- This Transparency Code - FR(and the accompanying Guidance Document) is the French version of the European Transparency Code for retail SRI funds. These documents were created and approved by the AFG and the FIR. Per the 10 December 2009 decision pronounced by the AFG’s Board of Directors, all French retail SRI funds must adhere to this code.
- The Transparency Code for socially responsible investment (SRI) funds open to the public has been updated for the second time in February 2013.
- The updates were made by the French Asset Management Association (AFG), in association with Forum pour l’Investissement Responsable (FIR) and the European Sustainable Investment Forum (Eurosif) through a working group chaired by Paul de Marcellus, a member of the AFG’s SRI Commission and Vice-Chairman of the FIR. The new version of the code was approved by the AFG and FIR boards and confirmed at European level by Eurosif’s board.
- The aims of the Transparency Code have not changed:
- make SRI fund policies easier to understand and more transparent for investors and savers,
- enhance self-regulation by establishing a common, unifying set of best practices for transparency.
- The aims of the latest amendments are:
- simplify the code and make it easier to understand:
- reduce the number of questions
- merge the code and its user’s manual
- harmonise the answer format by recommending that company reports be between 10 and 30 pages.
- add question about any new financial instruments being used.
- ensure that management companies inform investors about the environmental, social and governance (ESG) criteria in their investment policies, in accordance with recent environmental legislation in France (Grenelle II Act). By signing up to the Transparency Code, companies will be in compliance with the legislation.
- The list of SRI funds which are signatories of the AFG-FIR Transparency Code is available upon request.
Last Updated on Monday, 30 March 2015 08:05