Eligibility Criteria


Have a portfolio of investments corresponding to 75% of total assets in investments related, with a clear and direct link, to mitigation and/or adaptation of climate change or cross-cutting activities

ESG strategy

Describe its Climate Finance objectives (environmental and financial) and be transparent towards investors in its portfolio composition and documentation

Decision making

Comply with some legal and governance criteria


Seek a return on investment


Provide evidence that Environmental, Social and Governance (ESG) standards are incorporated in the investment process


Have a measurement mechanism in place and must provide a report on expected and realized results through indicators on an annual basis


Provide evidence that an exclusion policy is applied across 100% of its portfolio

Decision making

Be authorized by a EU Member State or be subject to supervision equivalent to that in EU Member States

Agreement Climate Finance

The application documents will be reviewed by LuxFLAG internally and the Eligibility Committees which give a recommendation to the Board of Directors taking the final decision.

LuxFLAG reserves the right to independently assess and evaluate the Applicant Investment Fund’s compliance with the above Eligibility Criteria and pertinence of the exclusion policy decided and applied by the fund.

A full description of the eligibility criteria is available in the Eligibility Criteria document.


LuxFLAG’s Applicant Fund Status is available for newly launched funds in their initial subscription phase, showcasing their commitment to responsible investing principles. The Applicant Fund must commit to apply for a LuxFLAG Fund Label once eligible. Read more on the Applicant Fund Status