The Banque de France unveiled on Tuesday the creation of a climate change center to better coordinate its actions in favor of the environment.
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“
We thought we had to take our organization up a notch
,” Nathalie Aufauvre, director general of financial stability and operations at the Banque de France, who will chair this center, explained at a press conference.
Fifteen collaborators
Operational from April 1 and endowed with a team of about fifteen people, its mission will be to "
continue all the analytical and research work
" on the climate, "to
coordinate
" all the actions related to it, and ensure the continuation of the permanent NGFS secretariat, a group of central banks and supervisors who are committed to the climate issue.
The Banque de France also took stock Tuesday on its so-called "
responsible
"
investments
.
At the end of 2020, the equity portfolio of the equity portfolio was aligned with the trajectory of a maximum global warming of 2 ° C by 2100 compared to the end of the 19th century, and the portfolio dedicated to commitments retirement must be by the end of 2022 at the latest, the institution said.
These two portfolios are those over which the Banque de France has total latitude, and represent 23 billion euros in assets.
The central bank has also invested 1.5 billion euros in green bonds and excluded 20% of issuers of shares on environmental, social or governance criteria.
Finally, the Banque de France adopted a voting policy at the end of 2019, incorporating extra-financial criteria.
In 2020, it included in it two provisions: the complete exit from the coal sector at the end of 2024 and the opposition to any new fossil fuel development project.
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"
The Banque de France will not be able to approve the accounts of companies that do not meet these two requirements
", she argued in her report on the subject.
