Decree no. 2015-1850

Abstract

decree implementing article 173-vi of the french law for the energy transition c h a l l e n g e s a n d f i r s t r e c o m m e n d a t i o n s contribution to the transition ghg emissions associated with financial assets financial risks you are here august 2015 b r i e f i n g n o t e r e a l i s e d a s p a r t o f t h e a c t i o n s f i n a n c e d b y : european union h2020 - grant agreement no 649982 summary in july 2015, france strengthened mandatory climate disclosure requirements for listed companies and introduced the first mandatory requirements for institutional investors as part of article 173 of the law for the energy transition and green growth. the french treasury is currently designing the implementation decree for the article. this note constitutes a first analysis of the law’s implications for institutional investors and a perspective on related options for the implementation decree. given both the innovative nature of the article and the evolving landscape of climate accounting methods, several key disclosure elements face significant implementation questions. we identify four key elements of the law’s disclosure requirements facing technical and interpretation challenges: investment policies, the exposure to climate-related risks, the ghg emissions associated with financial assets, and the alignment of portfolios with the energy and ecological transition. with the exception of disclosure on investment policies, each of the key elements could be …

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