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Forum Views - March 2023

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Global

FORUM VIEWS - MARCH 2023

cross the world, a growing number of

governments are introducing net zero

Acommitments, in response to the alarming rate of

climate change and the potential impact it could have on

our societies in decades to come. India is no exception to

this rule and is looking to become a driver of change in

south Asia, having set its first net zero pledge at COP26 in

Glasgow at the end of 2021.

Ranking fourth in the list of the biggest carbon dioxide

emitters behind China, the US and the EU, the country is

aiming to reach carbon neutrality by 2070 and source half

of its energy from renewable resources by 2030.

Following on from its initial pledge, India submitted its

Long-Term Low Emission Development Strategy to the

United Nations Framework Convention on Climate

Change (UNFCCC) at COP27 last November, underlying

yet again the country’s ambition to spur a wave of change,

and join the growing list of countries that are taking action

against climate change.

Luxembourg - a longstanding economic ally

With diplomatic relations dating all the way back to 1947

and longstanding economic and commercial ties spanning

different sectors, Luxembourg and India have long enjoyed

a fruitful and close relationship marked by sustained

investment activities between the two countries.

The close ties between India and Luxembourg have also

translated into a growing number of Indian citizens

relocating to Luxembourg in recent years. In 2020, Indian

citizens represented the 5th biggest diaspora outside the

EU living and working in Luxembourg and 14th amongst the

foreign citizens living in the Grand Duchy, compared to 27th

in 2015.

Insights

LUXEMBOURG - PAVING THE WAY FOR

INDIA’S GREEN TRANSITION

Arnaud Delestienne

Director of International Capital

Markets, Member of the

Executive Committee

Luxembourg Stock Exchange

(LuxSE)

Ranked the most international financial centre in the world

and second biggest hub for investment funds in the world

according to New Financial, Luxembourg is also home to

the Luxembourg Stock Exchange (LuxSE), the world's

leading venue for the listing of international debt securities,

and the second stock exchange in the world to ever list a

Masala bond. Historically, LuxSE has been trusted by some

of the top Indian corporates and financial institutions for

listing their global depositary receipts (GDRs) to gain

exposure to international investors and today, LuxSE has

more than 35 active Indian GDRs listed and traded on its

markets.

More recently in November 2020, LuxSE entered into two

memoranda of understanding (MoUs) to further strengthen

the ties between India and Luxembourg and expand Indian

Strengthening ties between India and Luxembourg

Ranked the most international

financial centre in the world and

second biggest hub for investment

funds in the world according to

New Financial, Luxembourg is also

home to the Luxembourg Stock

Exchange (LuxSE), the world's

leading venue for the listing of

international debt securities, and

the second stock exchange in the

world to ever list a Masala bond.

(Luxembourg)

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