Read the Initial Assessment published by the NCP on 6 December 2024: English
On 11 March 2024, GreenPeace Luxembourg submitted a specific instance to the NCP of Luxembourg alleging that the Fonds de Compensation de la Sécurité sociale SICAV FIS, the public limited entity handling the management of the assets of the general pension insurance scheme in Luxembourg, had not observed the General Policies (Chapter II), Disclosure (Chapter III), Human Rights (Chapter IV), Environment (Chapter VI) and Consumer Interests (Chapter VIII) provisions of the Guidelines. Specifically, the complaint alleges that the SICAV FIS lacks a risk-based human rights and environmental due diligence policy in line with the Guidelines and fails to conduct due diligence to prevent and mitigate impacts linked to its investments. Furthermore, the submitter alleges that SICAV FIS is not aligned with the goals outlined in the Paris Agreement and has not implemented any measurable objectives, targets or strategies to address environmental issues such as climate change. The submitter further claims that SICAV FIS has made misleading statements about the sustainability of its investments.
On 6 December 2024, the NCP of Luxembourg published its initial assessment, deciding to accept the case for further examination. The NCP offered its good offices to facilitate dialogue between the parties; however, SICAV FIS declined this offer, opposing its classification as an entity covered by the Guidelines. The NCP is now examining the issues and proceeding with its final statement.