Given its significant size and global importance as a financial hub, Luxembourg and its financial services sector recognise their responsibility and ability to\u00a0advance gender balance\u00a0and gender diversity<\/strong><\/span>. The Grand Duchy\u2019s financial sector employs over 55,400[1]<\/a>\u00a0individuals.\u00a0This figure represents almost 10.60% of the wage earners, making it one of the country\u2019s\u00a0largest employers. Given this, Luxembourg\u2019s financial center possesses the unique capacity to act as a prominent influencer and to set\u00a0important precedents on the pathway to gender\u00a0balance and gender diversity<\/strong><\/span>.<\/p>\n Numerous studies have shown that female leadership, at all levels of a company, boosts\u00a0financial performance, leads to greater employee satisfaction and is also instrumental in\u00a0cultivating a robust and diverse talent pool. While Luxembourg boasts the EU\u2019s smallest\u00a0overall gender pay gap[2]<\/a>, there is still substantial progress to be made in advancing\u00a0the\u00a0presence of women<\/strong><\/span>\u00a0in upper management and senior leadership roles.<\/p>\n [1]<\/a> https:\/\/statistiques.public.lu\/en\/publications\/series\/luxembourg-en-chiffres\/2026\/luxembourg-en-chiffres-2026.html<\/span><\/p>\n [2]<\/a> https:\/\/ec.europa.eu\/eurostat\/statistics-explained\/index.php?title=Gender_pay_gap_statistics#Gender_pay_gap_levels_vary_significantly_across_EU<\/span>[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][\/vc_column][\/vc_row][vc_row type=“in_container“ full_screen_row_position=“middle“ column_margin=“default“ column_direction=“default“ column_direction_tablet=“default“ column_direction_phone=“default“ bg_color=“#ffffff“ scene_position=“center“ text_color=“dark“ text_align=“left“ row_border_radius=“none“ row_border_radius_applies=“bg“ row_position_desktop=“default“ row_position_tablet=“inherit“ row_position_phone=“inherit“ overflow=“visible“ id=“what“ overlay_strength=“1″ gradient_direction=“left_to_right“ shape_divider_position=“bottom“ bg_image_animation=“none“ shape_type=““ gradient_type=“default“][vc_column column_padding=“no-extra-padding“ column_padding_tablet=“inherit“ column_padding_phone=“inherit“ column_padding_position=“all“ flex_gap_desktop=“10px“ column_element_direction_desktop=“default“ column_element_spacing=“default“ desktop_text_alignment=“default“ tablet_text_alignment=“default“ phone_text_alignment=“default“ background_color_opacity=“1″ background_hover_color_opacity=“1″ column_backdrop_filter=“none“ column_shadow=“none“ column_border_radius=“none“ column_link_target=“_self“ column_position=“default“ gradient_direction=“left_to_right“ overlay_strength=“0.3″ width=“1\/1″ tablet_width_inherit=“default“ animation_type=“default“ enable_animation=“true“ animation=“fade-in-from-bottom“ animation_easing=“default“ bg_image_animation=“none“ border_type=“simple“ column_border_width=“none“ column_border_style=“solid“][divider line_type=“No Line“ custom_height=“80″][split_line_heading line_reveal_by_space_text_effect=“default“ font_style=“h2″ text_color=“#223983″ content_alignment=“default“ mobile_content_alignment=“inherit“ animation_type=“line-reveal-by-space“ link_target=“_self“ text_content=“What is the Luxembourg Women in Finance Charter (WiF)?“ max_width=“800″][\/split_line_heading][vc_row_inner column_margin=“none“ column_direction=“default“ column_direction_tablet=“default“ column_direction_phone=“default“ text_align=“left“ row_position=“default“ row_position_tablet=“inherit“ row_position_phone=“inherit“ overflow=“visible“ pointer_events=“all“][vc_column_inner column_padding=“no-extra-padding“ column_padding_tablet=“inherit“ column_padding_phone=“inherit“ column_padding_position=“top-bottom“ flex_gap_desktop=“10px“ column_element_direction_desktop=“default“ column_element_spacing=“default“ desktop_text_alignment=“default“ tablet_text_alignment=“default“ phone_text_alignment=“default“ background_color_opacity=“1″ background_hover_color_opacity=“1″ column_backdrop_filter=“none“ column_shadow=“none“ column_border_radius=“none“ column_link_target=“_self“ overflow=“visible“ gradient_direction=“left_to_right“ overlay_strength=“0.3″ width=“1\/2″ tablet_width_inherit=“default“ animation_type=“default“ bg_image_animation=“none“ border_type=“simple“ column_border_width=“none“ column_border_style=“solid“][vc_column_text css=“.vc_custom_1791297346730{padding-right: 10% !important;}“ text_direction=“default“]\n The Luxembourg Women in Finance Charter (\u201cWiF Charter\u201d) aims at promoting gender\u00a0<\/b>balance and gender diversity <\/b><\/span>within the Luxembourg financial sector<\/b><\/span>. It constitutes a\u00a0commitment made by its Founders, signatory companies and representative entities\u00a0to foster<\/b><\/span> increased gender balance and gender diversity<\/b><\/span> across the Luxembourg financial\u00a0services landscape. This initiative serves as a foundational framework to advance women\u2019s\u00a0<\/b>involvement<\/b><\/span> across all tiers of financial services organisations and representative bodies in\u00a0Luxembourg.