A new collective commitment of the Paris Financial Marketplace

The FBF has signed, alongside six other professional associations (AFA, AFG, AFIC, ORSE, Paris Europlace SFAF) *, this joint statement, published on the occasion of the Business & Climate Summit, which was held in London on June 28 & 29, 2016.

Over the last 15 years, the Paris financial marketplace has developed recognized know-how and expertise in the field of green and sustainable finance. The Paris financial marketplace is keenly aware of the fundamental role of financial actors in long term financing of the economy as well as in the transition towards a less carbon-intensive economy and encourages its members to pursue and accelerate their mobilization, including:

• Support the implementation of the Paris Agreement at COP22 next November 2016 in Marrakech
• Promote low-carbon strategies implemented by stakeholders and provide clear information on their positive contributions to climate change,
• Establish a constructive dialogue with companies in which they invest or that they fund
• Work together – with support from professional associations – to oversee the roll-out of the carbon risk measurement methodologies applied by institutional investors and credit establishments
• Encourage institutions to share experiences within professional associations
• Step up exchanges with public authorities and regulators, and ask them to create an environment that encourages the flow of capital towards a low-carbon economy with limited climate risk

The commitments announced today consolidate the lead taken by France to boost funding for energy and ecological transition and a further step towards raising private individuals’ awareness about climate risks. France was the first country in the world to establish ambitious regulations to boost funding for the ecological and energy transition in August 2015. In addition to this law, France has also introduced two labels: the TEEC label (energy and ecological transition for climate) and the SRI label (socially responsible investment). The TEEC label qualifies assets held via investment funds with regard to a reference framework that contains a number of selective criteria. The SRI label promotes funds invested in companies that take on-board ESG (environment, social and governance) criteria.

* AFA (Association française de l‘assurance)

AFG (Association française de la gestion financière)

AFIC (Association française des investisseurs pour la croissance)

AFII (Association française des Investisseurs Institutionnels)

FIR (Forum pour l‘investissement responsable)

ORSE (Observatoire de la Responsabilité Sociétale des entreprises)

SFAF (Société française des analystes financiers)

Nouvel engagement collectif des acteurs de la place financière de Paris en faveur de la transition énergétique