AFG Fully Supports the Development of SRI and CSR
- AFG decided very early on to fully support the development of responsible investment in France.
- This involvement fits into the larger context of its promotion of long-term savings (savings invested in equity, employee savings and pension savings plans, etc.) and asset quality (corporate governance, etc.), which contribute to the proper financing of our economy and the protection of citizens against risks.
- French asset management companies are fully committed to this approach and are adapting their offering to the concerns of their institutional and private investors by proposing products that entail varying degrees and types of commitment – SRI (Socially Responsible Investment) funds, integration of ESG criteria (Environmental, Social and Governance) , shareholder engagement, thematic investing and so on – and have in common respect for the values of sustainable development.
- Asset management professionals have also joined forces to meet their clients’ expectations and comply with the new statutory provisions on the financing of the energy transition.
« SRI (Socially Responsible Investment) is an investment which aims to reconcile economic performance with social and environmental impact by funding companies and public institutions that contribute to sustainable development regardless of their business sector. By influencing governance and corporate behaviour, SRI contributes to a responsible economy. »
(AFG – FIR- Forum for Responsible Investment, July 2013)
Following the initiatives undertaken by the profession and bolstered by those of the marketplace, the SRI label, which is supported by the public authorities, was announced by Michel Sapin, Minister of Finance and Public Accounts, during Socially Responsible Investment Week in September 2015.
The label aims to give savers better insight into SRI products by ensuring that the management of these products is based on sound methodologies with a requirement of strong transparency and quality information.
As at 30 June 2018, 143 funds managed by 30 asset management companies, for a total assets of more than 39 € bn, received the SRI label.
AFG promotes the SRI label alongside the FIR.
AFG’s commitment focuses on the following areas:
- Permanent RI committee chaired by Marie-Pierre Peillon and working groups (SRI label, ESG indicators, ESG integration, Energy Transition act, etc.)
- Member of the CSR National Platform
- Leading role in the creation, development and work of the Observatoire de la Responsabilité Sociétale des Entreprises (ORSE)
- Dialogue with stakeholders (national employers’ federation – MEDEF, Paris Europlace, ORSE, inter-trade unions committee for employee savings plan – CIES, FIR, etc.)
- Responses to European Commission consultations and participation in the European Fund and Asset Management Association (EFAMA) “Responsible Investment working group”
- Member of Finance for tomorrow: How can Paris contribute to a more sustainable future?
- Integration of SRI into AFG’s professional training programme (PRAM, seminars, etc.)
- Operation with French authorities on application of the Grenelle II and Energy Transition acts, and on the labels supported by the public authorities
SRI Transparency Code
SRI Transparency Code Development of the European “Transparency Code” for SRI funds open to the public in association with the Forum for Responsible Investment (FIR) and Eurosif (European Sustainable Investment Forum), updated in 2013. At the end of october 2017, 343 funds
managed by 50 asset management companies subscribed to the Code.
Portfolio carbon footprint methodology
- Portfolio Carbon Footprint Methodology – Transparency principles for asset management companies
Research chair “Finance Durable and Investissement Responsible” (FDIR)
- The research chair Chaire Finance durable et investissement responsable (FDIR), was created in 2007, and is co-directed by Sébastien Pouget (Université Toulouse 1 Capitole, IDEI-TSE and IAE) and Patricia Crifo (Department of Economics at the Ecole polytechnique). It is backed by the competencies of a highly-qualified team of researchers that benefits from an international reputation.
- Professional Guide on Sustainability Bonds – Obligations durables ou Sustainability Bonds Caractéristiques minimales et bonnes pratiques recommandées pour les Fonds ISR (In French)
- Guide Professionnel : Application de l’article 173 aux sociétés de gestion – Bonnes pratiques et recommandations – Février 2018 (In French)
- Guide professionnel sur l’Article 173 de la Loi Transition Energétique (In French)
- Survey on “climate solutions” proposed by asset management companies to their clients, institutional investors and individual savers