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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