Most Read Contributor in Luxembourg, February 2017
Last year the topic of sustainability continued to gain momentum
on headlines and in boardrooms: the United Nations set 17
Sustainable Development Goals, and the number of countries who have
ratified the Paris Agreement on climate change grew to 125. Not
surprisingly, in this context, governments and other entities have
been introducing sustainability reporting legislation.
In some countries, sustainability reporting legislation has come
from governments (including France, Indonesia, and South Africa)
and in others by stock exchanges (e.g. in Brazil, Malaysia, and
Singapore). Requirements may cover a broad range of social,
environmental, and governance areas (as in Denmark, France, and
South Africa), or have a specific target such as GHG emissions (the
UK), conflict minerals (the US), or social responsibility
As of 1 January 2017, the European Directive on non-financial
and diversity information is applicable in Luxembourg. As a result,
a number of companies now fall under its requirements, and will
have to submit information about:
environmental matters (efficient use of resources such as
energy and raw materials, waste, greenhouse gas emissions,
social and employee aspects (consumer protection, gender
equality, working conditions, health and safety, commitment to
human rights, anti-corruption, and bribery issues (ESG
criteria, business ethics, etc.)
Not a fad
For businesses of all sizes in Luxembourg, even those beyond the
scope of the Directive, it is more than time to jump on the
sustainability reporting bandwagon! Not because it's required,
necessarily, but because at some point it will become more of an
opportunity than a constraint. Greater focus and accountability
over non-financial issues can create value if integrated in
business strategies, or result in operational risks if not
addressed correctly. Indeed,
customer opinion is more important than ever in a world of
upvoting, liking, and sharing—and in a world where, to a
brand, ethics and sustainability are as important as product and
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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ICT Spring is a global technology conference that welcomes various international professionals from the technology space. It is a two-day yearly event which is held in Luxembourg City, “at the heart of Europe, and offers the participants a unique opportunity to deepen their digital knowledge, capture the value of the fast-growing FinTech industry, and explore the impact of space technologies on terrestrial businesses, through exhibitions and demonstrations of the latest tech trends and innovations. ICT Spring is also the perfect place to network with peers and future business partners”.
Confidentiality of corporate documents and information is one of
the key attractions of incorporating a company in the BVI. A
company search of the BVI Registrar of Corporate Affairs will only
disclose certain information and documents.
A trust is a legal relationship created when a person (the settlor) places assets under the control of another person (the trustee) for the benefit of specified persons (the beneficiaries) or for specified purposes.
The European Market Abuse Regulation ("MAR"), which replaced and extended the existing market abuse regime, prohibits insider dealing, market manipulation and unlawful disclosure of inside information...
This is a very straight-forward procedure and is generally used for companies that have terminated all activities and do not intend to carry on any business in the future.
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