<\/p>\n The WiF Charter was introduced by the following founding members: The Luxembourg\u00a0Bankers\u2019 Association (ABBL), Association of the Luxembourg Fund Industry (ALFI), the\u00a0Association of Insurance and Reinsurance Companies (ACA), the Luxembourg Capital\u00a0Markets Association (LuxCMA), Luxembourg Finance Labelling Agency (LuxFLAG) and the\u00a0Luxembourg Stock Exchange (LuxSE), and is under the patronage of the\u00a0Luxembourg Ministry of Finance<\/b><\/span>.<\/p>\n[\/vc_column_text][\/vc_column_inner][vc_column_inner column_padding=“no-extra-padding“ column_padding_tablet=“inherit“ column_padding_phone=“inherit“ column_padding_position=“all“ flex_gap_desktop=“10px“ column_element_direction_desktop=“default“ column_element_spacing=“default“ desktop_text_alignment=“default“ tablet_text_alignment=“default“ phone_text_alignment=“default“ background_color_opacity=“1″ background_hover_color_opacity=“1″ column_backdrop_filter=“none“ column_shadow=“none“ column_border_radius=“none“ column_link_target=“_self“ overflow=“visible“ gradient_direction=“left_to_right“ overlay_strength=“0.3″ width=“1\/2″ tablet_width_inherit=“default“ animation_type=“default“ bg_image_animation=“none“ border_type=“simple“ column_border_width=“none“ column_border_style=“solid“][vc_column_text css=“.vc_custom_1791297483714{padding-right: 10% !important;}“ text_direction=“default“]\n The WiF Charter was formally launched in the presence of the first signatories during a Ring\u00a0the Bell Ceremony at LuxSE for International Women\u2019s Day on March 8, 2023.<\/p>\n The WiF Charter establishes a set of actions to be followed by the signatories. For instance,\u00a0each signatory commits to establish its own targets<\/b><\/span> to increase gender balance and gender diversity at the most senior level of their organisations.<\/p>\n The WiF Charter is open to a wide spectrum of financial institutions<\/b><\/span>, including banks, asset\u00a0management firms, and insurance companies, among others.<\/p>\n On a yearly basis, the WiF Charter founders and the Luxembourg Sustainable Finance Initiative (LSFI), Luxembourg\u2019s coordinating entity on sustainable finance and\u00a0the WiF Charter Founders\u2019 data partner, will publish an annual progress report <\/b><\/span>of the WiF\u00a0Charter signatories\u2019 progress. Each year in March, the WiF Charter Annual Progress Report\u00a0is published, offering a comprehensive overview of the representation of women in\u00a0Luxembourg\u2019s financial sector.<\/p>\n[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][divider line_type=“No Line“ custom_height=“80″][vc_row_inner column_margin=“default“ column_direction=“default“ column_direction_tablet=“default“ column_direction_phone=“default“ text_align=“left“ row_position=“default“ row_position_tablet=“inherit“ row_position_phone=“inherit“ overflow=“visible“ pointer_events=“all“ el_id=“whatdoesitmean“][vc_column_inner column_padding=“no-extra-padding“ column_padding_tablet=“inherit“ column_padding_phone=“inherit“ column_padding_position=“all“ flex_gap_desktop=“10px“ column_element_direction_desktop=“default“ column_element_spacing=“default“ desktop_text_alignment=“default“ tablet_text_alignment=“default“ phone_text_alignment=“default“ background_color_opacity=“1″ background_hover_color_opacity=“1″ column_backdrop_filter=“none“ column_shadow=“none“ column_border_radius=“none“ column_link_target=“_self“ overflow=“visible“ gradient_direction=“left_to_right“ overlay_strength=“0.3″ width=“1\/1″ tablet_width_inherit=“default“ animation_type=“default“ bg_image_animation=“none“ border_type=“simple“ column_border_width=“none“ column_border_style=“solid“][split_line_heading line_reveal_by_space_text_effect=“default“ font_style=“h2″ text_color=“#223983″ content_alignment=“default“ mobile_content_alignment=“inherit“ animation_type=“line-reveal-by-space“ link_target=“_self“ text_content=“What does it mean to become a signatory organisation?“ max_width=“800″][\/split_line_heading][divider line_type=“No Line“ custom_height=“30″][\/vc_column_inner][\/vc_row_inner][\/vc_column][\/vc_row][vc_row type=“in_container“ full_screen_row_position=“middle“ column_margin=“default“ column_direction=“default“ column_direction_tablet=“default“ column_direction_phone=“default“ bg_color=“#ffffff“ scene_position=“center“ bottom_padding=“0″ text_color=“dark“ text_align=“left“ row_border_radius=“none“ row_border_radius_applies=“bg“ row_position_desktop=“default“ row_position_tablet=“inherit“ row_position_phone=“inherit“ overflow=“visible“ overlay_strength=“1″ gradient_direction=“left_to_right“ shape_divider_position=“bottom“ bg_image_animation=“none“ shape_type=““ gradient_type=“default“][vc_column column_padding=“no-extra-padding“ column_padding_tablet=“inherit“ column_padding_phone=“inherit“ column_padding_position=“all“ flex_gap_desktop=“10px“ column_element_direction_desktop=“default“ column_element_spacing=“default“ desktop_text_alignment=“default“ tablet_text_alignment=“default“ phone_text_alignment=“default“ background_color_opacity=“1″ background_hover_color_opacity=“1″ column_backdrop_filter=“none“ column_shadow=“none“ column_border_radius=“none“ column_link_target=“_self“ column_position=“default“ gradient_direction=“left_to_right“ overlay_strength=“0.3″ width=“2\/3″ tablet_width_inherit=“default“ animation_type=“default“ enable_animation=“true“ animation=“fade-in-from-bottom“ animation_easing=“default“ bg_image_animation=“none“ border_type=“simple“ column_border_width=“none“ column_border_style=“solid“][vc_column_text css=““ text_direction=“default“]\n By formally endorsing the WiF Charter, financial sector organisations affirm\u00a0their commitment<\/b><\/span> to fostering gender balance and gender diversity<\/b><\/span> within the financial\u00a0centre and advocating for increased women\u2019s representation<\/b><\/span> at all levels.<\/p>\n In particular, signatory organisations undertake the following key actions referred to as the\u00a0WiF Charter\u2019s Pillars:<\/p>\n Following those actions, the signatories will report on a yearly basis on their advancement status with regard to the targets they have set.<\/p>\n By fulfilling these actions, signatory organisations collectively contribute<\/b><\/span> to advancing\u00a0gender balance and gender diversity in the Luxembourg financial sector, driving meaningful\u00a0<\/b>change<\/b><\/span>, and fostering transparency<\/b><\/span>.<\/p>\n[\/vc_column_text][divider line_type=“No Line“ custom_height=“15″][\/vc_column][vc_column column_padding=“no-extra-padding“ column_padding_tablet=“inherit“ column_padding_phone=“inherit“ column_padding_position=“all“ flex_gap_desktop=“10px“ column_element_direction_desktop=“default“ column_element_spacing=“default“ desktop_text_alignment=“default“ tablet_text_alignment=“default“ phone_text_alignment=“default“ background_color_opacity=“1″ background_hover_color_opacity=“1″ column_backdrop_filter=“none“ column_shadow=“none“ column_border_radius=“none“ column_link_target=“_self“ column_position=“default“ gradient_direction=“left_to_right“ overlay_strength=“0.3″ width=“1\/3″ tablet_width_inherit=“default“ animation_type=“default“ bg_image_animation=“none“ border_type=“simple“ column_border_width=“none“ column_border_style=“solid“][divider 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row_position_phone=“inherit“ overflow=“visible“ overlay_strength=“0.3″ gradient_direction=“left_to_right“ shape_divider_position=“bottom“ bg_image_animation=“none“][vc_column column_padding=“no-extra-padding“ column_padding_tablet=“inherit“ column_padding_phone=“inherit“ column_padding_position=“all“ flex_gap_desktop=“10px“ column_element_direction_desktop=“default“ column_element_spacing=“default“ desktop_text_alignment=“default“ tablet_text_alignment=“default“ phone_text_alignment=“default“ background_color_opacity=“1″ background_hover_color_opacity=“1″ column_backdrop_filter=“none“ column_shadow=“none“ column_border_radius=“none“ column_link_target=“_self“ column_position=“default“ gradient_direction=“left_to_right“ overlay_strength=“0.3″ width=“1\/1″ tablet_width_inherit=“default“ animation_type=“default“ bg_image_animation=“none“ border_type=“simple“ column_border_width=“none“ column_border_style=“solid“][divider line_type=“No Line“ custom_height=“30″][vc_row_inner 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row_border_radius=“none“ row_border_radius_applies=“bg“ row_position_desktop=“default“ row_position_tablet=“inherit“ row_position_phone=“inherit“ overflow=“visible“ id=“Q&A“ overlay_strength=“1″ gradient_direction=“left_to_right“ shape_divider_position=“bottom“ bg_image_animation=“none“ shape_type=““ gradient_type=“default“][vc_column column_padding=“no-extra-padding“ column_padding_tablet=“inherit“ column_padding_phone=“inherit“ column_padding_position=“all“ flex_gap_desktop=“10px“ column_element_direction_desktop=“default“ column_element_spacing=“default“ desktop_text_alignment=“default“ tablet_text_alignment=“default“ phone_text_alignment=“default“ background_color_opacity=“1″ background_hover_color_opacity=“1″ column_backdrop_filter=“none“ column_shadow=“none“ column_border_radius=“none“ column_link_target=“_self“ column_position=“default“ gradient_direction=“left_to_right“ overlay_strength=“0.3″ width=“1\/2″ tablet_width_inherit=“default“ animation_type=“default“ bg_image_animation=“none“ border_type=“simple“ column_border_width=“none“ column_border_style=“solid“][divider line_type=“No Line“ custom_height=“30″][split_line_heading line_reveal_by_space_text_effect=“default“ font_style=“h2″ text_color=“#003366″ content_alignment=“default“ mobile_content_alignment=“inherit“ animation_type=“line-reveal-by-space“ link_target=“_self“ text_content=“Q&A“][\/split_line_heading][toggles style=“default“ border_radius=“none“][toggle color=“Extra-Color-3″ heading_tag=“default“ heading_tag_functionality=“default“ title=“Who can become a signatory of the WiF Charter?“][vc_column_text css=““ text_direction=“default“]\n The WiF Charter applies to its Founders and is open to all regulated financial services\u00a0firms operating in Luxembourg, including but not limited to credit institutions,\u00a0investment funds, insurance companies, management companies, investment firms,\u00a0and Professionals of the Financial or the Insurance Sector (PSF<\/a> or PSA)<\/a>, as well as service providers whose operations directly support the Luxembourg financial sector,\u00a0provided that such service providers are members of, or otherwise duly affiliated with,\u00a0as applicable, at least one of the WiF Charter’s Founding Members (ABBL, ACA, ALFI,\u00a0LuxCMA, LuxFLAG or LuxSE).<\/p>\n[\/vc_column_text][vc_column_text][\/vc_column_text][\/toggle][toggle color=“Extra-Color-3″ heading_tag=“default“ heading_tag_functionality=“default“ title=“How do I become a signatory?“][vc_column_text css=““ text_direction=“default“]\n To become a signatory, the organisation has to fill out, sign, and submit the application\u00a0form to the LSFI team: <\/span>womeninfinancecharter@Isfi.lu<\/a><\/p>\n Submission of the form indicates CEO\/Senior Luxembourg Representative approval\u00a0from the joining party for signing up to the WiF Charter. After your submission, the\u00a0LSFI team will be in contact with you regarding the next steps.<\/p>\n In case of doubts, please contact the LSFI team (womeninfinancecharter@Isfi.lu<\/a>),<\/span> and\u00a0the LSFI team will provide you with all the necessary information and guidelines.<\/p>\n[\/vc_column_text][\/toggle][toggle color=“Extra-Color-3″ heading_tag=“default“ heading_tag_functionality=“default“ title=“Whom should I contact if I need assistance?“][vc_column_text]\n Any organisation that requires assistance can contact the LSFI at the following email address: womeninfinancecharter@lsfi.lu<\/a><\/span><\/strong><\/p>\n[\/vc_column_text][\/toggle][toggle color=“Extra-Color-3″ heading_tag=“default“ heading_tag_functionality=“default“ title=“What and when do I need to report?“][vc_column_text css=““ text_direction=“default“]\n WiF Charter signatories will receive each year a data collection request in September,\u00a0in which they will be asked to fill the questionnaire for the WiF Charter annual progress\u00a0report. The signatories will have until mid-November to return the completed\u00a0questionnaire. Exact timeline and dates for the annual progress report data collection\u00a0will be communicated annually, ahead of the data collection campaign.<\/p>\n Each WiF Charter signatory must provide metrics reflecting their current situation\u00a0based on their latest available data during the reporting year. The data can be from\u00a0any date between 1 January and 30 September of the reporting year. For example,\u00a0<\/i>data as of 31 March is acceptable, as it falls within this period.<\/i><\/p>\n As per the WiF Charter commitment, signatories should set a headline numerical\u00a0<\/b>target<\/b><\/span> (e.g. 30%) for female representation at a selected senior management level for\u00a0a defined year. This must include a target year and possibly a timeframe (1-3-5 years)\u00a0with optional ad interim target(s) to reach the final target that has been set.<\/p>\n[\/vc_column_text][\/toggle][toggle color=“Extra-Color-3″ heading_tag=“default“ heading_tag_functionality=“default“ title=“Are there any mandatory targets to set?“][vc_column_text css=““ text_direction=“default“]\n Yes, but each signatory is free to choose its own targets at its selected senior\u00a0management level. At least one of the following Targets is mandatory<\/span>: Board level, Executive Committee \/ C-suite level,or Senior Management level.<\/p>\n The following Targets are optional (not mandatory)<\/span>: Headline targets for middle\/junior\u00a0management and interim targets at all levels are optional.<\/p>\n Please note targets can be conservative, as you can also work on maintaining your\u00a0current situation.<\/p>\n During the annual data collection campaign, if you were already a signatory,\u00a0you can\u00a0either provide the target set last year or update it, if there have been any changes.<\/p>\n[\/vc_column_text][\/toggle][toggle color=“Extra-Color-3″ heading_tag=“default“ heading_tag_functionality=“default“ title=“How long does the endorsement last? (E.g., Do I need to formally renew my commitment every year, how do I keep my signatory status?)“][vc_column_text css=““ text_direction=“default“]\n The endorsement doesn’t have an expiration date, and signatories set their own\u00a0target(s) and timeframe by which they intend to achieve the target(s) in question.\u00a0However, signatories are asked to report annually on the metrics and progress made\u00a0towards achieving objectives and targets. Therefore, if a signatory organisation fails to\u00a0report once, it will lose its signatory status and will be removed from the Charter’s list.<\/p>\n[\/vc_column_text][\/toggle][toggle color=“Extra-Color-3″ heading_tag=“default“ heading_tag_functionality=“default“ title=“When can I become a signatory (e.g., is it open anytime during the year)?“][vc_column_text css=““ text_direction=“default“]\n An organisation can become a signatory at any time during the year.<\/p>\n New Charter signatories that join before the beginning of the data collection of each\u00a0year (by 31st<\/span> August) are included in that year\u2019s data collection and report.<\/p>\n Signatories joining between the beginning of the data collection and the annual report\u00a0publication date will be included only in the new joiners list of the Charter’s annual progress\u00a0report; however, they will start reporting the following year, unless they agree to complete the\u00a0questionnaire and set their targets immediately if they sign up after the data collection period\u00a0has begun.<\/p>\n[\/vc_column_text][\/toggle][toggle color=“Extra-Color-3″ heading_tag=“default“ heading_tag_functionality=“default“ title=“How will progress be reported and managed?“][vc_column_text css=““ text_direction=“default“]\n To facilitate the reporting process, the WiF Charter’s founders have designated the\u00a0Luxembourg Sustainable Finance Initiative (LSFI) as external coordinating entity and\u00a0data partner. The LSFI will also oversee coordination with the Steering Committee\u00a0composed of the Charter’s founding members (ABBL, ACA, ALFI, LuxCMA, LUXFLAG\u00a0and LuxSE) and will take charge of directing and managing the reporting process. This\u00a0streamlined approach guarantees a unified and centralized method for all signatory\u00a0organisations.<\/p>\n[\/vc_column_text][\/toggle][\/toggles][divider line_type=“No Line“ custom_height=“40″][\/vc_column][vc_column column_padding=“no-extra-padding“ column_padding_tablet=“inherit“ column_padding_phone=“inherit“ column_padding_position=“all“ flex_gap_desktop=“10px“ column_element_direction_desktop=“default“ column_element_spacing=“default“ desktop_text_alignment=“default“ tablet_text_alignment=“default“ phone_text_alignment=“default“ background_color_opacity=“1″ background_hover_color_opacity=“1″ column_backdrop_filter=“none“ column_shadow=“none“ column_border_radius=“none“ column_link_target=“_self“ column_position=“default“ gradient_direction=“left_to_right“ overlay_strength=“0.3″ width=“1\/2″ tablet_width_inherit=“default“ animation_type=“default“ bg_image_animation=“none“ border_type=“simple“ column_border_width=“none“ column_border_style=“solid“][divider line_type=“No Line“ custom_height=“100″][toggles style=“default“ border_radius=“none“][toggle color=“Extra-Color-3″ heading_tag=“default“ heading_tag_functionality=“default“ title=“Where can I find the annual progress report?“][vc_column_text css=““ text_direction=“default“]\n The LSFI discloses on a yearly basis a WiF Charter annual progress report by the end\u00a0of Q1, with the data referring to the previous year. The report is available on the LSFI\u00a0webpage here<\/span><\/a>.<\/p>\n[\/vc_column_text][\/toggle][toggle color=“Extra-Color-3″ heading_tag=“default“ heading_tag_functionality=“default“ title=“How will the data be disclosed? (E.g. Aggregated report, the targets of each signatory will be publicly available)“][vc_column_text css=““ text_direction=“default“]\n As stated in the Pledge and in the WiF Charter Guidelines, signatories organisations must\u00a0support transparency by publicly and annually reporting their progress against the set targets.