Eligibility Commission

The assessment of the products that apply for the label will be performed by an Eligibility Commission consisting of representatives from the financial sector and from the non-financial sector, e.g. academia and civil society.

Not more than half of the Experts will be representatives of the financial sector (“Financial Sector Experts”). At least half of the Experts will be representatives of the non-financial sector (“Independent Experts”). Hence, the number of Financial Sector Experts cannot exceed the number of Independent Experts.


Independent experts

Luc Van Liedekerke (University Antwerp) – Chair

Luc is Professor of economy and philosophy and teaches philosophy and business ethics at the universities of Leuven and Antwerp. He is also chairman of EBEN (European Business Ethics Network), a network of 1200 business ethics spread over 40 countries. He is prominent expert in sustainable investments and serves as the chairman of the Register Committee of Ethibel and also has a seat in the Vigeo Eiris Scientific Committee.

Siem de Ruijter (UCLL Leuven)

Siem is lecturer at UC Leuven-Limburg where he teaches investing, accounting and entrepreneurship. At UC Leuven-Limburg, he also works on research and projects on sustainable saving and investing. He is co-author of ‘Ethisch beleggen is voor iedereen’ ('Ethical investing is for everyone’ in English), published in 2016.

Céline Louche (Audencia Business School)

Céline is professor of Business & Society and head of the CSR Research Group at Audencia Business School, France. Building from organizational, institutional and strategic perspectives, her research examines the interplay between business and society with a specific focus on sustainable and responsible finance. She published in journals such as Human relations, Business and Society, Journal of Business Ethics, Organization & Environment, and World Development.

Olivier Marquet

Until recently, Olivier was Director General of UNICEF Belgium and before he was Managing Director of Triodos Bank Belgium (2003-2015). During his time at Triodos, he gave more than 100 conferences on sustainable finance and gave his advice to a number of social and environmental associations. With a long career and expertise in sustainable investment, he is currently member of the advisory committee of the Louvain School of Management and of the King Baudouin Foundation.

Virginie Xhauflair (Liège Université)

Virginie is a professor at HEC Liège, University of Liege. She holds the Baillet Latour Chair in Philanthropy and Social Investment. She co-manages the Center for Social Economy, and is the academic founder of the HEC Liège SustainLABility. She teaches Business Ethics, as well as courses related to impact investment, venture philanthropy, social performance reporting, and social entrepreneurship. Her current research focuses on social innovation processes and sustainable enterprises, with a focus on innovative investment practices (venture philanthropy, impact investing, SRI).


Financial sector experts

Virginia Schreurs (Assuralia)

Virginia is working as a Policy Advisor on Life Insurance at Assuralia, the umbrella association of insurance companies operating in Belgium. As such she treats a divers set of topics concerning consumer protection regulation, investment rules for life insurance, sustainable finance and anti-money laundering.

Tom Van den Berghe (Febelfin)

Tom is Senior Counsel Sustainable Finance at Febelfin, the Belgian Federation of the financial sector. In his current role, he has led the development of Quality Standard and the label for sustainable financial products, while being responsible for a wide range of sustainable finance issues, going from sustainable lending and investing, circular economy and microfinance. Before this project he was CSR & IT Manager at Febelfin and previously worked for the Belgian Asset Managers Association (BEAMA).

Andy Vangenck (BEAMA)

Andy is Senior Counsel Asset Management & Private Banking at Belgium Asset Managers Association (BEAMA). Among his multiple fields of responsibilities which include sustainable investment funds, he has followed the development of the Quality Standard and the label for sustainable financial products from the initial conception phase. He previously worked for Assuralia, the umbrella association of Belgian and foreign insurance and reinsurance companies operating in Belgium.

Thomas Wulf (Belsipa)

Thomas is Secretary General of the European Structured Investment Products Association (EUSIPA), a role in which he also covers the management of the Belgian Structured Investment Products Association (BELSIPA). Thomas, a lawyer by profession, has worked for many years at Linklaters, a major global law firm where until 2012 he was Head of Business Development, first for Belgium, then for Western Europe. He provides for an expertise in European law, capital markets law (derivatives side), corporate governance and international relations.



The Eligibility Commission will advise the Board of Directors on awarding the ‘Towards Sustainability’ label to individual products, based on the assessment reports received from the independent Verifier.