Coal: the Paris financial center fails its first anniversary

Reclaim Finance reports that the Paris financial centre has failed to meet its mid-2020 deadline for coal exit strategies, with only about ten French financial actors adopting sufficiently robust policies. The analysis specifically criticizes Société Générale for policies that exempt companies with coal exposure under 25%, arguing that such gaps prevent a genuine transition to zero coal.

• The Paris financial centre failed to meet its July 2, 2019, commitment for members to adopt coal disengagement strategies by mid-2020, with only approximately ten French financial institutions meeting their pledges.
• Société Générale's coal divestment policy is deemed insufficient because it does not require companies with coal exposure below 25% (that are not developing new projects) to implement plans to shut down coal mines, plants, and linked infrastructure.
• There is a distinction between 'coal-related exclusion policies,' which most principal financial actors (except ODDO BHF AM and La Française) already possess, and 'coal exit policies' which require a full transition to zero coal.
• To limit global heating to 1.5°C above pre-industrial levels, the document states that 78% of coal-fired power capacity must be cut by 2030 and the remaining 22% by 2040.

APA

admin (2020). Coal: the Paris financial center fails its first anniversary. Reclaim Finance. https://reclaimfinance.org/site/en/2020/07/06/coal-the-paris-financial-center-fails-its-first-anniversary/

Chicago

admin. Coal: the Paris financial center fails its first anniversary. Reclaim Finance, 2020. https://reclaimfinance.org/site/en/2020/07/06/coal-the-paris-financial-center-fails-its-first-anniversary/.

Wikipedia

{{cite press release |last1=admin |title=Coal: the Paris financial center fails its first anniversary |publisher=Reclaim Finance |date=6 July 2020 |url=https://reclaimfinance.org/site/en/2020/07/06/coal-the-paris-financial-center-fails-its-first-anniversary/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{admin2020coal, author = {admin}, title = {{Coal: the Paris financial center fails its first anniversary}}, publisher = {Reclaim Finance}, year = {2020}, month = jul, url = {https://reclaimfinance.org/site/en/2020/07/06/coal-the-paris-financial-center-fails-its-first-anniversary/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }