ISR : une vague de dé-labellisations qui confirme la nécessité d’une régulation stricte

Since January 2025, one-third of funds previously holding the French ISR label have abandoned it rather than comply with new criteria excluding companies developing new coal, oil, or gas projects. Reclaim Finance argues this highlights the failure of voluntary labels and the persistence of greenwashing, noting that over 4,000 ESG-promoting funds are sold in France compared to only 967 ISR-labeled funds. The organization urges regulators to implement binding exclusions of fossil fuel development in the upcoming 2025 revision of the European Sustainable Finance Disclosure Regulation (SFDR) to protect investors and accelerate the financial transition.

• The implementation of the new French ISR label in January 2025 led to one-third of previously labeled funds abandoning the label to avoid applying the new criteria.
• The new ISR framework, published by the Ministry of Economy and Finance in December 2023, excludes companies developing new coal, oil, or gas projects to align with climate goals of limiting warming to 1.5 °C.
• There is a significant gap between the number of funds with the ISR label (967) and the total number of funds promoting various ESG characteristics sold in France (over 4,000), indicating the scale of remaining work to exclude fossil fuels from sustainable finance.
• Specific funds illustrate the limits of voluntary labels: the Amundi Index MSCI Emerging ESG Leaders and Amundi Index Euro Corporate SRI funds chose not to keep the ISR label as of January 1, 2025, while the Amundi Label Equilibre ESR fund holds fossil fuel developers despite being labeled by the CIES.
• Reclaim Finance advocates for the 2025 update of the European Sustainable Finance Disclosure Regulation (SFDR) to mandate the exclusion of companies involved in fossil fuel development for any investment product using a sustainable designation.

APA

Manickawasagar, A. (2025). ISR : une vague de dé-labellisations qui confirme la nécessité d’une régulation stricte. Reclaim Finance. https://reclaimfinance.org/site/2025/03/26/isr-une-vague-de-de-labellisations-qui-confirme-la-necessite-dune-regulation-stricte/

Chicago

Manickawasagar, Aatiraï. ISR : une vague de dé-labellisations qui confirme la nécessité d’une régulation stricte. Reclaim Finance, 2025. https://reclaimfinance.org/site/2025/03/26/isr-une-vague-de-de-labellisations-qui-confirme-la-necessite-dune-regulation-stricte/.

Wikipedia

{{cite press release |last1=Manickawasagar |first1=Aatiraï |title=ISR : une vague de dé-labellisations qui confirme la nécessité d’une régulation stricte |publisher=Reclaim Finance |date=26 March 2025 |url=https://reclaimfinance.org/site/2025/03/26/isr-une-vague-de-de-labellisations-qui-confirme-la-necessite-dune-regulation-stricte/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{manickawasagar2025isr, author = {Manickawasagar, Aatiraï}, title = {{ISR : une vague de dé-labellisations qui confirme la nécessité d’une régulation stricte}}, publisher = {Reclaim Finance}, year = {2025}, month = mar, url = {https://reclaimfinance.org/site/2025/03/26/isr-une-vague-de-de-labellisations-qui-confirme-la-necessite-dune-regulation-stricte/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }