The state-backed Luxembourg Sustainable Finance Initiative has partnered with think-tank 2° Investing Initiative to offer institutions a tool for measuring the alignment of investment portfolios with energy transition targets. The service, to be launched at the end of this month, will be open to all industry players on an anonymised basis. The organisation's director-general, Claire de Boursetty, says the tool is designed to increase awareness of the challenge posed by the energy transition, and it will issue recommendations to the public to encourage investors to align their own portfolios with climate targets. De Boursetty says that over its first 18 months the initiative has focused on raising awareness of sustainable finance in the financial community and the general public, and on consolidating Luxembourg's role as an international leader in the sector.

Trading in European equities and derivatives has migrated to Amsterdam following the UK's departure from the EU single market at the end of December, according to research carried out by Dutch consultancy De Argumentenfabriek. However, although asset managers and banks have relocated activities and key positions from London to Dublin, Frankfurt, Paris and Luxembourg, hardly any jobs have moved to Amsterdam, the firm says. JP Morgan says it expects staff numbers in Paris to increase to 440 by the end of this year, having already moved 140 jobs as a result of Brexit.