New Revised Version Of The X Principles Of Corporate Governance Of The Luxembourg Stock Exchange

The Luxembourg Stock Exchange has issued a fourth revised version of the X Principles of Corporate Governance (the "X Principles"), to include a new Principle 9 on corporate social responsibility (CSR) and to integrate Principle 6 (Evaluation of the performance of the Board) into Principle 2 (The Board of Directors Remit). The fourth revised version of the X Principles entered into effect on 1st January 2018, and applies to annual reports for financial years as from that date. Companies incorporated under Luxembourg law, whose shares are listed on a regulated market operated by the Luxembourg Stock Exchange, have one year ahead to implement their CSR policy. The X Principles do not apply to SICAVs and Funds as these are governed by specific regulations.

According to the New Principle 9, companies must define their CSR policy in relation to social and environmental responsibility, establish CSR measures, and publish CSR information in a special report or within their management report. The sustainability of their activities must be disclosed along with clear and transparent non-financial information. Boards of directors shall regularly consider non-financial risks, including social and environment risks. Companies must also publish a...

To continue reading

Request your trial

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT