Among the top focus areas identified by the regulator were the development of sustainability reporting standards and protecting investors against greenwashing risks. The plans align with the AMF’s responsibilities set out in the PACTE Law (Plan d’Action pour la Croissance et la Transformation des Entreprises), making it accountable for ensuring companies manage risks related to the effects of climate change.
As part of the focus on sustainable finance, the AMF indicated the following strategic goals for 2022:
- Support issuers in implementation of the European taxonomy and contribute to the development of corporate sustainability reporting standards
- Ensure the effectiveness and credibility of the financial market transition and support marketplace efforts to fund the transition to a carbon-neutral economy; and
- Promote the development of appropriate labels and standards which is essential to provide greater clarity, transparency and coherence for sustainable finance markets associated with labels and standards on financial products.
The AMF further referenced its March 2020 guidance on minimum standards for funds stressing ESG characteristics for retail clients, with further work recommended at European level to introduce minimum sustainability criteria for financial products which come under Articles 8 (products promoting environmental or social characteristics) and 9 (products having sustainable investment as their objective) of the SFDR.
To find out more about how Apex Group’s ESG and Global Compliance services can help you adapt to a changing market, contact our team.
