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We have always cultivated a ‘humanist’ mindset, that of a business that is aware of its responsibilities, especially in the countries which are the springboard for our development. Taking a humanist approach means engaging and making a commitment.
A humanist culture
In terms of corporate responsibility, we focus the majority of our efforts in Luxembourg on responsible investment, the promotion of philanthropy, supporting local social and cultural organisations, and taking a human approach to managing our resources.
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Socially responsible investment
Socially Responsible Investment (SRI) refers to investment approaches that incorporate environmental, social and governance (ESG) criteria, over and above financial considerations. SRI promotes a sustainable economy by encouraging the inclusion of extra-financial criteria. In July 2017, the Bank’s asset management company, BLI - Banque de Luxembourg Investments S.A., became a signatory of the United Nations’ Principles for Responsible Investment (UN PRI), a blueprint for responsible investment based around six principles.
Policy for integrating ESG factors into management mandates
Promoting philanthropy
In Luxembourg, we promote philanthropy from awareness-raising through to concrete action:
- Two white papers were submitted to the Luxembourg government in 2008 and 2015 to create a real culture of engagement. In 2015 we were behind the launch of the www.philanthropie.lu platform connecting stakeholders (project initiators, volunteers, donors) working for social-interest causes.
- National events organised in 2012 and 2015 to show that philanthropy is a matter for everyone.
- A study launched in 2018 on shareholder foundations to contribute to raising awareness of the challenges and opportunities in connecting business and the common good.
- ‘What young people bring to philanthropy’ study initiated in 2018 and conducted by the Baillet Latour Chair in Social Investment and Philanthropy at the Centre for Social Economy, HEC Liège, in partnership with the King Baudouin Foundation and Wise Philosophy. The study aimed to better understand and highlight young people’s involvement in good causes and provide insights into philanthropy today and in the future.
- UP_Foundation ‘Young people get involved’ discovery evening held in Luxembourg in 2020, including presentation of the results of the ‘What young people bring to philanthropy’ study carried out by HEC Liège and the launch of Design for Change Luxembourg with the ‘I CAN’ philosophy of the international Design for Change (DfC) movement. The approach was introduced to Luxembourg by the UP_Foundation and encourages young people to get involved in solving problems that concern them directly, through four key touchpoints: Feel, Imagine, Do and Share.
Our long-term engagement in philanthropy was recognised by the Swiss Philanthropy Foundation in 2017.
Supporting our partners as a corporate citizen
Through the provision of financial resources, employee volunteers and professional skills, our long-term commitment via our partnerships contributes to extending Luxembourg’s influence.
Social action and health
- Since its creation in 2006, we have been supporting the Luxembourg branch of the European Friendship International platform. The charity provides aid to the most disadvantaged populations in the Brahmaputra river islands in Bangladesh.
- We are also a longstanding partner of the Luxembourg Red Cross. We work regularly together on fundraising efforts and we provide pro bono expertise and employee volunteers.
- We support the initiatives of the Fondation Cancer, especially its annual Relay for Life events supporting people with cancer.
Culture
- We have been by the side of the Philharmonie Luxembourg since it was founded and we supported its youth audience programme before becoming a partner in its concerts.
- We are one of the founding members of the EME Fondation, created by the Philharmonie, which is designed to bring music to people who do not generally have access to it.
- We support the Amis des Musées et d’Histoire Luxembourg association, which promotes art and history activities in Luxembourg-City.
- We are also a founding member and partner of the Mudam (Musée d’Art Moderne Grand-Duc Jean) which collects contemporary artworks and makes them accessible for as many people as possible.
Putting compliance at the heart of our approach
As a bank that is fully aware of its obligations, we aim to set an example in ensuring compliance with legal regulations, providing prudent advice, and upholding our clients’ reputations in addition to our own.
That is why compliance is an integral part of Banque de Luxembourg’s CSR philosophy.
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