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The Luxembourg Women in Finance Charter (“WiF Charter”) aims at promoting gender diversity within the Luxembourg financial sector. It constitutes a commitment made by its Founders, signatory companies and representative entities to foster increased gender equality and inclusivity across the Luxembourg financial services landscape. This initiative serves as a foundational framework to advance women’s involvement across all tiers of financial service organizations and representative bodies in Luxembourg.

The WiF Charter was introduced by the following founding members: The Luxembourg Bankers’ Association (ABBL), Association of the Luxembourg Fund Industry (ALFI), the Association of Insurance and Reinsurance Companies (ACA), the Luxembourg Capital Markets Association (LuxCMA), Luxembourg Finance Labelling Agency (LuxFLAG) and the Luxembourg Stock Exchange (LuxSE), and is under the patronage of the Luxembourg Ministry of Finance.

The Charter was formally launched in the presence of the first signatories during a Ring the Bell Ceremony at LuxSE for International Women’s Day on March 8, 2023.

The Charter establishes a set of actions to be followed by the signatories. For instance, each signatory commits to establish its own voluntary targets to increase gender parity at the most senior level of their organisations.

The Charter is open to a wide spectrum of financial institutions, including banks, asset management firms, and insurance companies, among others.

On yearly basis, the Charter founders and the Luxembourg Sustainable Finance Initiative (LSFI) as the Charter’s external coordinating entity, will publish an annual progress report of the Charter’s signatories. The first annual progress report is foreseen to be published in March 2024.

The WiF Charter applies to its Founders and is open to all regulated financial services firms operating in Luxembourg, including but not limited to credit institutions, investment funds, insurance companies, management companies, investment firms, and Professionals of the Financial or the Insurance Sector 

By formally endorsing the WiF Charter, financial enterprises affirm their commitment to fostering gender balance and diversity within the financial centre and advocating for increased female representation at all levels.

In particular, signatory organizations undertake the following key actions referred to as the Charter’s Pillars:

• Promoting the progression of women at all levels, including at senior and board levels;
• Appointing an Accountable Executive (AE) who is responsible and accountable for gender diversity and inclusion;
• Setting internal targets and action plans which will be integrated into the firm’s goals;
• Supporting transparency by publicly reporting on progress against these targets annually on the firm’s website.

Following those actions, the signatories will report on a yearly basis on their advancement status with regard to the targets they have set the previous year.

By fulfilling these actions, signatory organizations collectively contribute to advancing gender balance and inclusivity in the Luxembourg financial sector, driving meaningful change, and fostering transparency.