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The Banque de France and I4CE are forming a partnership with the objective of enhancing the consideration of climate risks and opportunities by the financial sector. This partnership aims to facilitate the exchange of expertise between the two institutions, and more generally the interactions between researchers, financial sector actors, and public authorities. It will also support the work of the Banque de France within the Central Banks and Supervisors Network for Greening the Financial System (NGFS) that it launched at the One Planet Summit in December 2017.

As a first step in this partnership, Michel Cardona, previously Deputy Secretary General of the Banque de France, has joined I4CE.

I4CE is proud of this partnership, which provides further proof that the climate is becoming a central issue for all actors in the financial system, and that the Banque de France has a strong desire to be at the forefront of this transformation. It is also an acknowledgment of the quality of I4CE’s expertise, and an opportunity to work with all central banks and supervisors grouped within the NGFS.

About Michel Cardona

Michel Cardona joined the Banque de France in 1981 following the completion of his studies, becoming Deputy Secretary General in 2010. He started as Bank Controller at the General Secretariat of the Banking Commission (SGCB), before joining the Inspection Department of the former French Security and Exchange Commission between 1988 and 1990. He then returned to the SGCB in the field of banking studies and regulation. In 1996 he was seconded for three years as a financial expert at the World Bank in Washington. On his return to the Banque de France in 1999, he held various positions in the areas of financial stability and international and European relations before being appointed Deputy Director General for Studies and International Relations in 2006, then Secretary General of the Committee of Credit Institutions and Investment Firms (CECEI) and Secretary General of the Advisory Committee on Financial Legislation and Regulation (CCLRF) in 2008. Michel Cardona is a graduate of the Institute of Political Studies in Paris and holds a Diploma of Advanced Studies (DEA) in Macroeconomics from Paris I University – Panthéon Sorbonne.

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