LuxFLAG grants eeef “Environment Label”
The Luxembourg Finance Labelling Agency (LuxFLAG) has granted eeef the use of the LuxFLAG “Environment Label”, which is a unique tool that reassures investors that eeef primarily invests its assets in environment-related sectors (ie. >75%) in a responsible manner. The Label is awarded for the 12-month period starting on 01 July 2020. eeef is the only new fund to be awarded the “Environment Label”. The existing list with “Environment Label” funds include DNB Fund Renewable Energy, FDC Actions Monde, Global Energy Efficiency and Renewable Energy Fund, ThomasLloyd Sustainable Infrastructure Income Fund and Tridos Renewables Europe Fund. The Environment and other LuxFLAG Labels (eg. Microfinance Label, ESG Label, Climate Finance Label, Green Bond Label) have been awarded to 14 new funds bringing to the total of 204 investment products with EUR 102.2 billion assets under management to date.
LuxFLAG Labelled funds are highlighted on a number of fund selector platforms. Being a labelled fund enables eeef to enjoy enhanced market visibility (LuxFLAG labelled funds are domiciled in 7 countries and managed in 16). The Label also provides eeef with benchmarking possibilities with recognised peers, assuring investors that investment activities of eeef operate in a responsible manner. With the “Environment Label” eeef hopes to attract an additional flow of private capital investments into climate financing, thereby achieving the economic sustainability of cities and regions in the EU Member States.
LuxFLAG is an independent and international non-profit association created by seven private and public founding partners to support sustainable finance: the Luxembourg Government, ALFI, ABBL, ADA, the EIB, Luxembourg for Finance and the Luxembourg Stock Exchange. To promote sustainable investments in the financial industry, LuxFLAG awards an independent and transparent label to eligible investment vehicles in Microfinance, Environment, ESG, Climate Finance and Green Bonds. The objective is to reassure investors that the labelled investment fund operates in a responsible investment sector. Please visit: www.luxflag.org
The European Energy Efficiency Fund (eeef) S.A., SICAV-SIF is a “société d’investissement à capital variable” governed by Luxembourg law and was initiated by the European Commission in cooperation with the European Investment Bank. The initial capitalization provided by the European Commission was increased with contributions from the sponsors European Investment Bank, Cassa Depositi e Prestiti as well as the Investment manager DWS. The European Energy Efficiency Fund (eeef) is an innovative public-private partnership dedicated to mitigating climate change through energy efficiency measures and the use of renewable energy in the Member States of the European Union. It focuses on financing energy efficiency, small-scale renewable energy, and clean urban transport projects (at market rates), targeting municipal, local and regional authorities and public and private entities acting on behalf of those authorities. The European Energy Efficiency Fund (eeef) also aims to support the goals of the European Union and to promote a sustainable energy market and climate protection. Please visit: www.eeef.eu