Faced with protests from NGOs, Bercy corrects the green ISR label. Created in 2016, the “socially responsible investment” (SRI) label labels the most virtuous investment funds in environmental or social matters to guide savers. However, currently some companies behind fossil fuel exploration projects can qualify for the SRI label, which has sparked criticism from associations and personalities involved in climate issues.
“Ensure credibility”
“There is nothing worse than giving savers the feeling that we are putting a green stamp and that in reality behind [ce sont] brown activities”, declared Bruno Le Maire, explaining that he wanted to “guarantee the credibility” of the ISR label which “was not strict enough”. The ISR label committee, regularly criticized for the weakness of its criteria, had proposed a reform last April, and was awaiting Bercy arbitration. The new version of the ISR label will come into force on March 1.
According to Bercy, today around 1,200 investment funds are denominated SRI, with a total assets of 773 billion euros.
Source: BFM TV
