Press release January 13th, 2021
Fondation de Luxembourg joins the UN PRI
The Principles for Responsible Investment (PRI) are widely recognized as the leading global framework for integrating positive environmental, social and governance practices in investment strategies.
Established in 2009, the Fondation de Luxembourg supports global projects that contribute to the well-being of people and communities. It currently represents 85 foundations under its aegis and guides them in their support of charitable projects in the sectors of Biodiversity and Climate Change, Health and Research, Poverty and Social Cohesion, Universal Education and Culture.
For Tonika Hirdman, Director General of the Fondation de Luxembourg, becoming a UN- PRI signatory was a natural step for the foundation, which already invests 80% of the assets of its sheltered foundations according to sustainable principles. She explains, “Our founders don’t want their assets to be invested in industries or companies whose activities are contrary to the charitable causes they are supporting. In applying a rigorous sustainable investment approach, we are able to ensure that the philanthropic values of the founders remain consistent with the investments made by their foundations.”
The Fondation de Luxembourg favors investing in companies that demonstrate appropriate environmental, social and governance standards, and furthermore, integrates the 17 Sustainable Development Goals (SDGs) into its daily activities and reporting. By adhering to the Principles for Responsible Investment and continuing to actively promote sustainable investment practices to its founders, the Fondation hopes to unlock an even greater potential towards achieving positive societal goals.
PRI CEO Fiona Reynolds said, “The PRI is very pleased to welcome Fondation de Luxembourg as a signatory. In joining the PRI, the Fondation is recognizing the importance of incorporating ESG factors into its investment and ownership decisions for its philanthropic
organization and the foundations managed under its umbrella structure. We look forward to working with the team on their commitment to sustainable investment.”
The Fondation de Luxembourg joins a growing list of foundations in the signatory base of the PRI, including the Nathan Cummings Foundation, the Rockefeller Brothers Fund and the Nobel Foundation in Sweden. Since 2006, over 3,000 signatories have committed to the UN- PRI, representing over US$103.4 trillion assets under management.
To read the press release click here.
Source: Fondation de Luxembourg
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