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.
To print this article, all you need is to be registered on Mondaq.com.
Click to Login as an existing user or Register so you can print this article.
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”.
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.”
This May, ALFI Funds are hosting a roadshow in New York. KPMG are very happy to be sponsoring this event, which will feature Giuliano Bidoli, Partner in Tax, alongside Chrystelle Veeckmans, Partner in Audit. Giuliano will speak about the latest tax developments at the conference.
Following public consultation during 2016 and early 2017, legislation has been passed which will require Cayman Islands companies (but not partnerships) to maintain registers of beneficial ownership at their registered offices.
The Hong Kong market is presently faced with an increase in mainland private enterprises listing on the local exchange, resulting in shell planting and volatility in stock prices in the Growth Enterprise Market.
Choosing the right form of setup that can best suit a particular situation is important for a business owner. Here, we outline the major characteristics of the three forms of registration that foreign enterprises normally choose when registering a presence in Hong Kong.
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.
In this case, the Court made it very clear that any arrangement which detracts from the ability of regulators or law enforcement authorities to identify beneficial owners of companies...
Some comments from our readers… “The articles are extremely timely and highly applicable” “I often find critical information not available elsewhere” “As in-house counsel, Mondaq’s service is of great value”
Register for Access and our Free Biweekly Alert for
This service is completely free. Access 250,000 archived articles from 100+ countries and get a personalised email twice a week covering developments (and yes, our lawyers like to think you’ve read our Disclaimer).