BWB's Impact team was recently commissioned by European Impact Investing Luxembourg to work out an impact reporting framework for a proposed new Luxembourgish social enterprise legal vehicle. This BWB report has now been submitted to the Luxembourg Ministry for Labour, Employment and the Social Economy.
If implemented, the new legal vehicle, the “Societe d’Impact Societal”, will have policy implications for other governments across Europe. A draft Bill is expected to be submitted to the Luxembourg Parliament about the Societe d’Impact Societal shortly.
BWB’s Jim Clifford comments “It would be a unique hybrid legal vehicle operating for a social purpose which could receive both donations (which are tax relieved and are continually recycled in the business of the social enterprise) and investments (which are not tax relieved and which generate returns for shareholders). It will also inextricably link the generation of financial return for investors to the achievement of tangible social impact results, which would be the first time any legal form has a mechanism of this kind. The structure also has the potential to obviate the need for charity-trading subsidiary groups where there is a combination of philanthropic and business activity taking place.”
Please click here to learn more about the SIS and to read BWB's report.
Posted on 19/05/2015 in BWB NewsBack to Knowledge