Gender equality and principles of equal treatment
Gender equality and principles of equal treatment are key principles of EU law.
In Luxembourg, the implementation of the national action plan for gender equality has been the central activity of the Ministry for Equal Opportunities since 2006.
Besides the fact that ongoing discussions on gender quotas for Boards of Directors could eventually lead to a legal framework at European as well as at national level, implementing a diversity strategy may be important for reasons of competitiveness and economic performance.
In 2014, the Minister for Equal Opportunities, Mrs Lydia Mutsch, has presented the governmental strategy concerning women in decision-taking positions.
According to this strategy, in future, political parties will be fined if they have less than 40% of women in their ranks. The government will further endeavor to nominate 40% of women in companies with State participation.
Concerning private companies, Minister Mutsch counts on the good will of business leaders to increase the proportion of women at all levels of company hierarchy. The program of positive actions proposed as an incentive for companies will be further developed.
In 2012 already, the ABBL drafted a model Charter on diversity and equal opportunities for the financial sector.
This initiative is aimed at managers and employees of the sector and reflects the ABBL’s commitment to a process of sustainable development and corporate social responsibility for the Luxembourg financial centre. It aims to value and promote the equal treatment of persons form diverse backgrounds.
The ABBL Charter has several objectives:
- Promoting equal professional opportunities for men and women
- Ensuring the multi-generational management of staff
- Implementing processes to encourage ethnic and cultural diversity
- Optimally managing the employment of people with disabilities,
- Opposing all forms of discrimination
In order achieve these objectives the Charter proposes a certain number of best practices to put in place within companies.
With this Charter, the ABBL hopes to encourage financial sector companies to adopt a long-term approach to diversity and to increase the proportion of women at all levels of company hierarchy.
The ABBL is indeed convinced that such an initiative will have a positive effect on the performance of participating companies and on the competitiveness of the financial sector and the economic and social development of the country as a whole.
Charte de la Diversité Lëtzebuerg
On 26 September 2012, a national Charter on Diversity addressing all Luxembourg companies was launched by the Comité pour la Charte de la Diversité Lëtzebuerg – IMS.
Wishing to cooperate in a positive and constructive way, the ABBL and the Comité pour la Charte de la Diversité Lëtzebuerg / IMS have decided to mutually recognise each others’ Charters.
Indeed, signatories of the ABBL’s Charter will be invited to adhere also to the national Charter on Diversity, whereas signatories of the national Charter, which are members of the ABBL, will be invited to sign the financial sector Charter of the ABBL.
The ABBL has become a member of the Comité pour la Charte de la Diversité Lëtzebuerg.
Members that are signatories of both Charters will benefit from actions organised by both associations and have the visibility of their commitment accrued.