Liechtenstein royal family backs impact investing
The Alpine impregnability of Liechtenstein was long seen as a symbol of the principality’s banking secrecy laws. Often these would hide financial wrongdoing but, today, the country is seeking to build a reputation for channelling money into doing good.
The Liechtenstein royal family, one of Europe’s richest, has joined the impact investing movement — using funds to achieve positive social or environmental change while making a financial return. The worldwide market for this was worth an estimated $715bn last year, up from $502bn at the end of 2018, according to the non-profit Global Impact Investing Network (GIIN). The royal house is acting through LGT, its global private banking and asset management group. Based in a modern block in Vaduz, Liechtenstein’s capital, the financial powerhouse sits in the shadow of Schloss Vaduz, the castle that is the primary royal residence.