\u00a0It will be considered good practice for signatories to include a Women in Finance section in\u00a0their Annual Report. The LSFI will publish an aggregated and anonymised annual report\u00a0covering signatories‘ progress against the collective targets. The report is available on the\u00a0LSFI webpage\u00a0here<\/a>.<\/p>\n[\/vc_column_text][\/toggle][toggle color=“Extra-Color-3″ heading_tag=“default“ heading_tag_functionality=“default“ title=“The seniority levels within my organisation don\u2019t exactly match the categories provided in the data collection campaign. How should the different seniority levels be reflected?“][vc_column_text css=““ text_direction=“default“]\n There are no specific criteria that define what should fall under, for example, C-level\u00a0executives versus Senior Managerial roles. Organisations can use different seniority\u00a0levels (board; executive committee; senior management; middle and junior\u00a0management; and other staff) and categorize according to what fits best. It is key to\u00a0avoid double counting.<\/p>\n While these levels may not map directly onto organisations\u2019 in-house hierarchical\u00a0structure, they provide a means of comparison across all signatories.<\/p>\n Relative to the definition of \u201csenior management\u201d, employees in middle management\u00a0and junior management roles were identified as one level below or two levels below\u00a0senior management level, respectively.<\/p>\n Relative to the definition of \u201cOther\u201d, were defined as employees with non-managerial\u00a0responsibilities.<\/p>\n[\/vc_column_text][\/toggle][toggle color=“Extra-Color-3″ heading_tag=“default“ heading_tag_functionality=“default“ title=“How do we count Board Members based outside of Luxembourg?“][vc_column_text css=““ text_direction=“default“]\n Board members based abroad should be accounted for and the targets should also\u00a0reflect that.<\/p>\n When it comes to the employee count, this must be only on the workforce working for\u00a0the Luxembourg-based branch office irrespective of the residency of the employee.<\/p>\n[\/vc_column_text][\/toggle][toggle color=“Extra-Color-3″ heading_tag=“default“ heading_tag_functionality=“default“ title=“Should employees working abroad for the Luxembourgish entity be counted?“][vc_column_text css=““ text_direction=“default“]\n No. The Luxembourg WiF Charter represents the Luxembourg financial sector and its\u00a0employees. To determine whether an employee should be counted in the WiF Charter\u00a0statistics, the key criterion is whether the employee is on the payroll of the Luxembourg\u00a0branch. If so, they can be included.<\/p>\n[\/vc_column_text][\/toggle][toggle color=“Extra-Color-3″ heading_tag=“default“ heading_tag_functionality=“default“ title=“How should signatories treat their subsidiaries in the framework of the WiF Charter?“][vc_column_text css=““ text_direction=“default“]\n Groups may choose to consolidate their subsidiaries in their target setting as long as\u00a0those subsidiaries are located in Luxembourg.<\/p>\n[\/vc_column_text][\/toggle][toggle color=“Extra-Color-3″ heading_tag=“default“ heading_tag_functionality=“default“ title=“How can The Diversity Charter L\u00ebtzebuerg and the WiF Charter coexist?“][vc_column_text css=““ text_direction=“default“]\n Although with distinct targets and actions, both Charters share the goal of enhancing\u00a0and embracing increased diversity and inclusion within organizations, at all levels.\u00a0While the Diversity Charter L\u00ebtzebuerg has a broader scope covering the EU non-discrimination criteria and beyond, across multiple sectors, the WiF Charter takes a\u00a0focused approach, concentrating its efforts on achieving gender balance and gender\u00a0diversity in Luxembourg’s financial sector.\u00a0For this reason, they are complementary.<\/p>\n[\/vc_column_text][\/toggle][toggle color=“Extra-Color-3″ heading_tag=“default“ heading_tag_functionality=“default“ title=“I am a Service Provider; how should I count my staff and set my targets?“][vc_column_text css=““ text_direction=“default“]\n Because your organisation may serve clients across multiple sectors, the following rule\u00a0applies to all staff metrics and targets for service providers (Senior Management,\u00a0Middle and Junior Management, and remaining staff): include only employees\u00a0dedicated 100% to servicing the Luxembourgish financial sector. Do not include staff\u00a0who split their time between financial and non-financial clients.<\/p>\n This rule does not apply to Board and ExCo\/C-suite members, which should reflect\u00a0your organization\u2019s overall governance body.