French banks have long rallied in support of the green economy, in France and elsewhere. For the French Banking Federation (FBF), the COP21 conference was an opportunity to publicise the key role they are playing in funding the energy transition.
As part of the Responsible Finance Week (26 September to 2 October 2016) being sponsored by the French Ministry of the Environment, Energy and the Sea, Philippe Brassac, FBF Chairman, spoke at the launch conference alongside Ségolène Royal, Minister of the Environment, Energy and the Sea. He described French banks’ solid commitments to making France a champion of green growth. French banks are global players in this field, with acknowledged expertise, particularly in green bonds.
And yet, the cost of funding the energy transition remains a major challenge. To accelerate funding in this field, the FBF has made a proposal called “the green supporting factor” to assist in funding the energy transition. It has three components:
On this occasion, Marie-Anne Barbat-Layani said, “Our green supporting factor proposal would help speed up funding of the energy transition in France and Europe. For France this would also be an opportunity to step up its role in funding green growth on the eve of COP22.”
Go to our publication “Successfully funding the energy transition” for more details on this proposal from the French banking industry.
La Fédération bancaire française fait des propositions concrètes pour réussir le financement de la transition énergétique
FBF Press release – Concrete proposals from the French Banking Federation for successfully funding the energy transition