France is launching its second international climate-related reporting awards for investors following its first in 2016, with backing from Brune Poirson, the country’s Minister of State to the Minister for the Ecological and Inclusive Transition.
The awards, which aim to build on the work of the European Commission’s Sustainable Finance Action Plan as well as other governmental and international reporting initiatives, will be presented in September. They are jointly-organised by ADEME, the French Environment and Energy Management Agency, alongside the French Ministry, with support from EUROSIF, the European Commission DG FISMA and 2° Investing Initiative.
The awards assess four main thematic areas:
- Climate-related integration into overall strategy, governance and engagement practices.
- Climate risk exposure assessment and risk management.
- Alignment and contribution to the Paris Agreement Goals.
- Climate-related communication plan to clients and beneficiaries.
A public consultation on the awards criteria is being finalised with a deadline of May 8th at midnight.
Feedback to the consultation can be made by answering a questionnaire, with possibilities to respond in English, French or Spanish.The Awards were first put together in 2016 and backed at the time by Ségolène Royal, France’s former Minister of Ecology, Sustainable Development and Energy. In 2016 French insurer, Axa, and The Pensions Trust in the UK won the gongs for the two best investors for climate reporting in the ‘Best Overall Reporting Award’.
Link to RI’s coverage
The UK’s Environment Agency Pension Fund won the Best Reporting Award for the assessment of Climate Risk, while Ircantec and AustralianEthical shared top spot for reporting on their alignment with climate goals. Actiam was named number one for reporting on the integration of climate into investor strategy, and Local Government Super was recognised for its reporting around engagement work.
The 2019 awards will be judged by an independent jury which includes ADEME’s CEO Arnaud Leroy, Laurence Monnoyer-Smith, the CGDD General Commissioner, FISMA’s Director General Olivier Guersent, and Eurosif’s Chairman Will Oulton. Leroy at ADEME said: “The 2019 Awards will build on the ongoing work of the European Commission and will seek to recognise a number of recent developments in climate-related reporting, including Article 173 in France, the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), the EU Non-Financial Reporting Directive, as well as the significant wider European and global national reporting requirements.”