French Monetary and Financial Code
In forceI.-In their sustainability risk policy, made public pursuant to Article 3 of the Regulation of the European Parliament and of the Council on the publication of sustainable investment and sustainability risk information and amending Directive (EU) 2016/2341, portfolio management companies shall include information on the risks associated with climate change as well as biodiversity risks.
II.-Portfolio management companies shall make available to their subscribers and to the public a document setting out their policy on the inclusion in their investment strategy of environmental, social and governance quality criteria and the means implemented to contribute to the energy and ecological transition, as well as a strategy for implementing this policy. They specify the criteria and methodologies used and how they are applied. They also indicate how the voting rights attached to the financial instruments resulting from these choices are exercised.
A decree specifies the presentation of this policy and its implementation strategy, the information to be provided and the procedures for updating it, depending on whether or not the entities exceed the thresholds defined by this same decree. This information relates in particular to the fight against climate change. In particular, it concerns the level of investment in climate protection and the contribution to meeting the international objective of limiting global warming and achieving the objectives of the energy and ecological transition. This contribution is assessed in particular with regard to indicative targets defined, depending on the nature of their activities and the type of their investments, in accordance with the national low-carbon strategy referred to in Article L. 222-1 B of the Environment Code. Where applicable, the entities shall explain the reasons why their contribution is below these indicative targets.
If the entities choose not to publish certain information, they shall justify the reasons.
III - Where portfolio management companies draw up a non-financial performance statement pursuant toArticle L. 225-102-1 of the Commercial Code, this statement shall include information on the implementation of the policy mentioned in II of this Article and on the implementation of the policies whose publication is provided for by the Regulation of the European Parliament and of the Council mentioned in I of this Article.
