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05 April 2024

Climate and Sustainable Finance Commission

The Climate and Sustainable Finance Commission was set up by the AMF on 2 July 2019 and brings stakeholders together on the issue of sustainable finance. 

The AMF’s commitment to sustainable finance

In the framework of our strategic guidelines "Impact 2027", promoting a more sustainable finance is one of the AMF’s  thematic priorities. As of 2018, the AMF made sustainable finance one of its priorities, adding to its #Supervision2022 strategic plan a dedicated roadmap stressing the regulator's role in accompanying and supervising market participants (issuers, fund managers, distributors). This effort enabled the AMF and the French marketplace to take the lead in this field, which corresponds to a major expectation of investors, and of society as a whole.

Objective: mobilise expertise and work together on these challenges

Accounting for the effects of climate change and other environmental and social risks on economic models requires the mobilisation of a wide range of expertise. It affects corporate strategies and therefore requires a close dialogue between issuers and investors. It also affects the convictions and preferences of investors, both institutional and retail. It is essential to further develop the methodologies and information available, to ensure that trust is preserved, notably with regard to greenwashing risks, and to assess the real effects, in particular in terms of reallocation of capital flows.

In this context, in July 2019, the AMF announced the creation of a Climate and Sustainable Finance Commission dedicated to these cross-cutting themes and bringing together stakeholders on the subject of sustainable finance.


Climate and Sustainable Finance Commission: role, members and functioning


This commission provides expertise and a forum for dialogue that should contribute to the development of sustainable finance. This Commission collaborates with the Commission of the Autorité de Contrôle Prudentiel et de Résolution (ACPR) regarding common issues. In particular, the two Commissions work together to monitor climate-related commitments announced by institutions of the Paris marketplace.

The Climate and Sustainable Finance Commission is responsible for:   

  • providing technical expertise and insights into changes in the market and practices as well as ESG-related innovations and new emerging challenges ;
  • comparing the views of the various stakeholders on the financial sector's response to climate risk and, more generally, the contribution of finance to environmental, social and societal issues and to sustainable development ;
  • contributing to work related to the development of national or European regulations within the AMF's remit, as well as to international discussions in this field, and assisting in the implementation of texts ;
  • sharing good practice in terms of communication and transparency ;
  • providing opinions on draft AMF reports or guides on sustainable finance, draft ;
  • regulatory texts for which the AMF is responsible or on which the Board's opinion is sought and proposals for changes in the AMF’s doctrine on the subject (positions or recommendations).


The Climate and Sustainable Finance Commission is chaired by a member of the AMF Board. Its composition aims to ensure a balance and a fair representation of the different categories of actors.

Its membership reflects the various segments of financial markets, civil society and academia.  Members are appointed intuitu personae by the AMF Board for a renewable three-year term. They commit to an active presence and a personal contribution in order to further collective work. They may also act as "rapporteurs" where necessary.

The Climate and Sustainable Finance Commission meets once a month. A representative of the Treasury Directorate is invited to each of meeting of the Commission.

How it functions

The Commission may create dedicated working groups chaired by one of its members. If necessary, they may bring experts who are not members of the Commission. This work may result in publications that are used by the AMF, if necessary. The Commission may invite external experts to participate in its meetings. It may also alert the AMF Board to issues of concern related to its field of analysis.

A charter regulates the Commission’s governance and operating rules. It lays down the rules governing the adoption of opinions or conclusions, attendance, conflicts of interest, confidentiality and the personal contribution of members. Members of the Commission will receive no remuneration. Meetings, working documents and advice given to the AMF board are confidential.

Composition of the Climate and Sustainable Finance Commission

Members of the Commission

The membership of the Sustainable Finance Commission reflects the various segments of the financial markets (issuers, asset managers, institutional investors, corporate and investment banking, non-financial rating agencies, data providers), civil society and academia.

  • Chair: Marie-Pierre Peillon
  • Vice-Chair: Jérôme Bascher
  • Laurent Adoult, Crédit Agricole CIB
  • Emilie Béral
  • Pervenche Berès, Association Europe - Finances - Régulations (AEFR)
  • Claire Bottineau, ELIS
  • Helena Charrier, La Banque Postale AM
  • Hugues Chenet, IÉSEG School of Management
  • Fiona Cloarec, Groupe Michelin
  • Emmanuel de la Ville, EthiFinance
  • Eric Dodemand, ministère de la Transition écologique et de la cohésion des territoires
  • Léa Dunant-Chatellet, DNCA Finance
  • Eric Duvaud, ANC
  • Julie Evain, I4CE
  • Mathieu Garnero, ADEME
  • Marjolaine Grisard, Nexity
  • Michael Herskovich, BNP Paribas AM
  • Bertille Knuckey, Sycomore AM
  • Michèle Lacroix, SCOR
  • Véronique Menou-Lieblich, MSCI
  • Nicolas Mottis, Ecole Polytechnique
  • Stéphane Pasquier, BPCE
  • Julien Rivals, Deloitte
  • Gregory Schneider Maunoury, Defis Impact
  • Paul Schreiber, Reclaim Finance
  • Ladislas Smia, MBO & Co
  • Stéphane Voisin, Institut Louis Bachelier
  • ACPR 
  • A representative of the Treasury Directorate is invited to each of meeting of the Commission.