The Luxembourg Government has launched several initiatives with the aim to promote innovative financial ideas to fight against climate change. The Grand Duchy already emerges as a Green Finance leader. Did you know that the first 'green' stock exchange was in the Grand Duchy?
Luxembourg Green Exchange
With 133 green bonds of an accumulated value of €63 billion, the new green section of the Luxembourg Stock Exchange is the world leader on the market with almost half of all listed green bonds. The Luxembourg Green Exchange was founded in 2016 and it is the first platform entirely dedicated to green, social and sustainable financial instruments. It is part of the government's strategy focusing on Luxembourg's development in respect of Green Finance.
Supporting climate finance
The Climate Finance Task Force is a think tank made up of public and private key players of Luxembourg. It was created to support the global action plan with a view to implementing the Paris agreement. It lies at the root of the national climate finance strategy developed in 2016. Only one year later, the Climate Finance Accelerator joined the initiatives that had already been put in place. It offered its support to investment fund managers looking to invest in projects related to the fight against climate change. Luxembourg devotes all its energy towards the establishment of an international green finance centre.
A collective undertaking
Leveraging investments for projects with a strong impact in the fight against climate change is crucial. In this context, the Luxembourgish government and the European Investment Bank have launched a collaborative project: a climate finance platform that has already released 30 million euros in favour of climate related projects!