French banking/insurance regulator announces experts for Climate & Sustainable Finance Commission

The second of two regulatory committees that will monitor and evaluate the ESG and climate actions of French financial services companies has announced the industry experts that will sit on its Climate and Sustainable Finance Commission.
The Autorité de Contrôle Prudentiel et de Résolution (ACPR), the prudential supervisory authority for banks and insurers set up in 2010 following the global financial crisis, has named 20 banking and insurance professionals that will monitor the sustainable finance commitments undertaken by the sector. The ACPR, which is operationally attached to the Banque de France, is also responsible for protecting customers and fighting money laundering and the financing of terrorism.
Last month, RI reported that a mirror committee for ESG and climate monitoring in the asset management sector was named, comprising professionals from a cross-section of companies, assets managers, ESG research houses, civil society, research and audit firms. The formation of the two Commissions is further indication of France tightening its supervision regime of ESG practices and reporting by French investment groups under the internationally-known Article 173 rule for action on ESG and the climate transition. The new banking and insurance ACPR Commission is chaired by Patrick de Cambourg, who is Chairman of the French Accounting Standards Authority and author of a report on non-financial reporting by companies on their social and environmental performance. The Commission members comprise representatives of companies supervised by the ACPR or their professional federations, members of the academic community, and representatives chosen from associations or think tanks active in the field covered by the Commission. All members are appointed in a personal capacity for a renewable three-year term. The ACPR said the main task of the Commission will be to advise it on how banks and insurers can take account of sustainable finance objectives and to assess their uptake. It will also work to promote constructive sustainable finance dialogue with all stakeholders in the financial marketplace. The ACPR Commission will work with its sister AMF (Financial Markets Authority) Commission to help define methods for measuring and communicating ESG and climate commitments and to ensure that they are comparable and are monitored over the long term. It will also contribute to the drafting of an annual report on progress.List of appointed members

• Chairman: Patrick de CAMBOURG (member of the ACPR College, Chairman of the French Accounting Standards Authority)

• Véronique ANDRIEUX, WWF France

• Nathalie AUFAUVRE, Banque de France, NGFS

• Patrick BADER, French Banking Federation

• Valérie BOMPARD, Groupe VyV

• Michel CARDONA, I4CE

• Anna CRETI, Université Paris Dauphine

• Patricia CRIFO, École Polytechnique

• Louis DOUADY, Natixis

• Sophie ELKRIEF, MAIF

• Catherine GALVEZ, Crédit Agricole SA

• Christian GOLLIER, Toulouse School of Economics

• Alain GRANDJEAN, Nicolas Hulot Foundation

• Fanny HENRIET, CNRS – École Polytechnique – ENS

• Sylvie LEMMET, French Court of Auditors

• Antoine de SALINS, I-Care

• Franck RONCEY, BNP Paribas

• Christine TARRAL, French Insurance Federation

• Sylvain VANSTON, AXA

• Julie ANSIDEI, AMF