Context
Since the Energy and Climate Act of 8 November 2019 and the implementing decree for its Article 29 of 29 May 2021, French investors have been required to publish annually in what was the ‘Article 173 LTECV’ scheme and is now the ‘Article 29 LEC’ scheme, a report describing their practices for taking into account sustainability aspects in the broadest sense (environmental, social and governance criteria) in their investment activities. This system is an extension of the European SFDR regulation.
In order to give global visibility to this work and make it easier to analyse, the law entrusts ADEME, a government agency with expertise in climate-related issues, with the task of collecting and publishing these reports centrally on a website accessible to the public: the Climate Transparency Hub (CTH). ADEME carries out an annual analysis of these reports, the aim of which is to identify statistical trends in remittances and to improve the practices of financial players. The analysis was carried out until 2024 with the contribution of the LIFE Finance ClimAct programme, and from 2024 in coordination with the Sustainable Finance Observatory, which also provides support for the collection of reports on the CTH.
2024 Report
This study concerns the ‘Article 29 LEC’ 2024 remittances for the 2023 financial year. These submissions include not only the filing of narrative reports on the CTH website, in a format that meets the requirements of the implementing decree (i.e. the nine topics covered), but also the submission of standardised annexes to the ACPR for insurers and to the AMF for portfolio management companies and banks (credit institutions or investment firms for their third-party portfolio management and investment advice activities).
Watch the replay of the webinar presentation here.
