Mandate and functioning of the AMF's new Climate and Sustainable Finance Commission
On 2 July, in a joint release by the French authorities and the financial community, the Autorité des Marchés Financiers (AMF) announced the creation of a Climate and Sustainable Finance Commission to assist it in carrying out its missions on issues related to sustainable finance. Today, the regulator has clarified the mandate and functioning of this commission, which will contribute to the work carried out in conjunction with the Autorité de Contrôle Prudentiel (ACPR) to monitor and evaluate the commitments taken by financial institutions in climate matters.
The AMF has made sustainable finance a building block of its "#Supervision 2022" strategic plan. The objective is to change practices, increase transparency and facilitate the inclusion of sustainability issues and the mobilisation of capital to foster a sustainable economy. The creation of this Commission will strengthen the AMF's actions, which are organised around support for stakeholders and innovation (in particular to prepare for the regulatory changes set out in the European Commission's Action Plan for Sustainable Finance), and supervision.
On 2 July 2019, in a joint release by the French Ministry of Economy and Finance, the French supervisory authorities and the French financial community, the AMF announced the creation of a Climate and Sustainable Finance Commission which will contribute to the new mechanism for monitoring and evaluating the climate-related commitments of financial institutions.
This Commission will be chaired by Thierry Philipponnat, an AMF Board member.
In addition to contributing to the monitoring and evaluation of commitments, the committee will also be responsible for providing technical expertise and a forum for dialogue and work to promote the development of sustainable finance.
It will be made up of members selected for their expertise in climate risk and sustainable finance, who represent various market sectors as well as civil society. The composition of the Commission will be announced in September, when it begins its work.
About the AMF
The AMF is an independent public authority responsible for ensuring that savings invested in financial products are protected, that investors are provided with adequate information and supervising the orderly operation of markets. Visit our website https://www.amf-france.org
Press contact :
AMF Communication Directorate - Tel: +33 (0)1 5345 6025
On the same topic
