On 10 October 2022, theUnion Luxembourgeoise de l’Économie Sociale et Solidaire (ULESS), in close collaboration with the societal impact company KnowThyBrand Women SARL-S SIS, and with the support of the Ministry of Labour, Employment and the Social and Solidarity Economy (MTEESS), is launching the “IMPACT LUXEMBOURG – Société d’Impact Sociétal” label.
The Societal Impact Company (SIS) is a unique legal status, unprecedented in Europe, aimed at both existing companies and budding social entrepreneurs wishing to launch socially innovative activities, and in particular to create a commercial company with a view to carrying out an economic activity while generating a societal impact. The company’s profits must be reinvested in the company to maintain its activity and maximise its social impact.
The entry into force of the law of 12 December 2016 creating societal impact companies has made a major contribution, not only to the national recognition of the social and solidarity economy, but also to creating the legal foundations necessary for the development of social entrepreneurship.
Through the creation of Socially Responsible Investment (SRI) companies, social entrepreneurs are helping to achieve the 17 “sustainable development goals” promoted by the United Nations.
Any company with ministerial approval as a “Société d’Impact Sociétal” (SIS) may contact ULESS to obtain the graphic files and guidelines for use of the label.
This label may be used in the communications of all companies approved as Societal Impact Companies (SIS) in Luxembourg, in order to support and promote their activities in favour of a Social and Solidarity Economy (SSE). The creation of the Label, like the launch of the social and solidarity economy portal, reflects the government’s desire to promote the social and solidarity economy as part of Luxembourg’s policy of economic diversification.
Management of the new label has been entrusted to ULESS.
The official launch of the “IMPACT LUXEMBOURG – Société d’Impact Sociétal” label and the launch of a website dedicated to the label(www.impactluxembourg.lu) will be followed by a series of communication initiatives aimed at raising public awareness of the challenges of social entrepreneurship and increasing the visibility of SISs in the face of growing demand for products and services with a societal impact.
