[PDF] article 173 vi france

What is article 173-vi?

Article 173 – Article 173-VI, to be precise – is often identified as an example of France’s leadership in sustainable finance – the voluntary reporting framework developed by the Task Force on Climate-related Financial Disclosures, was only published in June 2017.

Does article 173 apply to French asset owners?

At the same time, however, investors do not have to explain why they might not fulfil all disclosure requirements under Article 173. According to Novethic, many French asset owners assume that Article 173’s obligations do not apply to them, with 27 out of the 100 asset owners covered by its study not responding to the call.

How will Article 173 affect COP21?

The requirements of Article 173 can be seen as the results of discussions and enthusiasm for action across the country, with COP21 providing a focus and a deadline. The law is expected to cause more analysis of climate risk and more reporting about exposure levels by investors.

How many rounds of annual reporting have there been since Article 173?

There have been two rounds of annual reporting since Article 173 was introduced, and implementation has been closely followed by some organisations. Novethic, a subsidiary of the state-owned Caisse des Dépôts investment group, is one such organisation, having surveyed investors’ reporting in 2017 and 2018.