To mark the 5th edition of Climate Finance Day, a conference to be held on November 29 in Paris, the French Banking Federation is publishing a manifesto that reasserts the commitment of French banks to the ecological transition and confirms their determination to speed up their actions in favor of a low-carbon, inclusive and ecological economy.
This manifesto was signed by the six members of the FBF Executive Committee, including Laurent Mignon for Groupe BPCE.
The commitment of French banks to financing the renewable sector alone reached more than 37 billion euros in 2018, representing growth of 41% in the space of two years. Their shared desire is to speed up the pace of this commitment even further. Although, compared to their international competitors, they are already at the forefront of the development of green finance on a global scale, French banks are still acutely aware of the progress that must still be made.
The Climate Finance Day, an event sponsored by Natixis, is intended to boost international mobilization for financing the fight against climate change. The French Ministry of the Economy and Finance and Paris EUROPLACE, with its Finance for Tomorrow initiative, are organizing this new edition of Climate Finance Day, which will bring together international representatives from the financial industry, the regulatory and supervisory authorities, as well as public banks. It will highlight the most innovative initiatives to finance a fair transition toward a low-carbon economy and society.
Among the speakers, François Riahi, CEO of Natixis and a member of the BPCE Management Board, will present the functioning of the Green Weighting Factor, a new mechanism for allocating the capital of each financing operation according to its impact on the climate. With this powerful and highly operational tool, Natixis is aiming to ensure that its financing trajectory remains consistent with the objectives of the Paris Climate Agreement.