairman, said the non-profit association is “expecting a strong trend for the sustainable finance market,” adding that the convention would allow it to “step up its European position as a key labelling agency.”