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Who we are
LuxFLAG (Luxembourg Finance Labelling Agency) is an independent and international non-profit association created in Luxembourg in July 2006 by seven private and public founding partners to support sustainable finance: ABBL, ADA, ALFI, the European Investment Bank, Luxembourg for Finance, the Luxembourg Stock Exchange and the Government of Luxembourg. In 2023, ACA has become the eighth Charter Member of LuxFLAG
The agency aims to promote the raising of capital for the Responsible Investment sector by awarding a recognizable label to eligible investment vehicles amongst others. The labels’ objective is to reassure investors that the applicant invests in the Responsible Investment sector.
Charter members
Milestones
Governance
HONORARY PRESIDENT
HRH the Grand Duchess Maria Teresa
Her Royal Highness the Grand Duchess Maria Teresa
Her Royal Highness the Grand Duchess Maria Teresa has been the Honorary President of LuxFLAG since 2006.
On 10 June 1997, Her Highness was made a Goodwill Ambassador for UNESCO, through which she aims to promote the education of young girls and women and fight against poverty through microcredits. Her commitment to social causes is reflected in her patronage of many charitable organizations in Luxembourg and abroad, and in her many trips to the world’s poorest regions.
LuxFLAG Board of Directors
In memory of Sachin Vankalas
Denise Voss
Chairwoman of LuxFLAG
Denise Voss is a Non-Executive Independent Director of flagship funds of major fund promoters.
Ms Voss has worked in the financial industry in Luxembourg since 1990, and was a Conducting Officer and member of the board of Franklin Templeton’s Luxembourg management company for over 25 years. Prior to joining Franklin Templeton, she worked for 10 years at Coopers & Lybrand in Boston, USA and Luxembourg. She holds a Massachusetts C.P.A. license and obtained a BA from Tufts University, as well as a MSc in accountancy from Bentley University.
Ms Voss is currently Chairwoman of LuxFLAG, an independent agency created in Luxembourg in 2006 to support the financing of sustainable development. She is also Chairwoman of the EFAMA Investor Education Platform, was Chairwoman of ALFI from 2015-2019, a member of the ALFI board of directors from 2007-2019 and is currently a member of the ALFI Strategic Board.
Cherryl Dentzer
Attachée - Ministry of the Environment, Climate and Biodiversity of Luxembourg
Cherryl holds a master’s degree in Biology (Université Louis Pasteur Strasbourg) and in Environmental Sciences (Université de Liège). She began her professional career in 2005 as an environmental consultant within a consulting-engineering company (ProSolut S.A.) after joining the steel industry (ArcelorMittal) in 2007. She started there as an environmental specialist and was appointed Head of the Environment Department for the Long Carbon Europe production sites of Luxembourg in 2010.
Cherryl joined the Ministry of the Environment, Climate and Biodiversity in 2013 (at that time Ministry of Sustainable Development and Infrastructure, afterwards Ministry of the Environment, Climate and Sustainable Development). She mainly acts as an advisor on international climate finance (ICF) and is responsible for tracking and monitoring Luxembourg’s ICF project and programme portfolio.
The Luxembourg ICF targets adaptation and mitigation activities in developing countries. Natural capital, biodiversity, forestry and land use, clean air and water resources, resource efficiency and waste management, community-based adaptation and resilience, and leveraging of sustainable and climate finance are some of the priority themes of Luxembourg’s ICF strategy.
Christina Pinto
Conseillère, Ministry of Finance
Ms Pinto works for the Ministry of Finance, with a professional experience of more than 20 years in the financial sector and prudential regulation. She holds a Master’s degree in economic science.
Jerry Grbic
CEO of the Luxembourg Bankers' Association (ABBL)
After studying finance in Brussels, Jerry Grbic started his career in the banking sector by joining Banque Internationale à Luxembourg in 1996. He stayed there for 12 years. He then joined Banque Degroof, where he developed the Luxembourg market. In 2012, he moved to Fortuna Banque, first as director and then as managing director.
Throughout his carrier, he acquired precious insights into a large area of banking services, holding positions in trading, credit risk management,
corporate banking, private banking and retail banking. His experience and general knowledge of the banking industry made him a prime candidate to take over the CEO position of the Association of Banks and Bankers, Luxembourg (ABBL), in April 2022.
