Indices climatiques : L’Union européenne passe à côté de l’Accord de Paris

The European Union's 'Benchmark Regulation' introduces the Paris Aligned Benchmark (PAB) and Climate Transition Benchmark (CTB) to standardize 'green' financial indices. However, Reclaim Finance asserts these are insufficient because they lack requirements for absolute greenhouse gas emission reductions and do not guarantee the exclusion of companies developing new fossil fuel projects. The document highlights a gap in passive asset management, noting that firms like Lyxor AM and BlackRock often exclude coal from active assets but not from passive index funds. To achieve real alignment, the author suggests adding absolute emission reduction targets, stricter exclusion thresholds, and a dynamic phase-out of fossil fuels to the PAB framework.

• The European Union's proposed climate benchmarks, the Paris Aligned Benchmark (PAB) and the Climate Transition Benchmark (CTB), are considered insufficient for real alignment with the Paris Agreement because neither requires an absolute reduction in greenhouse gas emissions, and the PAB does not ensure the exclusion of companies developing new fossil fuel projects.
• Passive index management, which accounts for over 20% of globally managed assets and is growing in Europe, often bypasses climate policies. For example, Lyxor AM and BlackRock do not apply their coal policies to assets managed passively, despite managing approximately half and over two-thirds of their assets this way, respectively.
• To create a viable climate trajectory, the document recommends that financial indices based on the PAB incorporate three additional criteria: absolute annual emission reduction targets, strengthened exclusion thresholds, and a dynamic approach toward a progressive exit from fossil fuels.

APA

admin (2020). Indices climatiques : L’Union européenne passe à côté de l’Accord de Paris. Reclaim Finance. https://reclaimfinance.org/site/2020/11/27/indices-climatiques-union-europeenne/

Chicago

admin. Indices climatiques : L’Union européenne passe à côté de l’Accord de Paris. Reclaim Finance, 2020. https://reclaimfinance.org/site/2020/11/27/indices-climatiques-union-europeenne/.

Wikipedia

{{cite press release |last1=admin |title=Indices climatiques : L’Union européenne passe à côté de l’Accord de Paris |publisher=Reclaim Finance |date=27 November 2020 |url=https://reclaimfinance.org/site/2020/11/27/indices-climatiques-union-europeenne/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{admin2020indices, author = {admin}, title = {{Indices climatiques : L’Union européenne passe à côté de l’Accord de Paris}}, publisher = {Reclaim Finance}, year = {2020}, month = nov, url = {https://reclaimfinance.org/site/2020/11/27/indices-climatiques-union-europeenne/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }