LuxFLAG grows 30% and appoints Denise Voss as new Chairwoman

LuxFLAG grows 30% and appoints Denise Voss as new Chairwoman

During LuxFLAG’s Annual General Meeting, the non-profit association reported a 30% increase in the number of labels issued in 2018, and labelled fund assets under management increased by more than 50%. In addition, LuxFLAG saw its Associate Member network grow by almost 70% in one year – a clear statement of the current momentum of sustainable finance.

LuxFLAG announces the appointment of Denise Voss as new Chairwoman of the labelling agency active in sustainable finance. She takes up the chairmanship from Thomas Seale after the successful completion of his seven years leading the Board. Furthermore, Sachin Vankalas, former Director of Operations and Sustainability at LuxFLAG, has been appointed General Manager succeeding Mario Mantrisi.

As Chairwoman of LuxFLAG, Denise Voss will draw upon her extensive experience in the fund industry, having worked in leading finance positions in Luxembourg since 1990. “I am excited to take up this new role in chairing LuxFLAG.” said Denise Voss, former Chairman of ALFI, the Luxembourg fund association. “LuxFLAG has demonstrated tremendous achievements in the past years for which I would like to congratulate and thank the outgoing Chairman and everyone involved. The EU’s ambitious action plan and the high demand for transparency in sustainable investments vouch for LuxFLAG’s vital role in the industry. I am eager to drive forward the association’s central position in securing investor trust.”

Thomas Seale, the outgoing Chairman, said: “Since 2006, LuxFLAG has been shaping sustainable investments as a frontrunner in Luxembourg and beyond through a unique public-private partnership constellation. Having been involved with the association since its birth and seeing the crucial role it plays today, I can testify the truly remarkable progress made. I am sure Denise and Sachin and the whole team will be more than successful in continuing to shape the bright future of sustainable finance.”

Sachin Vankalas, new General Manager, who has been leading the operations and sustainability processes since 2011, 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 association to guarantee the necessary credibility towards investors.”

Sustainable finance is today a top priority for investors, asset managers and the financial industry at large. As the interest in and implementation of more sustainable practices are growing, transparency and quality of sustainable investment products remain a key requirement to safeguard sustainable development. As of 20 June 2019, LuxFLAG issued 136 labels to investment vehicles with 53.4 billion EUR AUM from five different jurisdictions (Luxembourg, Belgium, France, Germany and Ireland) and 83 Associate Members.

See Denise Voss biography and picture
See Sachin Vankalas biography and picture

See Thomas Seale picture

See LuxFLAG Chairmen since 2006 picture

LuxFLAG in numbers


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Note to editors:

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.

For further information, do not hesitate to consult our website at

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