Laetitia Hamon
Head of Sustainable Finance at the Luxembourg Stock Exchange
Laetitia Hamon has been Head of Sustainable Finance at the Luxembourg Stock Exchange (LuxSE) since July 2020. She is responsible for the exchange’s sustainable finance strategy and leads the expert team at LuxSE’s UN-awarded platform for sustainable securities, the Luxembourg Green Exchange (LGX), created back in 2016.
As a pioneer in sustainable finance, Laetitia started her career as an ESG analyst for an extra-financial rating agency back in 2008 in London.
Passionate about this topic from early days, Laetitia decided to dedicate her career to sustainable finance and has built in-depth expertise on the matter for the past 14 years.
After gaining experience from the investment fund industry at Thomson Reuters in London, she moved to Luxembourg to work with the ALFI – the Association of the Luxembourg Fund Industry, and LuxFLAG – the Luxembourg Finance Labelling Agency, where she actively promoted and developed Responsible Investment and Microfinance in Luxembourg and abroad.
Before joining LuxSE, Laetitia spent 8 years managing and then leading the Sustainable Finance audit and advisory practice at KPMG in Luxembourg. She served major European entities, asset managers, banks and corporates in integrating ESG in their policies, processes and disclosures.
More recently, Laetitia was named as one of the World Federation of Exchange (WFE) Women Leaders for 2022, which aims to shine the spotlight on some of the talented and gifted women in the capital markets’ industry globally.
Laetitia is a member of the High Level Expert Group (HLEG) on Scaling up Sustainable Finance for Low and Middle Income Countries from the European Commission.
Laetitia has a Master’s degree in International Management from the Institut Supérieur Européen de Gestion (ISEG) and a Master’s degree in Corporate Social Responsibility from Ecole Supérieure des Affaires, Paris XII.
Lynn Robbroeckx
Secretary General at Luxembourg for Finance (LFF)
Lynn Robbroeckx is Secretary General at Luxembourg for Finance (LFF), the agency for the development of the financial centre.
Prior to joining LFF, Lynn served as Head of Communication at the Luxembourg Space Agency (LSA). She began her career in Beijing and worked for the world’s leading steel and mining company, ArcelorMittal, in China and London.
She holds a Master Degree in Sinology from the Catholic University of Louvain in Belgium and studied at Chengkung University in Taiwan.
She is a board member at LuxFLAG and the Luxembourg Sustainable Finance Initiative (LSFI). She currently also serves as Secretary General of PROFIL, the Luxembourg Financial Industry Federation.
Marc Hengen
CEO at Luxembourg Insurance and Reinsurance Association (ACA)
Marc Hengen is Managing Director of ACA since March 2013. He holds a Master’s degree in Law from the Robert Schuman University of Strasbourg and was admitted to the Luxembourg Bar in 1991. After 18 years of professional experience in the Luxembourg insurance sector and after holding several management positions for different life and non-life insurance companies in Luxembourg, Marc joined the Executive Committee of ACA in 2010.
Marc is also a member of the Executive Committee of UEL (Union des Entreprises Luxembourgeoises), IE (Insurance Europe) as well as Secretary General of AGERE (Association des Gestionnaires d’Entreprises et de Réassurances).
Maria Löwenbrück
Member of the ALFI Board of Directors
Maria Löwenbrück has been working in the financial industry in Luxembourg for more than 20 years. Maria joined Union Investment in June 2000 and is currently managing director and member of the Board of Union Investment Luxembourg S.A., a Luxembourg-based German fund company, the fund company of the German cooperative banks, managing both UCITS and AIFs. She is also chairman of the board of UniInstitutional Infrastruktur SICAV-SIF and member of the board of different SICAV`s and investment vehicles. Furthermore she is member of the ALFI Board and member of the ALFI Regulatory Board.
Prior to that she worked at Freie Internationale Sparkasse and DekaBank Luxembourg.
Philippe-Fitzpatrick Onimus
Vice President of ADA, Avocat à la Cour
After serving as an officer in the French Army, Philippe ONIMUS gained a first experience in humanitarian aid during the Balkan wars in the nineties.
He moved to Luxembourg to start a carrier in the financial sector in a renowned financial institution Clearstream (aka CEDEL), before joining the Luxembourg Bar in 1996 as a lawyer.
Philippe ONIMUS is a member of the board of directors of ADA since 1999 and was president of the NGO for 7 years.
During his presidency the NGO tied strong links between the financial sector and development aid which contributed into making Luxembourg a financial center for funds specialised in micro finance and to become renowned for its expertise in inclusive finance.
Philippe ONIMUS represents Ada at the board of directors of Luxflag, the fund labeling agency.
Prof Dr Hakan Lucius
Head of Corporate Responsibility, European Investment Bank
Prof. Dr. Hakan Lucius is Head of Corporate Sustainability at the EIB, the European Union’s bank, covering the sustainability, non-financial reporting and audit, as well as stakeholder engagement dimensions of the institution. Dr Lucius possesses more than 25 years of sustainability experience. In his career he has structured multiple billions of euros of investments, through both, loans and equity, was quoted by the Financial Times and by Reuters, has led multinational teams and negotiated with governments, corporate and civil society organizations, alike. Academically, he received a Ph.D. with distinctions in industrial economics, an MBA from INSEAD, France, and an MSc in Engineering from Vienna Technical University, where he graduated as the youngest student of his faculty.
Mr Lucius is Professor of Finance in parallel to his professional career at the EIB, and specializes in sustainable corporate finance and strategy. He has developed masters classes, which he currently teaches at UCL in London, UK, the Frankfurt School of Finance in Germany, and the University of Luxembourg. He has lectured in Europe and the US and is an internationally acclaimed speaker, having spoken in conferences in 18 nations across four continents. He is passionate about sustainability and is quoted to state that “Sustainability is at the heart of long-term outperformance”. Prof Hakan Lucius was awarded Best Lecturer, Master of Development Finance, by Frankfurt School and by the by Welch MBA, Luxembourg and has published articles in multiple languages.
Prof. Dr. Lucius is member of the European Financial Reporting Advisory Group (EFRAG) on the European Sustainability Reporting Standards (ESRS); member of the European Commission’s Ecolabel expert group for sustainable finance; and member and former President of the European Investment Bank’s Pension Board.
René Lauer
Deputy Director of the Ministry of Foreign and European Affairs of Luxembourg
René Lauer joined the Ministry of Foreign and European Affairs of Luxembourg over 20 years ago. His main experience lies in the field of Development Cooperation, with a special focus on Latin America and Human Rights. He has served in Latin America and more recently at the Permanent Representation of Luxembourg to the United Nations.
Until shortly, René Lauer headed the multilateral section of the Directorate for Development Cooperation and Humanitarian Affairs. Among others, he represents Luxembourg at the Board of the Global Fund for the fight against AIDS, tuberculosis, and malaria and now, in his function as deputy Director for bilateral development cooperation, represents the Ministry at the boards of Lux-Development, ADA and LuxFLAG.
LuxFLAG CEO
Isabelle Delas
CEO of LuxFLAG
Isabelle Delas has joined LuxFLAG as CEO in May 2022.
She was formerly the Head of Luxembourg Branch of Finance in Motion GmbH, a leading impact asset manager, as well as a Member of the Board of Managers of FiM Asset Management S. à r. l.
Isabelle also worked in Rome (Italy) for the International Development Law Organization (IDLO), the intergovernmental organization (UN Observer) promoting the rule of law to advance peace and sustainable development globally, where she designed and developed technical assistance and capacity building programs with associated research on a wide range of topics, including environmental and social issues, good governance, gender and human rights, microfinance, procurement, in a number of developing and post-conflict countries.
Prior to joining IDLO, she was Assistant Professor at the University of Versailles-Saint-Quentin in Yvelines, France and Visiting Professor in the Master’s degree on “Management of Development Aid Projects in Africa” at the University of Paris XI, France.
She holds degrees at Post-Graduate and Master levels in Law from the University of Poitiers, France. She is also a volunteer member of the World Association for the Protection of Tangible and Intangible Cultural Heritage in Times of Armed Conflict (WATCH) and of the IUCN World Commission on Environmental Law.
Isabelle is currently a Member of the Boards of Directors of the Inclusive Finance Network Luxembourg (InFiNe.lu) and of the European Microfinance Platform (e-MFP) as well as a member of the ILA Sustainability Strategy Committee.
LuxFLAG Team
