Exchange in Focus: LuxSE first SSE Partner Exchange to win UN Global Climate Action Award

28 October, 2020

Luxembourg Green Exchange (LGX) has been recognised by the United Nations Climate Change office for its leadership in promoting green finance. LGX was awarded the prestigious prize in the category ‘Financing for Climate Friendly Investment’ at the United Nations Global Climate Action Awards 2020.

LGX was created by the Luxembourg Stock Exchange (LuxSE) in 2016 as a direct contribution to the global climate goals defined in the Paris Climate Agreement and the United Nations Sustainable Development Goals. As of 30 September 2020, LGX encompasses 830 sustainable securities totalling EUR 320 billion, issued by around 140 issuers from 30 countries.

“It is a great privilege to be recognised for our efforts and impact by the United Nations Climate Change initiative. This recognition strongly encourages us to continue to promote the sustainable finance agenda and help reorient capital flows towards green, social and sustainable investment projects. Given the current context, this is now more important than ever,” commented Julie Becker, Deputy CEO of LuxSE and Founder of LGX.

LGX received the UN Global Climate Action Award for its role in creating a solution to the challenge of climate change by facilitating sustainable investment. LGX offers issuers an opportunity to display their sustainable securities, while simultaneously granting investors access to complete information about sustainable investment products and transparent sustainability data. In this way, LGX has been facilitating sustainable investment since 2016 and helped accelerate the growth of sustainable finance.

LGX was one of only 13 projects worldwide recognised by the United Nations Climate Change this year. “I congratulate the winners of the 2020 UN Global Climate Action Awards, who provide tangible proof that climate action is under way around the world,” said UN Secretary-General António Guterres. “It is exciting to see these climate solutions, which reinforce my call for decisive leadership on climate change by governments, businesses and cities, and for a green recovery from the COVID-19 pandemic. Let us keep pressing ahead to build a more sustainable and equitable future for all."

Read more about the reasons why LGX was awarded the prestigious UN prize at the UN Climate Change website.

SSE and LuxSE

The Luxembourg Stock Exchange is an SSE Official Supporter and has actively participated in many SSE projects, including leading the SSE Advisory Group on Green Finance. This Advisory Group was co-chaired by Maurice Bauer and Julie Becker of the Luxembourg Stock Exchange and resulted in the SSE Guidance “How Stock Exchanges can grow Green Finance” which includes an Action Plan to Grow Green Finance.

“The SSE initiative is a perfect illustration of the power that lies in joining forces to reach ambitious goals. The numbers speak for themselves and the progress made is impressive. As a group, SSE’s partner exchanges have multiplied their sustainability actions and efforts and become key players in promoting policies and tools that put sustainability centre stage” said Julie Becker, Deputy CEO of LuxSE and Founder of LGX in the SSE’s 10 year anniversary report.