<\/p>\n[\/vc_column_text][\/toggle][\/toggles][vc_row_inner column_margin=“default“ column_direction=“default“ column_direction_tablet=“default“ column_direction_phone=“default“ text_align=“left“ row_position=“default“ row_position_tablet=“inherit“ row_position_phone=“inherit“ overflow=“visible“ pointer_events=“all“][vc_column_inner column_padding=“no-extra-padding“ column_padding_tablet=“inherit“ column_padding_phone=“inherit“ column_padding_position=“all“ flex_gap_desktop=“10px“ column_element_direction_desktop=“default“ column_element_spacing=“default“ desktop_text_alignment=“default“ tablet_text_alignment=“default“ phone_text_alignment=“default“ background_color_opacity=“1″ background_hover_color_opacity=“1″ column_backdrop_filter=“none“ column_shadow=“none“ column_border_radius=“none“ column_link_target=“_self“ overflow=“visible“ gradient_direction=“left_to_right“ overlay_strength=“0.3″ width=“1\/1″ tablet_width_inherit=“default“ animation_type=“default“ bg_image_animation=“none“ border_type=“simple“ column_border_width=“none“ column_border_style=“solid“][\/vc_column_inner][\/vc_row_inner][\/vc_column][\/vc_row][vc_row type=“in_container“ full_screen_row_position=“middle“ column_margin=“default“ column_direction=“default“ column_direction_tablet=“default“ column_direction_phone=“default“ scene_position=“center“ text_color=“dark“ text_align=“left“ row_border_radius=“none“ row_border_radius_applies=“bg“ row_position_desktop=“default“ row_position_tablet=“inherit“ row_position_phone=“inherit“ overflow=“visible“ overlay_strength=“0.3″ gradient_direction=“left_to_right“ shape_divider_position=“bottom“ bg_image_animation=“none“][vc_column column_padding=“no-extra-padding“ column_padding_tablet=“inherit“ column_padding_phone=“inherit“ column_padding_position=“all“ flex_gap_desktop=“10px“ column_element_direction_desktop=“default“ column_element_spacing=“default“ desktop_text_alignment=“default“ tablet_text_alignment=“default“ phone_text_alignment=“default“ background_color_opacity=“1″ background_hover_color_opacity=“1″ column_backdrop_filter=“none“ column_shadow=“none“ column_border_radius=“none“ column_link_target=“_self“ column_position=“default“ gradient_direction=“left_to_right“ overlay_strength=“0.3″ width=“1\/1″ tablet_width_inherit=“default“ animation_type=“default“ bg_image_animation=“none“ border_type=“simple“ column_border_width=“none“ column_border_style=“solid“][divider line_type=“No Line“ custom_height=“70″][\/vc_column][\/vc_row][vc_row type=“full_width_background“ full_screen_row_position=“middle“ column_margin=“none“ equal_height=“yes“ content_placement=“middle“ column_direction=“default“ column_direction_tablet=“default“ column_direction_phone=“default“ scene_position=“center“ bottom_padding=“5%“ text_color=“dark“ text_align=“left“ row_border_radius=“none“ row_border_radius_applies=“bg“ row_position_desktop=“default“ row_position_tablet=“inherit“ row_position_phone=“inherit“ overflow=“visible“ id=“GFTF“ overlay_strength=“0.3″ gradient_direction=“left_to_right“ shape_divider_position=“bottom“ bg_image_animation=“none“ shape_type=““ gradient_type=“default“][vc_column column_padding=“padding-7-percent“ column_padding_tablet=“inherit“ column_padding_phone=“inherit“ column_padding_position=“all“ flex_gap_desktop=“10px“ column_element_direction_desktop=“default“ column_element_spacing=“default“ desktop_text_alignment=“default“ tablet_text_alignment=“default“ phone_text_alignment=“default“ background_color=“#f0f5f9″ background_color_opacity=“1″ background_hover_color_opacity=“1″ column_backdrop_filter=“none“ column_shadow=“none“ column_border_radius=“none“ column_link_target=“_self“ column_position=“default“ gradient_direction=“left_to_right“ overlay_strength=“0.3″ width=“7\/12″ tablet_width_inherit=“default“ animation_type=“default“ bg_image_animation=“none“ border_type=“simple“ column_border_width=“none“ column_border_style=“solid“][split_line_heading line_reveal_by_space_text_effect=“default“ font_style=“h2″ text_color=“#223983″ content_alignment=“default“ mobile_content_alignment=“inherit“ animation_type=“line-reveal-by-space“ link_target=“_self“ text_content=“The Gender Finance Task Force (GFTF)“ max_width=“500″][\/split_line_heading][vc_row_inner column_margin=“none“ column_direction=“default“ column_direction_tablet=“default“ column_direction_phone=“default“ bottom_padding=“10″ text_align=“left“ row_position=“default“ row_position_tablet=“inherit“ row_position_phone=“inherit“ overflow=“visible“ pointer_events=“all“][vc_column_inner column_padding=“no-extra-padding“ column_padding_tablet=“inherit“ column_padding_phone=“inherit“ column_padding_position=“all“ flex_gap_desktop=“10px“ column_element_direction_desktop=“default“ column_element_spacing=“default“ desktop_text_alignment=“default“ tablet_text_alignment=“default“ phone_text_alignment=“default“ background_color_opacity=“1″ background_hover_color_opacity=“1″ column_backdrop_filter=“none“ column_shadow=“none“ column_border_radius=“none“ column_link_target=“_self“ overflow=“visible“ gradient_direction=“left_to_right“ overlay_strength=“0.3″ width=“1\/1″ tablet_width_inherit=“default“ animation_type=“default“ bg_image_animation=“none“ border_type=“simple“ column_border_width=“none“ column_border_style=“solid“ offset=“vc_col-lg-11 vc_col-md-11 vc_col-xs-12″][\/vc_column_inner][\/vc_row_inner][vc_row_inner column_margin=“default“ column_direction=“default“ column_direction_tablet=“default“ column_direction_phone=“default“ text_align=“left“ row_position=“default“ row_position_tablet=“inherit“ row_position_phone=“inherit“ overflow=“visible“ pointer_events=“all“][vc_column_inner column_padding=“no-extra-padding“ column_padding_tablet=“inherit“ column_padding_phone=“inherit“ column_padding_position=“all“ flex_gap_desktop=“10px“ column_element_direction_desktop=“default“ column_element_spacing=“default“ desktop_text_alignment=“default“ tablet_text_alignment=“default“ phone_text_alignment=“default“ background_color_opacity=“1″ background_hover_color_opacity=“1″ column_backdrop_filter=“none“ column_shadow=“none“ column_border_radius=“none“ column_link_target=“_self“ overflow=“visible“ gradient_direction=“left_to_right“ overlay_strength=“0.3″ width=“1\/1″ tablet_width_inherit=“default“ animation_type=“default“ enable_animation=“true“ animation=“reveal-from-left“ animation_easing=“default“ bg_image_animation=“none“ border_type=“simple“ column_border_width=“none“ column_border_style=“solid“ offset=“vc_col-lg-11 vc_col-md-11 vc_col-xs-12″] Launched in 2023, the primary objective of the GFTF is to actively promote <\/strong>and <\/span>advance gender finance within the Luxembourg financial centre<\/strong><\/span>. This undertaking highlights the increasing significance of gender finance, both nationally and in the wider context of sustainable finance globally.<\/p>\n The GFTF\u2019s mission is to identify key opportunities<\/strong><\/span> and foster initiatives that drive progress in both „finance for women“ and „women in finance“<\/span><\/strong>. The GFTF works to develop sector-wide strategies, enabling actors in the Luxembourg financial centre to implement gender-focused financial solutions independently or in collaboration with public and private entities.<\/p>\n The GFTF is composed of a diverse group of high-level financial sector representatives and is chaired by the Ministry of Finance<\/span><\/strong>. It is supported by\u00a07 working groups, each chaired by senior management from the financial sector:<\/span><\/strong> Data on Women in Finance; Mentorship, Sponsorship and Career Development; Education; Events, Communication, and Talents; Definitions, Standards, and Labels; Innovation and Acceleration; Gender Intelligent Products and Services for Women.<\/span><\/p>\n The working group on Data on Women in Finance is chaired by the LSFI and is supplied with data from the WiF Charter.<\/p>\n <\/div>[nectar_btn size=“small“ open_new_tab=“true“ button_style=“regular“ button_color_2=“Accent-Color“ icon_family=“none“ text=“Access the Gender Finance Task Force“ url=“https:\/\/gender-finance.com“][\/vc_column_inner][\/vc_row_inner][\/vc_column][vc_column column_padding=“no-extra-padding“ column_padding_tablet=“inherit“ column_padding_phone=“inherit“ column_padding_position=“all“ flex_gap_desktop=“10px“ column_element_direction_desktop=“default“ column_element_spacing=“default“ 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column_border_style=“solid“ offset=“vc_col-lg-11 vc_col-md-11 vc_col-xs-12″] The Diversity Charter L\u00ebtzebuerg is a national commitment text proposed for signature to any organisation in Luxembourg wishing to commit to diversity promotion and management through concrete actions that go beyond legal. Seven privilege partners, the Ministry for Gender Equality and Diversity, Deutsche Bank, Caceis Investor Services, HSBC Luxembourg, Linklaters, PwC and Sodexo, support the Charter, alongside IMS Luxembourg, as the driving force. <\/span>With its foundation in 6 articles, the Charter steers organisations in the implementation of practices that promote cohesion and social equity through networks, workshops and conferences, involving all their employees and partners. More details on the Diversity Charter L\u00ebtzebuerg can be found here<\/a>.<\/p>\n
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