6 propositions pour une finance au service du climat
Summary
The document outlines six specific proposals to reform financial practices in France and the European Union to combat climate change. These include banning the financing of new fossil fuel projects, introducing a 'nutri-score' for the carbon impact of financial products, increasing capital requirements for banks supporting fossil fuels, aligning European Central Bank (ECB) operations with climate goals, ending export financing for hydrocarbons, and strengthening shareholder rights to influence corporate climate strategies.
Key insights
- The four largest French banks—BNP Paribas, Société Générale, Crédit Agricole, and BPCE—have provided $295 billion in financing to the fossil fuel industry since the 2015 Paris Agreement, which is more than 34 times the 2018 investments in renewable energy in France.
- A study of 442 funds marketed in France in October 2020 found that 86% contained securities from companies with environmentally or socially harmful practices; among funds labeled as 'Socially Responsible Investment' (ISR), 94% financed such companies.
- Reclaim Finance proposes a mandatory 'carbon score' for all financial products sold in France, based on scope 1, 2, and 3 emissions, and a ban on labeling products as 'sustainable' or 'responsible' if they support 'climaticide' activities or human rights violations.
- The European Central Bank (ECB) is called upon to stop purchasing assets from companies developing fossil fuel projects and to stop accepting such assets as collateral for bank refinancing.
- France's current export financing policy is criticized for not ending support for oil until 2025 and gas until 2035, and for potentially supporting gas pipelines, LNG terminals, and gas power plants.
- To improve climate engagement, the document proposes legalizing a 'Say on Climate' mechanism in the French Commercial Code for annual advisory votes on corporate climate strategies and lowering the 0.5% capital threshold required for shareholders to file resolutions.
Cite the original document
- APA
- Reclaim Finance (2022). 6 propositions pour une finance au service du climat. https://reclaimfinance.org/site/wp-content/uploads/2022/01/RF-Propositions-presidentielles-2022.pdf
- Chicago
- Reclaim Finance. 6 propositions pour une finance au service du climat. 2022. https://reclaimfinance.org/site/wp-content/uploads/2022/01/RF-Propositions-presidentielles-2022.pdf.
- Wikipedia
- {{cite press release |author=Reclaim Finance |title=6 propositions pour une finance au service du climat |date=2022 |url=https://reclaimfinance.org/site/wp-content/uploads/2022/01/RF-Propositions-presidentielles-2022.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}
- BibTeX
- @misc{reclaimfinance2022propositions, author = {{Reclaim Finance}}, title = {{6 propositions pour une finance au service du climat}}, publisher = {Reclaim Finance}, year = {2022}, url = {https://reclaimfinance.org/site/wp-content/uploads/2022/01/RF-Propositions-presidentielles-2022.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }
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