In the current climate emergency, companies are increasingly called to take responsibility. They must now report the proportion of their balance sheet invested in green funds, known as the green asset ratio. For its part, the Bank of France, in collaboration with the French Agency for the Environment and Energy (Ademe), is launching a climate assessment initiative for companies, reportedly. Echo. This new indicator will allow each company to better understand their exposure to climate risks and adjust their strategy accordingly.
Growing climate commitments
Governor Francois Villeroy de Gallo said that this project has no analogues in Europe. Announced by Economy Minister Bruno Le Maire, this climate rating has been entrusted to the Banque de France. The French Banking Federation (FBF) is also supporting this project, emphasizing that the “Climate Assessment” set by the Bank of France will complement the analysis carried out by the banks themselves.
Climate rating in the face of environmental challenges
The implementation of this climate rating is a project that is becoming increasingly important in the face of growing climate challenges, the impact of which is felt on business activity. Indeed, from 2024, the European Central Bank (ECB) will include climate risk exposure in its credit risk rating, according to Hervé Gonsard, CEO of Economic and Network Services at the Banque de France.
To ensure the development of this climate rating, a team of engineers was brought in to develop the methodology. This indicator, which will be free but not public (unlike rating agency indicators), will focus solely on climate aspects and therefore will not threaten private agencies that cover other aspects such as biodiversity and corporate social policy.