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The State of the Luxembourg Boardroom 2021

A report by ILA and Diligent

Board functioning and effectiveness are the parameters that this joint research from Diligent and the Luxembourg Institute of Directors (Institut Luxembourgeois des Administrateurs or ILA) attempts to gauge. Experience has shown that when boards have the proper expertise and are well-organised with key (supporting) aspects well defined, the directors are in a much better position to focus on what is most important.

This report addresses three key areas:
1. The Governance Framework within which boards are operating,
2. Board Effectiveness, and
3. How boards are approaching ESG and Sustainability.

At the end of this report is an in-depth investigation into how boards in Luxembourg are currently approaching the growing social and regulatory demands for more attention to be paid to an increasing number of sustainability and environmental, social and governance (ESG) topics.

The survey is based upon the responses of around 100 ILA respondents, representing both independent directors, non-executive directors and corporate secretaries.