Following the success of the first Luxembourg Green Finance Day, held last March, PwC today once again hosted this international expert and executive conference in Luxembourg.
Organised together with the Luxembourg Bankers' Association (ABBL), the event began with opening speeches by Guy Hoffmann (Chairman of ABBL, Luxembourg), Valérie Arnold (Partner, PwC Luxembourg) and Roxane Haas (Partner, PwC Luxembourg) on how there can be no sustainable developments without Sustainable Finance. In the late afternoon, there was a session where Frank Krings (CEO of Deutsche Bank Luxembourg S.A./ Head of the ABBL Cube Cluster) and Michael Hauer (Director, PwC Luxembourg) presented the results of the ABBL Sustainable Finance Market Study: “Market opportunities for Impact Banking and related business models”.
Realising that the market is facing drastic changes in the field of sustainability, PwC Luxembourg established a team dedicated to Sustainable Finance. Together with the ABBL, the team conducted the ABBL Sustainable Finance Market Study, a survey that for the first time aims at investigating the status of Sustainable Finance in Luxembourg by questioning banking CEOs. Over 70% of the invitees took part in the questionnaire. The results of this survey will be revealed at the conference held today at the premises at PwC Luxembourg.
“Sustainable Finance seems to become a relevant question of future banking business models. Luxembourg could become one of the leading markets to develop front-running products, services and regulatory frameworks for sustainable banking”, commented Michael Hauer, Director Sustainable Finance at PwC Luxembourg.
Sustainable Finance is a movement with the potential to change the future of banking by creating a social, environmental and governance (ESG) impact. ESG-factors will have to be integrated in decisions on investment opportunities, refinancing sources or business partners and especially, in the creation of new products and services.
Among the other speakers at the event are Jennifer de Nijs (Advisor of Ministry of Finance, Luxembourg) and Dr. André Weidenhaupt (Director General at the Ministry of the Environment, Climate and Sustainable Development, Luxembourg).
