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In addition to major political initiatives such as the signature of the Paris Agreement in 2015 and the publication of the European Commission’s sustainable finance action plan last March, several developments have played a role in shifting the perceptions and practices of the financial community over the past few years. Increased awareness of climate risk, the growing consensus recognising that environmental, social and governance (ESG) factors influence the performance of investment portfolios, and the rapid growth of responsible investing and the green bond market are a few examples of this transformation.
In a context where the emergence of a financial model that better incorporates sustainability issues appears to be an underlying market trend at many levels - from firms to asset managers and investors - the regulator will focus on several priorities:
As further proof of its commitment, the AMF is announcing the creation of a new Strategy and Sustainable Finance Unit led by Julie Ansidei, Secretary of the Executive Committee. This unit will draw on a multidisciplinary task force from various AMF departments in order to implement this roadmap transversely.
“The financing needs to ensure the transition to an economic model that protects our environment are vast. If the financial industry does not demonstrate its usefulness in ensuring this transition, it will miss an opportunity to regain the trust of our fellow European citizens. The regulator has an important role to play in supporting and encouraging this development, whilst ensuring that the conditions for confidence are preserved,” said AMF Chairman Robert Ophèle.