As part of the “Summer like no other” series, Delano and its sister publication Paperjam are looking at the people working in the grand duchy’s sustainable finance field. This week: Anne Contreras-Muller, of counsel, on the impact finance team at the law firm of Arendt & Medernach.
Jean-Michel Lalieu: What was the trigger that pushed you to work in the field of sustainable finance?
Anne Contreras-Muller: I had the opportunity very early in my career at Arendt to work on microfinance fund projects. I was fascinated by the players and the purpose of this sector: advanced financial skills used in the fight against poverty. It matched my need to find a more human meaning in my professional activities.
So much so that, for the past ten years, I have dedicated myself exclusively to the field of impact finance. This is finance whose intention is to generate a financial return, but also a positive change or an impact, measurable and measured, on the lives of vulnerable populations and/or on the environment.
What are you convinced about when it comes to sustainable finance?
I have the feeling, like many, that we are at an important watershed for finance. A real dynamic is in place towards the widespread taking into account of elements other than only financial return; pushed, by the way, in particular by European lawmakers. It’s a great thing. But the challenges are sizeable. Statements of intent will not be enough, only results will count. However, the experience gained in microfinance over the past 30 years shows that it is not so easy.
It is necessary to agree on the concepts, their purpose, the way to measure the social and environmental impact and to monitor the results, to gain the confidence of investors. The field of sustainable finance currently remains vague, very complex and not very transparent. I am convinced that it is on these aspects that the effort must be made in the near future. The credibility of financial players is at stake.
What is your preferred work theme, or your favourite “fight” to take on?
My sensitivity is oriented to the human. Inclusive finance projects, allowing unbanked populations to develop economic activities, are particularly close to my heart. Integrating these populations into an economic system, so as not to have to rely solely on philanthropy, seems essential to me. It’s an idea I believe in, anyway.
Public-private partnerships for sustainable finance are also one of my workhorses. And in this area, Luxembourg has put in place many initiatives in which the public and private sectors join forces. These are unique experiences.
Who is someone that inspires you every day?
There are obviously some big names that are inspiring. But, closer to home, I cannot help but have a very special thought for Corinne Molitor, who passed away a few days ago. Her commitment and the energy she put into the service of inclusive finance, and responsible finance more generally, were unwavering. We had worked together a lot over the last 10-15 years on Luxembourg’s many sustainable finance initiatives. Corinne will remain, to be sure, one of my sources of inspiration and perseverance to defend fairer finance, in line with today’s social and environmental issues.
What “sustainable” investment would you recommend?
Sustainable investments are flourishing. It is certainly not easy to make your choice as the offer is so diverse and often not very understandable. Rather than a specific investment, I would recommend, in an investment selection process, not to stop at words. Until commonly accepted definitions have been adopted, the references ESG, SRI, impact, sustainable finance in themselves do not mean much. We must go further, dig, question. If I were to restart my professional career today, I believe I would become a “responsible finance detective”! These professionals are starting to develop and I can only invite investors to contact them. I am thinking in particular of young initiatives like StarTalers, which specialises in responsible investment advice, aimed at women moreover!
Originally published in French by Paperjam and translated for Delano
