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The report highlights that French companies hold over 1,000 billion euros in cash, a resource largely managed by financial institutions that continue to fund fossil fuel expansion and ecosystem destruction. Focusing on 20 CAC 40 companies with 162 billion euros in combined cash, the analysis reveals a significant gap in CSR policies: while companies apply ESG criteria to suppliers, they rarely do so for their financial partners. The authors argue that corporate cash is a powerful but underused tool for decarbonization and recommend integrating ESG criteria into the selection of financial partners, setting specific CSR targets for cash management, and establishing structured dialogues with banks and asset managers to end support for unsustainable projects.

The report finds a significant gap between where VCM projects are located and where the managing companies are based, with a strong prevalence of companies from wealthy countries operating in less affluent regions, particularly in Africa. This disparity, combined with a lack of financial transparency, raises concerns that the VCM may not be effectively channeling funds to intended beneficiaries in developing nations.