Are you curious to know how your financial choices can make a real contribution to the fight against climate change? Would you like to find out about the innovative initiatives that have been put in place in Luxembourg to promote sustainable finance? In this interview, Laetitia Hamon, Head of Sustainable Finance at the Luxembourg Stock Exchange, shares her ideas and experiences on these crucial topics. Read this interview to find out how you can make the difference and be an agent of change towards a more sustainable future.
Local shopping and how to ensure a sustainable lifestyle
Local shopping reduces our carbon footprint and from an economic standpoint, it strengthens the local economy. But there are many other benefits. We spoke to Anne Darin, Director of the Union Commerciale de la Ville de Luxembourg who tells us how Luxembourg compares to other countries and provides five useful tips on how we switch to a more sustainable lifestyle.
Buying local products is a more sustainable option compared to products that have been travelling long distances before arriving to Luxembourg. Unfortunately, in Luxembourg, we don’t have the possibility to produce everything we consume so we are obliged to import products from other countries. It is more sustainable to buy products made in the Greater Region around Luxembourg and in Europe.
Buying locally close to home also helps support trade in your neighborhood, your city and therefore support the local economy.
Local products may have a lower carbon footprint due to reduced transportation distances, but they could still have a significant environmental impact during production.
Here are some steps you can take to help identify and purchase locally sourced products:
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Check labels and packaging: Look for labels or indications on products that highlight their origin. Look for “Made in Luxembourg” labels which indicate their local production.
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Visit small local shops which prioritize local producers. They often support local businesses and may have a higher proportion of locally sourced products.
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Come and visit us at our Cityshopping Info Point (it’s located in the Cercle Cité 2 Place d’Armes) and ask for local brands. We’re always happy to guide our visitors.
In the past years we have seen a strong growth in the supply of organic products in Luxembourg as well as the introduction of many organic, geographic and local labels, such as, for example, BIOG, Made in Luxembourg or “Marque Nationale”. Thus, the demand and supply for quality and more local food products is increasing and a real market is now taking hold.
Since Covid, we have noticed a real change in the way Luxembourgers consume. We buy local brands and prefer small shops to multinationals.
In Luxembourg, we put a special attention to the country of origin of the product. We want high quality products and when we have the choice, we support local shops.
In the past two years, we have noticed a rise in shops dedicated to bio beauty products, ethical productions, and a more sustainable offer in general. Secondhand shops, too, are trending.
When it comes to sustainability, Nordic countries such as Sweden, Finland or Denmark are often considered as pioneers. These countries are well known for their renewable energy sources, sustainable transport and their implementation of various policies and initiatives to transition to carbon neutral.
It is important to note that sustainability is a complex concept, and there are numerous other countries that are actively working towards sustainable development. Sustainability efforts can vary within different regions of a country.
About the blog:
There is an urgent need for rapid transition to global sustainability. Business and industry have enormous social and environmental impacts. "Why does it matter?" is a bi-monthly blog that aims to elucidate this important topic through the eyes of our experts.
Don't miss out our experts' practical tips for your daily life and be part of the positive change.