An interview with Anne-Sophie Minaldo, Partner – Head of Regulatory Services and Corporate Citizenship, KPMG Luxembourg and Chairwoman of KPMG Luxembourg Foundation

Could you tell us more about your background? What are your current responsibilities within KPMG Luxembourg?
Today I am leading our corporate citizenship strategy but my interest to inclusive finance was born years ago when I still worked as an auditor. I was actually involved in auditing programmes of European Institutions, which at the time offered a guarantee facility to secure the financing of SMEs developing “green” and social-oriented projects in Europe. At the end of the 90s, the financing difficulties of SMEs were already a topical issue, and the European Investment Fund was one of the main institutions providing this service. Working on these projects raised my awareness of inclusive and responsible finance early on.

The CSR strategy of KPMG Luxembourg is based on three pillars: marketplace; inclusion and diversity; environment and society. The activities of the KPMG Foundation are mainly aligned with 3 SDGs:  SDG 3 Ensure healthy lives and promote well-being for all at all ages; SDG 4 Ensure inclusive and equitable quality education and promote lifelong learning opportunities for all; SDG 8 Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all.

Could you describe how KPMG Luxembourg is involved in inclusive and sustainable finance?
Financial education is one of the Foundation’s priorities. The KPMG Luxembourg Foundation supports the Life Project for Youth (LP4Y), among others, which aims to get young people aged between 17 and 25 years and living in developing countries off the street through entrepreneurship. It is important to also reflect on this issue from Luxembourg, and KPMG is supportive of the recent initiative consisting of organizing round tables.

Furthermore, KPMG Luxembourg works not only on auditing inclusive finance investment funds, but has also developed a methodology to assess the impact of these funds on the implementation of SDGs.

What is your key interest in inclusive finance?
I am particularly interested in the challenge of using inclusive finance and education to serve other SDGs. By educating people and helping them to access financial services, they can enjoy the means and tools to become independent. I am also interested in CSR developments in the banking sector. Following a 20-year career in this sector, and having experienced the 2008 crisis, I can confirm that it is essential for banks to focus on serving their clients and achieving their main goal, which is to support the economy, above all. Players in inclusive finance also have a part to play in reminding the banking sector of the underlying values of their profession.

For you, what are the biggest challenges for inclusive finance and how can Luxembourg and contribute to them?
Luxembourg is a cornerstone of the banking industry, of investment funds, and also of data protection and cybersecurity challenges. Accordingly, Luxembourg and have a part to play in bringing together these different players and working together to strengthen financial inclusion.

Copyright: KPMG Luxembourg