It is important to remain competitive on an international stage, says Nicolas Mackel, CEO of Luxembourg fir Finance in an interview with RTL.
With gas and nuclear having been declared sustainable energy sources in the EU taxonomy, these will be considered green investments in future.
Luxembourg is one of the main actors in invest green investing. The EU commission’s decision will have no direct impact, says Mackel.
The financial centre has to adapt to its customers’ needs. Sustainability is only one of the main challenges. Digitalisation is another, and it is important to remain competitive.
New talents are needed to drive innovation. Some of these can be found in Luxembourg, but increasingly they have to be sourced abroad.
Meanwhile, the Ukraine crisis is worrying international markets and the price of oil has been climbing for weeks. European states are using potential sanctions, among other things, to put pressure on the Russian leadership in order to avoid a military conflict.
Luxembourg does have links to Russia in the financial domain, but they are marginal, making up 0.2 to 1.5 percent, depending on sectors. Other European countries are much more affected economically.
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