On Thursday, 18 April 2024, Deloitte Luxembourg hosted  the MOMENTUM Conference at its premises in Gasperich. This year's agenda invited established changemakers and leaders from prominent companies, the Ministry of Environment, Climate and Biodiversity, and European institutions in Luxembourg to reimagine, innovate, and collaborate around what’s possible for the future. For the third year in a row, MOMENTUM served as a platform for meaningful conversations, energizing ideas, and inspiring solutions to advance sustainability initiatives. 

"It's time we translate words into actions. Sustainability is not about clichés or empty promises; it’s a steadfast commitment that transforms through tangible actions,” says Francesca Messini, Sustainability Leader at Deloitte Luxembourg. “We must leverage our knowledge, expertise, and resources to drive positive change. Deloitte calls upon all stakeholders to embrace the challenge and take bold steps towards a better, sustainable future.”

The conference, moderated by the Luxembourgish changemaker Jana Degrott, facilitated discussions through three distinct panels, each dedicated to its specific theme:

Panel #1: Ensuring an equitable and just transition in finance

The first panel, led by Julien Froumouth, Head of Sustainability of ABBL, kicked off the conference with discussions about the integration of sustainability in finance, and the role of financial institutions in supporting a sustainable future. 

Participants delved into the challenges private markets face when directing financial flows towards a green transition, the steps organizations need to take to define credible financial plans. The panel also stressed the importance of international financial institutions striking a strategic balance between preventing greenwashing and actively supporting a low-carbon economy. 

As the panel drew to a close, the experts underlined how stricter regulations and closer collaboration between policymakers and industry stakeholders will be key to accelerating progress towards sustainability.

Panel #2: Supporting economic growth beyond the EU

Led by Nicoletta Centofanti, CEO of the Luxembourg Sustainable Finance Initiative, the second panel explored the opportunities and challenges associated with promoting global sustainable growth. 

From green and climate finance activities to the challenges of transitioning to a green growth model, speakers explored important considerations when trying to reach low-income and vulnerable communities; this included the mobilization of financial resources, the role of taxonomies in scaling up green finance, and the collaboration between multilateral development banks (MDBs) and international organizations. 

Panel #3: Synergizing our commitments for real change 

Following a short break, the conference continued with an engaging session on how business strategies are impacted by sustainability efforts. Moderated by Michael Halling, Professor and Chair in Sustainable Finance of the University of Luxembourg, this dynamic discussion shed light on the growing importance of sustainability in shaping business agendas. 

Industry leaders shared steps taken to align their organizations with sustainable practices from environmental (E), social (S) and governance (G) perspectives. The panelists highlighted the need for robust commitments and effective governance structures to navigate challenges and make sustainable progress. Discussions also touched upon the acceleration needed in respective sectors to meet the Paris Agreement targets and COP28 commitments, with participants envisioning their businesses as sustainable entities a decade from now.

The agenda ended with a TED-style talk by Ed Gillespie, Co-founder Futerra, Inspirational Keynote Speaker, Writer, Serial Entrepreneur and Futurist: "Why are we in so much trouble? Partly, it's because our willingness to act is inversely proportionate to the impact of our actions. We are living through a generational acceleration, and the planet is starting to send back invoices to the economy, calling back that ecological debt." Ed continued: "The best way to attack climate chaos is to address inequalities in all ways, shapes, or forms - whether it's based on gender, ethnicity, disability, or income - that's going to make for a much more resilient world. […] He went on to list the 6 things businesses can focus on to make a real cultural change, "We need strong leadership, maintaining belief in the possibility of change, governance at the right level in our organization to make bolder decisions, closing the huge implementation vs expectations gap, decarbonization investments, and working with all suppliers in the supply chain.”

MOMENTUM not only focused on the larger players, but also paid attention to the smaller, local entities. A variety of NGOs were also present, giving attendees the opportunity to interact with different organizations like Dress for Success, Foundation Follereau Luxembourg, and Serve the City.

The event closed with a networking cocktail, where attendees could continue discussing conference takeaways amid Thomas Iser’s inspiring art project, "Universal Humanity.”

Interested in moving sustainability forward? Visit our website here: https://www.deloitte.com/lu/sustainable-climate