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ESG and Responsible Investment Funds

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Welcome to the ESG and Responsible Investment Funds subsection of our website.

At CMS Luxembourg, we are dedicated to helping clients stay ahead of the curve in the fast-growing and evolving market for sustainable investment, and we are committed to promoting sustainable and responsible practices in the Luxembourg Funds industry. 

Our team of experts is dedicated to providing legal and strategic assistance to funds and their managers as they navigate the ever-evolving ESG landscape in the financial world by helping them comply with regulations, and supporting them in their efforts to offer products with a positive impact on the environment and society. 

We believe that ESG considerations are not only important for in the transition towards a sustainable economy, but is also essential for the long-term financial success of the asset management industry. By focusing on sustainability, funds can mitigate risks and increase their attractiveness to investors.

ESG is one of the most important drivers of change in the world today. The right establishment of sustainable products and the implementation of the adequate Responsible Investment strategy are essential from a reputational perspective, as well as being crucial for the continued success of the sustainable financial sector.

Julie Pelcé, ESG specialist

We have a team of Responsible Investment experts within our funds and investment management teams, who have extensive experience assisting clients with Responsible Investment and ESG related matters. Our team notably has significant experience in structuring and day to day management of microfinance, impact and ESG investment funds, whether initiated by public or private players, and investing either through debt, equity or mixt strategies and ranging from impact first funds to more balanced ESG or thematic funds.

Additionally, our team has also provided sustainability-related disclosures assistance to several funds managers, including AIFMs and UCITS management companies, investment advisors and fund manufacturers. We also provide legal assistance on a regular basis with regards to the interpretation of the sustainability disclosures regulations.

Our commitment to ESG goes beyond mere compliance. We recognize that sustainable practices are crucial for the long-term success of the financial sector and the well-being of our world. Through our expertise in responsible investment, we aim to create positive change and drive the transformation towards a more sustainable future.

Aurélien Hollard, ESG specialist

Involved at the industry level

Our team is at the forefront of the sustainable finance industry and is as such actively working with a number of actors active in the sector including professional associations like the Luxembourg Fund association (ALFI); the Banking association (ABBL) or the Luxembourg Private Equity Association (LPEA).

Connection with ESG consultants and data providers

We maintain close relationships with ESG consultants to gain a comprehensive understanding of our client’s ESG strategies and to have a holistic view on ESG matters, complementing our ESG regulatory expertise with financial and strategic perspectives. Furthermore, we also collaborate with ESG data providers to understand the challenges faced by our clients and be able to refer them to the most suitable and effective solutions available on the market. We hope you will find the information on this website helpful as you strive to incorporate ESG principles into your funds. 

Please don't hesitate to reach out to our team for further assistance or guidance.

Discover and download our dedicated brochures

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ESG expertise
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Impact Investing
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15/11/2023
ESG Hub
Discover the latest insights to help drive sustainable and responsible business decisions. Introducing our ESG Hub, a dedicated platform that showcases our firm's expertise and commitment to Environmental, Social, and Governance matters. Our ESG experts have curated a comprehensive collection of resources, including articles, publications, and webinar recordings, that reflect our deep understanding of eco-friendly and ethical business practices. If you have any specific questions or needs related to ESG, our Hub is the perfect place to start. You can browse through a variety of resources and learn about current trends and best practices in ESG. We are committed to providing valuable insights and knowledge to help you navigate the complex world of sustainable and re­spons­ible busi­ness practices. Join us on this transformative journey as we explore the evolving landscape of ESG.

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28/12/2023
ESMA publication on risks related to climate shocks and greenwashing controversies
On 19 December, the European Securities and Markets Authority (ESMA) published two “risk articles” regarding the impact of climate-related risks in the fund sector (1) and risks derived from greenwashing...
15/11/2023
ESG Hub
Discover the latest insights to help drive sustainable and responsible business decisions. Introducing our ESG Hub, a dedicated platform that showcases our firm's expertise and commitment to Environmental, Social, and Governance matters. Our ESG experts have curated a comprehensive collection of resources, including articles, publications, and webinar recordings, that reflect our deep understanding of eco-friendly and ethical business practices. If you have any specific questions or needs related to ESG, our Hub is the perfect place to start. You can browse through a variety of resources and learn about current trends and best practices in ESG. We are committed to providing valuable insights and knowledge to help you navigate the complex world of sustainable and re­spons­ible busi­ness practices. Join us on this transformative journey as we explore the evolving landscape of ESG.
19/10/2023
The CSSF reports on diversity through its data collection exercise
In a press release dated 10 October 2023, the Luxembourg Commission de Surveillance du Secteur Financier (the CSSF) presented the current state of diversity within the management bodies of less significant...
17/08/2023
CSSF Thematic Review on the implementation of sus­tain­ab­il­ity-re­lated provisions...
IntroductionAs sustainable finance gains momentum, regulators worldwide are placing greater emphasis on the integration of environmental, social, and governance (ESG) considerations into investment prac­tices. In...
20/07/2023
ESMA’s statement on the sustainability disclosures in prospectuses drawn...
On 11 July 2023, ESMA published a public statement on sus­tain­ab­il­ity-re­lated disclosures within prospectuses drawn up in line with the Prospectus Regulation1 (the “State­ment”). The Statement relates...
07/07/2023
Webinar Recording | Greenwashing in the Luxembourg financial sector
Following our last webinar on greenwashing in the financial sector (available here), we organised a second webinar focusing on the latest studies and insights at EU level. As the risk of greenwashing...
07/07/2023
CSSF’s extension of SFDR data collection to periodic reports
Following the collection of data related to the precontractual information on financial products under Regulation (EU) 2019/2088 of the European Parliament and of the Council of 27 November 2019 on sus­tain­ab­il­ity‐re­lated...
25/04/2023
CSSF supervisory priorities in sustainable finance
On 6 April 2023, the Commission de surveillance du secteur financier (the « CSSF ») published its supervisory priorities in sustainable finance, which are relevant for credit institutions, investment...
19/04/2023
Luxembourg: A world-leading pioneer in ESG and Sustainable Finance
In this publication, Julie Pelcé, our CMS lawyer and ESG ex­pert, high­lights Luxembourg's leadership in sustainable finance with the world's first green exchange and over EUR 2.2 trillion assets in ESG...
17/04/2023
Application of the EU Ecolabel to retail financial products: is the market...
Julie Pelcé, our CMS lawyer and ESG expert, had the pleasure of writing an article in Funds Europe Magazine. In this article, she discusses the potential benefits of the EU Ecolabel for financial products...
31/03/2023
Webinar Recording | Greenwashing in the Luxembourg financial sector
Check out the webinar replay to discover the risks of #gre­en­wash­ing in the financial sector. With the growth of ESG-focused investments, the risk of gre­en­wash­ing in­creases and threatens the soundness...
30/03/2023
Webinar | Greenwashing in the Luxembourg financial sector
With the growth of ESG-focused investments, the risk of greenwashing increases and threatens the soundness and trust of the sustainable finance market. Greenwashing practices are subject to a regulatory...