LuxFLAG confirms submission deadline, new label
LuxFLAG, the organisation providing ESG, Environment and Microfinance fund labels to promote responsible investments, has confirmed the next date for submission of applications to the labelling process will be 2 August.
Fund providers seeking to obtain a LuxFLAG lable must submit details of their funds, which are subject to review of the investment processes before they can be labelled. ESG funds are checked to ensure that they invest their assets according to ESG considerations through the full investment process; environmental funds are checked to ensure they invest primarily in environment-related sectors in a responsible manner; and microfinance funds are checked to ensure that they invest directly or indirectly in the microfinance sector.
Currently there are nine labelled ESG funds, 10 labelled Environment funds, and 28 labelled Microfinance funds.
LuxFLAG has further announced that it will be officially launching a Climate Finance label on 22 September, as well as releasing further information on a Green Bond label, which it is also seeking to launch. By way of measure, the World Bank, through its Treasury operations has issued over $9bn in Green bonds through over 120 transactions in 18 currencies as part of its efforts to tackle climate change.