ESG and sustainable finance for Board members and conducting officers

Nowadays, it's almost impossible to open a newspaper without encountering an article on 'sustainability'. Whether it's in the context of the financial services industry, the broader economy, or society as a whole, sustainability has become a critical issue. In recent years, it has gained significant traction and is now recognised as a necessity rather than just a trend.

Over the past decade, the focus on environmental issues has grown exponentially, resulting in various global commitments and initiatives aimed at transforming current institutional, economic, and financial models.

This course is designed specifically for board members and conducting officers to help them understand the role of Environmental, Social, and Governance (ESG) factors, as well as sustainable finance principles, in strategic decision-making. As ESG considerations become central to the financial and operational health of organisations, senior executives must adapt and align their strategies to these emerging trends.

By the end of this training, participants will:

• understand the foundational principles of ESG and sustainable finance;
• identify the roles and responsibilities of board members and conducting officers in implementing and overseeing ESG initiatives;
• gain insights into regulatory requirements, such as SFDR, CSRD, and EU Taxonomy, that are shaping ESG disclosures and sustainable finance practices;
• learn how to integrate ESG risks into corporate strategy, risk management, and governance frameworks.

• Introduction to ESG and sustainable finance
  • Overview of ESG factors and their relevance to financial institutions.
  • Key sustainable finance concepts: responsible investments, sustainable investments, and stakeholder engagement.
• Board-level responsibilities
  • Role of the board in ESG governance.
  • Understanding ESG risks and opportunities at a strategic level.
  • How to incorporate sustainability into decision-making and organisational culture.
• Regulatory landscape
  • Overview of SFDR, CSRD, and EU Taxonomy: key regulations board members need to know.
  • Implications of non-compliance and how to ensure alignment with regulatory expectations.
• Practical approaches for conducting officers
  • ESG reporting and disclosure requirements.
  • Best practices for conducting officers in managing ESG performance and data.

This training is coordinated by Michael Horvath, Frederic Vonner, Kenny Panjanaden and Geoffroy Marcassoli, Partners at PwC Luxembourg.

Michael Horvath is a partner at PwC with extensive expertise in sustainable finance and the asset management industry, including both financial and real assets. Since joining PwC Switzerland in 2011 and PwC Luxembourg in 2018, he has led significant projects in regulatory audit and advisory, focusing on the asset management sector. Michael has played a key role in implementing the EU regulatory framework for sustainable finance, including SFDR, taxonomy regulation, and CSRD, as well as other regulatory initiatives such as DORA, AML/CFT, CSSF circular 18/698, and MICA. He is a certified public accountant in Switzerland and Liechtenstein and has contributed to designing compliance frameworks and operational implementations driven by regulatory changes. His notable client projects include defining target operating models for Luxembourg AIFMs, digital operational resilience planning, AML/CFT framework implementation, and ESG/sustainability process design, supported by his involvement in training and regulatory advisory.

Frédéric Vonner is a partner with over 22 years of experience managing projects and advising asset managers and securities service providers in the investment fund industry, primarily in Luxembourg. He specialises in operational excellence and regulatory compliance for UCITS and alternative funds, with a strong focus on sustainability and sustainable finance, covering strategy, compliance, and implementation. Frédéric is also an experienced trainer and course facilitator for both soft skills and technical topics. He actively contributes to ALFI and EFAMA working groups and has led numerous client projects including sustainable finance assessments, UCITS V and AIFMD implementations, depositary and GDPR assessments, fund administration reviews, and service provider rationalisation.

Kenny Panjanaden is a partner specialising in ESG and sustainable finance within the ESG Assurance practice. He leads the firm’s internal Task Force on Climate-related Financial Disclosures (TCFD) working group and has driven key discussions with regulators, government, and industry stakeholders to raise awareness in the Luxembourg market. Kenny serves on the LuxFLAG ESG Label Eligibility Committee, overseeing the attribution of labels to sustainable funds. He manages a substantial portfolio of asset management clients, including UCITS and alternative funds, and leads teams of up to 15 people. His expertise spans ESG, asset and wealth management, and alternative investments, with notable projects for clients such as Nordea, Caixabank Asset Management, Santander, Axxion, Union, and Swiss Life.

Geoffroy Marcassoli is a partner and assurance expert specializing in ESG and sustainable finance, leading PwC Luxembourg’s ESG assurance practice and the PwC EMEA ESG working group for Asset Management. He actively contributes to industry groups such as EFAMA, Invest Europe, ALFI, and LPEA. Geoffroy’s expertise encompasses regulatory gap assessments, assurance reviews of sustainability reports, and ESG KPIs across asset classes. Beyond ESG, he oversees audits of mutual funds, hedge funds, and private equity funds for global asset managers with diverse investment strategies. His client portfolio includes Goldman Sachs, JP Morgan, AQR Capital, Nuveen, and CBRE.