During the Seminar “Preparing for the Future – the Role of Finance” on October 27^th at the University of Liechtenstein members of the Club of Rome as well as numerous representatives from Liechtenstein’s financial centre discussed potential scenarios for a sustainable development of future global financial markets. From the left: Patrick Liedke (The Risk Institute, Geneva), Franz Josef Rademacher (Initiator Global Marshall Plan), Andreas Fischlin (Co-Author of IPCC’s 4^th Assessment Report) and Ian Johnson (Secretary General of The Club of Rome).

Approaches and investment strategies that are committed to sustainability have been steadily growing in importance. They are finding increasing interest with institutional investors as well as with private investors. The topic of microfinance as a financial investment in particular has experienced a real boom in recent years. The origins of microfinance lie amongst other things in a philanthropic movement whose aim was to provide credit aid to economically active people in poverty. Over the years, the start volume grew very rapidly and produced a new market segment which allowed micro-enterprises official access to financial services.

Klaus Tschütscher seeks to place Liechtenstein’s financial market into a new context. In the future Liechtenstein’s financial market should be associated with responsible investing and sustainable development. “Ecological values and economic gains are not contradictory, the opposite is true” said Liechtenstein’s prime minister within his opening speech mid September at the Liechtenstein Congress on Sustainable Development and Responsible Investing” at the University of Liechtenstein.

Liechtenstein and Switzerland have abolished Value Added Tax (VAT) on carbon credits. The abolition became effective on July 1^st 2010. The competent tax authorities have changed a previous practice which qualified the sales of carbon credits as a taxable issue. “This change of practice ensures that carbon trading is no longer vulnerable to so called VAT carrousel fraud”, explained Prime Minister Klaus Tschütscher.

 The Foundation Board of the charitable LIFE Climate Foundation Liechtensteinhas approved the Annual Report 2009. The Foundation was able to take significant initiatives in the first year of its existence. "The Climate Foundation's activities clear the path today for the business fields of tomorrow. The Climate Foundation thereby makes a valuable contribution to the development of the Liechtenstein financial and business location," said Simon Tribelhorn, Executive Director of the Climate Foundation, at the presentation of the Annual Report.

The third LIFE event took place on May 10^th and was dedicated to the consequences and lessons learned from the Copenhagen Summit last December. The notable guests discussed various approaches on how to get back on the green track after the failed Copenhagen Summit: Steffen Klatt (nachhaltigkeit.org) Peter Cavada (Hilti AG), Daniel Kerbach (LGT), Felix Näscher (Head of Liechtenstein UN Delegation), Klaus Tschütscher (Prime Minister), Renat Heuberger, Partner South Pole Carbon), Nick Beglinger (President swisscleantech) and Adolf E. Real (Liechtenstein Bankers Association).