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Luxembourg Women in Finance Charter
Best Practice
Promoter Information:
Abstract:
The Luxembourg Women in Finance Charter (WIF Charter)is a commitment by signatory firms and representative bodies to achieve greater gender balance and inclusivity across the Luxembourg financial services sector. Supported by the Luxembourg Ministry of Finance, this Charter underpins the industry’s ambition to see increased participation of women within financial services organisations and representative bodies in Luxembourg. Encouraging gender balance in the financial services sector is decisive in building a solid talent pool. This will lead to a greater diversity of thinking, experience and leadership styles in decision-making processes, for the economic benefit of the business, clients and the wider community. Recognising the sector’s diversity and firms’ different levels of maturity on gender balance, this Charter encourages each signatory to set its own measurable objectives to promote gender balance, including gender balance in Leadership and decision-making positions and therefore promoting the subdomain of Economic Power. The WiF Charter was launched in March 2023 by the Luxembourg Bankers’ Association (ABBL), the 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 endorsed by the Luxembourg Ministry of Finance. In its first year, 71 organisations employing 43% of Luxembourg’s financial sector employees (27,996 workers) signed the WiF Charter By signing the charter, companies commit to: 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 ABBL firm’s goals supporting transparency by publicly reporting on progress against these targets annually on ABBL firm’s website.
Keywords:
Gender, inclusion, transparency, financial services, talent
Dates:
March 1, 2023 - None
Source Specificity:
Initiative/Practice/Project/Programme/Case Studies
Website:
https://www.abbl.lu/en/professionals/page/diversity-equity-inclusion
Power Domains:
Economic
Methods Tools:
Gender Training, Competence development, Awareness-raising, Monitoring, Benchmarking
Country:
LU
City:
National
Implementation Scale:
national
Language:
English
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