{"id":24808,"date":"2019-11-28T23:06:47","date_gmt":"2019-11-28T22:06:47","guid":{"rendered":"https:\/\/preprod.i4ce.org\/publication\/finance-fit-for-paris-3fp-results-and-scores-for-france\/"},"modified":"2022-07-15T21:52:17","modified_gmt":"2022-07-15T19:52:17","slug":"finance-fit-for-paris-3fp-results-and-scores-for-france","status":"publish","type":"publication","link":"https:\/\/www.i4ce.org\/en\/publication\/finance-fit-for-paris-3fp-results-and-scores-for-france\/","title":{"rendered":"Finance fit for Paris (3fP) – Results and scores for France"},"content":{"rendered":"

The global community needs to transform the world economy to become low-carbon and climate resilient. This is the commitment made by the international community in the Paris Climate Agreement. However, humanity needs to find a way to finance this goal. The European Commission estimates that a funding gap of at least EUR 180bn p.a. exist in the EU to achieve its 2030 climate targets.
\nGreen finance is emerging to close this funding gap. The European Union as well as its member states are changing financial market regulation, developing methodologies and restructuring the financial system in this process. This paper highlights key regulatory developments in Europe and provides ideas for further development of climate change aligned financial market regulation and is based on the assessment of the finance fit for Paris Tracker (3fP-Tracker<\/a>).
\nThe 3fP-Tracker assessment<\/a> was conducted by\u00a0 the Frankfurt school, I4CE and its partners for EU-level regulation, France, The Netherlands, Italy, Germany and Spain.<\/p>\n

\"\"<\/a><\/p>\n

Two papers summarize this evaluation and can be downloaded below: a synthesis paper on financial regulation in Europe, which highlights the main regulatory developments and proposes ideas for the future; and a synthesis paper on the evaluation results for France.<\/p>\n

Results and scores for France:<\/strong><\/p>\n

France was amongst the first to integrate climate consideration in its financial market regulation. With Article 173 of the French Energy Transition Law, France set a new global benchmark in 2015 and developed public green labels. Public bodies have taken up climate considerations as well, e.g. Banque de France has published the climate exposure of its own portfolios, sovereign Green bonds have been issued and the government provides a clear transition pathway within a Strategic plan. Highlights of the current update of country assessment include<\/p>\n