The Banque de France announced on Thursday that it will exclude from its portfolios by the end of 2024 “any company that develops new fossil fuel extraction projects”, a decision welcomed by the NGO Reclaim Finance. “Since its launch in 2018, Banque de France’s responsible investment strategy has had the ambition to always strengthen its climate commitments and broaden its reach,” underlined Under-Secretary-General for Finance and Socially Responsible Investment (SRI) Alexandre Gautier . , apart from the presentation of the annual report on responsible investment 2022 of the Banque de France.
The fossil fuel exclusion policy has so far consisted of a total exit from coal and a strengthening of the exclusion criteria for hydrocarbons by the end of 2024. The central bank is sending “a strong signal to all financial actors”, greeted the NGO Reclaim. Finance in a press release.
A responsible investor approach undertaken since 2018
The Banque de France also announced its participation this year in the “first coordinated publication exercise of the Eurosystem central banks on harmonized climate impact indicators”, as well as in the development of climate stress tests together with the Prudential Control and Resolution Authority (ACPR).
Since 2018, it has embarked on a responsible investor approach, adopting a charter and then a three-pronged strategy related to climate, broader environmental, social and governance (ESG) issues, and its commitment to the companies in which it is shareholder.
Source: BFM TV
