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Webinar: Guide on environnemental impact claims for financial products in France

This guide, co-authored by ADEME and 2DII, with the contribution of the CGDD, aims to assist financial institutions in a clear, accurate, and non-misleading communication approach.

It provides an overview of the standards applicable to the environmental impact claims of financial products and proposes recommendations on best practices, with two objectives:

  • To combat greenwashing, which is a barrier to the financing of the green transition by retail and institutional investors.
  • To provide a clearer framework for financial institutions to protect themselves against the legal and reputational risks associated with greenwashing practices.

The risk of greenwashing in the context of environmental impact claims is particularly high in the financial sector. In the absence of a clear regulatory framework, financial institutions face significant legal uncertainty and are exposed to legal and financial risks in the event of prosecution and sanctions. In addition, recent accusations of greenwashing, involving financial sector actors, illustrate the reputational risk to which financial institutions are exposed.

Read the full version of the report here.

 

FUNDING: This project was funded by the European Union LIFE program under the grant agreement LIFE18IPC/FR/000010 A.F.F.A.P.

DISCLAIMER: This work reflects the views of 2DII, the French Agency for Ecological Transition (ADEME) and the Commissariat Général au Développement Durable (CGDD) of the French Ministry for Ecological Transition. The other members of the Finance ClimAct Consortium and the European Commission are not responsible for the use that could be made of the information it contains.

 

05.04.23
Online
Host

2° Investing Initiative

Speakers

Samia Baadj, Senior Manager // Cécile Imbert, Sustainable Finance Economist at Foresight and Research Executive Directorate for ADEME


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It provides an overview of the standards applicable to the environmental impact claims of financial products and proposes recommendations on best practices, with two objectives:

  • To combat greenwashing, which is a barrier to the financing of the green transition by retail and institutional investors.
  • To provide a clearer framework for financial institutions to protect themselves against the legal and reputational risks associated with greenwashing practices.

The risk of greenwashing in the context of environmental impact claims is particularly high in the financial sector. In the absence of a clear regulatory framework, financial institutions face significant legal uncertainty and are exposed to legal and financial risks in the event of prosecution and sanctions. In addition, recent accusations of greenwashing, involving financial sector actors, illustrate the reputational risk to which financial institutions are exposed.

Read the full version of the report here.

 

FUNDING: This project was funded by the European Union LIFE program under the grant agreement LIFE18IPC/FR/000010 A.F.F.A.P.

DISCLAIMER: This work reflects the views of 2DII, the French Agency for Ecological Transition (ADEME) and the Commissariat Général au Développement Durable (CGDD) of the French Ministry for Ecological Transition. The other members of the Finance ClimAct Consortium and the European Commission are not responsible for the use that could be made of the information it contains.

 

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2DII today announced it is transferring stewardship of the Paris Agreement Capital Transition Assessment (PACTA) to RMI, formerly Rocky Mountain Institute. PACTA measures financial portfolios' alignment with various climate scenarios, including those consistent with the Paris Agreement. Under RMI’s stewardship, PACTA will remain a free, independent, open-source methodology and tool, and will continue to provide the financial and supervisory community with forward-looking, science-based scenario analysis to help users make climate-aligned financing decisions. RMI will invest in scaling up PACTA’s usability and applicability in day-to-day investment decisions as well as reporting requirements.

Access the full press release here: https://2degrees-investing.org/2-investing-initiative-transfers-stewardship-of-pacta-to-rmi/In the coming weeks, we will update this website with additional information. For now, please note that all contact information remains unchanged.