Article 29 of the Energy and Climate Law

Country / jurisdiction: France · Year: 2019 · Status: In force · Level: National · Type: Voluntary

This law, outlined in Article 29, introduces modifications to various sections of the French legal code. It extends the application of Article L. 533-22-1 of the Monetary and Financial Code to certain entities, including insurance companies, supplementary professional retirement funds, credit institutions, investment firms, the Caisse des dépôts et consignations and others.

Article L. 533-22-1 establishes requirements for portfolio management companies regarding sustainability risk policies. These companies must disclose information on risks related to climate change and biodiversity in their publicly disclosed sustainability risk policies. They are also required to provide documents outlining their strategies for considering environmental, social and governance criteria in their investment strategies, contributing to energy and ecological transition. The law specifies the content and presentation of these documents and outlines reporting obligations, particularly regarding climate change contributions.

Additionally, entities subject to Article L. 533-22-1 must include information on their sustainability policies in their non-financial performance statements. The effective date of these modifications is tied to the application date of a specific European Parliament and Council regulation on the publication of information related to sustainable investments and sustainability risks.

Official source: https://www.legifrance.gouv.fr/jorf/article_jo/JORFARTI000039355992