The Banque de France announced on Monday a tightening of its investment policy vis-à-vis coal-related companies, which should result in a definitive exclusion from this sector in 2024.
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Since 2018, the Banque de France has implemented a responsible investment approach on its own investments (22 billion euros).
In this context, it already excluded companies extracting coal or producing coal-based energy of which more than 20% of turnover is linked to thermal coal.
But in practice, the monetary institution already excludes any company whose coal represents more than 10% of its turnover and "
this threshold will be lowered to 2% at the end of 2021 before being reduced to 0% at the end of 2024
", promises -she in a press release.
With regard to the oil and gas sector, the Banque de France will also initiate "
an exit from unconventional hydrocarbons from 2021
", he added.
In doing so, the central bank will exclude from its investments companies whose activities of oil and shale gas, tar sands and / or exploration in the arctic and deep waters, represent more than 10% of their turnover.
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The institution also plans to adopt for 2024 an exclusion of all companies whose oil represents more than 10% of turnover or 50% for gas.
Finally, the Banque de France announces that from 2021, it will introduce into its voting policy a criterion aimed at ensuring that the companies in which it has invested do not initiate new projects in the field of fossil fuel development. .
