Earlier this year, the NGOs Mouvement Ecologique and Greenpeace Luxembourg asked three banks in Luxembourg--Spuerkeess, Banque Internationale à Luxembourg (BIL) and BGL BNP Paribas--to omit gas and nuclear power from their green sustainability funds in the future. The state savings bank Spuerkeess agreed to explore gas- and nuclear-free investment options in from the two NGOs.

Speaking with Delano, Christophe Murroccu from Mouvement Ecologique, clarified: “We believe that a state bank should be in line with the government’s position, i.e., the total rejection of nuclear energy in all its forms, as well as a non-expansion of the national gas infrastructure. Nuclear and gas projects don’t have their place in real green investment products.”

“We welcome Spuerkeess’ response and are pleased that possible solutions are being explored on how to offer properly green financial products in the future. In our view, this is a win-win situation for the climate and the environment as well as for the bank's clients,” he added.

The appeal to the banks was driven by the decision of the European Commission to include gas and nuclear in the European taxonomy and thus label them as sustainable.

“We will continue to follow this issue and Spuerkeess has also told us that they will keep us informed about further developments.”

A representative of BIL confirmed that they have received and responded the joint letter from the NGOs.

Delano also asked BGL BNP Paribas for a comment.

Editor’s note: updated on 21 March, 17:00 to include BIL’s response.