On Monday 10 October 2022, the Luxembourg Union of Social and Solidarity Economy (Union Luxembourgeoise de l’Économie Sociale et Solidaire - ULESS), in collaboration with the Ministry of Labour, Employment and the Social and Solidarity Economy (Ministère du Travail, de l’Emploi et de l’Economie sociale et solidaire - MTEESS) announced the launch of the "IMPACT LUXEMBOURG – Society for Societal Impact” label.
The label was created to give more visibility to Societal Impact Companies (Sociétés d’Impact Sociétal - SIS) and to support them in promoting their activities in favour of a Social and Solidarity Economy (Économie Sociale et Solidaire - ESS).
According to ULESS, the SIS is an unique and unprecedented legal status in Europe, intended for both existing companies and budding social entrepreneurs who wish to launch socially innovative activities, and in particular create a commercial company with a view to carry out an economic activity while generating a societal impact. The profits of the company must be reinvested in the company for the maintenance of the activity and this in order to maximise the societal impact.
The entry into force of the law of 12 December 2016 on the creation of societal impact companies has largely contributed, not only to the national recognition of the social and solidarity economy but also to creating the legal bases necessary for the development of the social entrepreneurship.
Social entrepreneurs, through the creation of SIS, contribute to achieving up to the seventeen sustainable development goals (SDGs) promoted by the United Nations.
Any company with ministerial approval as a SIS can contact ULESS to obtain graphic files and guidelines for the use of the label. The management of the new label has been entrusted to ULESS.
This label may be used in the communication of all companies approved as SIS in Luxembourg, in order to support and enhance their activities in favour of a ESS. The creation of the Label, like the launch of the social and solidarity economy portal, reflects the government's desire to promote the social and solidarity economy as part of Luxembourg's economic diversification policy.
The official launch of the "IMPACT LUXEMBOURG – Societal Impact Society" label and the launch of a website dedicated to the label (www.impactluxembourg.lu) will be followed by a series of communication initiatives aimed at raising awareness among general public to the challenges of social entrepreneurship and to increase the visibility of SIS in the face of growing demand for products and services with societal impact.
