Posted 29Jul. 2022 at 6:30 amUpdated on Jul 29, 2022 at 7:55 am
Defenders of a more demanding SRI label won their case. Initially opposed to the measure, the committee that oversees French socially responsible investment (SRI) funds is finally open to the prohibition of certain controversial activities in labeled funds.
“We plan to propose excluding coal and unconventional energies, namely gas and shale oil, from the SRI label”, announces to “Echos” Michèle Pappalardo, the president of the label committee. Entirely renewed last year, the body’s mission is to reform this state certification, which brings together 1,000 funds from 170 management companies, with a total outstanding amount of 650 billion euros.