LuxFLAG appoints Sachin VANKALAS as General Manager
The Luxembourg Finance Labelling Agency (LuxFLAG) is pleased to announce that, Mr. Sachin Vankalas has been appointed as General Manager of the agency as of 1st June 2019. He will be taking over from Mr. Mario Mantrisi.
Mr. Thomas Seale, Chairman of LuxFLAG's Board of Directors, said: "We are grateful for Mario's leadership of our agency over the 17 months and are delighted at the appointment of Mr. Sachin Vankalas who has been leading the operations and sustainability processes at LuxFLAG since 2011 and will build on his deep knowledge and expertise in the sustainable investment market.”
“LuxFLAG has been thriving.” said Sachin Vankalas. “We want to build on these achievements, promote the opportunities that sustainability brings to the financial sector and showcase how impactful and game-changing social and environmentally-focused investments can be. As a torchbearer for transparency, high-quality processes and in-depth analyses through our labels will remain an utmost important driver for the organization to guarantee the necessary credibility towards investors.”
LuxFLAG has become an industry reference for labelling sustainable finance products over the past decade. Currently LuxFLAG operates five labels, with 117 labelled investment products worth 48.9 billion EUR.
LuxFLAG, the Luxembourg Finance Labelling Agency, is an independent and international, nonprofit organisation created in Luxembourg in July 2006 jointly by public and private partners. The Charter Members of LuxFLAG are the Luxembourg Government (Ministry of Finance, Ministry of the Environment, Climate and Sustainable Development, Ministry of Foreign and European Affairs), The Association of the Luxembourg Fund Industry (ALFI), The Luxembourg Bankers’ Association (ABBL), Appui au Développement Autonome (ADA), the European Investment Bank (EIB), Luxembourg for Finance (LFF) and the Luxembourg Stock Exchange (LSE). LuxFLAG aims to promote the raising of capital for the Sustainable Finance sector by awarding a recognisable label to eligible investment vehicles in Climate Finance, ESG (Environment, Microfinance, Social, and Governance), Environment, Microfinance, and Green bonds. The LuxFLAG Labels are recognized for high standards and rigorous assessment of applicant investment fund’s investment holdings, strategy and procedures with respect to Environment, Social and Governance (ESG) matters as well as an affirmation of their transparency to investors – which are key components of the eligibility criteria for the LuxFLAG labels.
As at 31st May 2019, 117 investment vehicles worth approx. 49 billion AuM were granted the use of LuxFLAG labels. Additionally, the agency maintains a strong network of 82 Associate Members, which are active in the Sustainable Finance sectors.
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