During the Paris Financial Centre meeting of 2 July 2019, chaired by Bruno Le Maire, the French Minister for Economic Affairs and Finance, French financial institutions made a series of commitments to combat climate change and reach the objective of carbon neutrality by 2050. On this occasion, the ACPR and the AMF announced the implementation of a framework for monitoring and assessing these commitments based on their Climate and Sustainable Finance Advisory Commissions (CCFD in French) encompassing, for the ACPR, the banking and insurance sectors and, for the AMF, those of asset management, market activities and issuers.

This joint report by the authorities reflects the initial work carried out in the context of the aforementioned monitoring and evaluation. This work was conducted on the basis of available public information and questionnaires sent to major market participants (9 banks, 17 insurers and 20 management companies), complemented by numerous bilateral exchanges and analyses based on data from both authorities.