, the Luxembourg Women in Finance Charter aims to improve gender diversity in the grand duchy’s financial centre. By December 2024, 78 organisations had signed the charter (+7 from 2023), said the , published by the Luxembourg Sustainable Finance Initiative on 7 March 2025 ahead of International Women’s Day.

“Progress begins with measurement,” said Luxembourg Sustainable Finance Initiative CEO . “To achieve gender balance, we must understand where we stand, recognise the barriers, and explore how organisations are working to overcome these challenges and what is needed to support them. The WIF Charter is a key initiative to foster gender balance in Luxembourg and therefore sustainable finance. It not only provides an invaluable picture of where we stand but also supports signatories on their journey by offering insights and workshops aiming to drive meaningful change.”

Banks represent the largest group of charter signatories, with 34 organisations, said the report, followed by insurance and reinsurance firms, which count 17 signatories. Super mancos and alternative investment fund managers (AIFMS) accounted for 10 signatories; specialised professionals of the financial sector accounted for eight signatories; industry associations made up five signatories; three investment firms were signatories; and one payment institution was a signatory of the charter. “Signatory organisations employed 29,860 employees in 2024, up from 27,995 in 2023, representing approximately 49% of the Luxembourg financial sector’s employees,” said the LSFI’s report.

Women make up 47.2% of total employees, which is more or less the same as in 2023. Progress was seen, however, in terms of female representation on boards: women now make up 29.8% of board members, 29.9% of executive committee (exco)/C-suite, and 30.9% of senior management positions.

The Luxembourg WIF Charter’s main goal is to boost gender balance and inclusion within financial institutions in the grand duchy, with a special focus on increasing representation amongst the three most senior positions (board of directors, exco/C-Suite and senior management), explains the report. Signatories commit to implement a set of mandatory and voluntary actions, which are grouped into four pillars: promoting women’s advancement; appointing an senior executive accountable for gender diversity and inclusion; setting internal targets and action plans; and supporting transparency. Actions to promote gender balance can include fostering an inclusive corporate culture, implementing flexible working conditions, addressing the gender pay gap, diversifying recruitment strategies, ensuring fair promotions, tracking and reporting diversity metrics, or launching leadership, mentorship and educational programmes.

Endorsed by the country’s finance ministry, the charter was launched by the Luxembourg Bankers’ Association (ABBL), the Association of Insurance and Reinsurance Companies (Aca), the Association of the Luxembourg Fund Industry (Alfi), the Luxembourg Capital Markets Association (LuxCMA), the Luxembourg Finance Labelling Agency (Luxflag) and the Luxembourg Stock Exchange.