Greenfin
The Greenfin label targets financial players acting in line with energy and climate transition goals and assures investors of the "green" quality of investment funds.
Summary data :
| label | ID | Topic | Description | Mode | Enabled | Order |
|---|---|---|---|---|---|---|
| Greenfin | 8 | Label | Greenfin | t | 1 | 1 |
| Greenfin | 8 | Nationality | France - French/English | t | 1 | 3 |
| Greenfin | 8 | Management | Label issued by the French Ministry of Ecological Transition | t | 1 | 4 |
| Greenfin | 8 | Label Type | Thematic | t | 1 | 5 |
| Greenfin | 8 | Website | https://www.ecologie.gouv.fr/label-greenfin | t | 1 | 7 |
| Greenfin | 8 | Market | The label targets mutual funds for sale in the French market | t | 1 | 8 |
| Greenfin | 8 | Products | 124 funds and products as of September 2024 | t | 1 | 9 |
| Greenfin | 8 | Criteria | https://www.ecologie.gouv.fr/sites/default/files/Codes%20ISIN.xlsx | t | 1 | 15 |
| Greenfin | 8 | Periodicity | annual | t | 1 | 21 |
Analytical data :
| label | ID | Topic | Description | Mode | Enabled | Order |
|---|---|---|---|---|---|---|
| Greenfin | 8 | Description | The Greenfin label targets financial players who act in the service of the common good with the aim of facilitating the energy and climate transition and assures investors of the "green" quality of investment funds. | d | 1 | 6 |
| Greenfin | 8 | Genesis and development | Greenfin is the first state Label dedicated to green finance; it was launched in late 2015 at COP 21. It replaces the former "Energy and Ecological Climate Transition" label and is based on a December 2015 published decree and ordinance that officially created the label and defined its regulations and monitoring procedures | d | 1 | 11 |
| Greenfin | 8 | Goals | Greenfin aims to mobilize some of the savings for the benefit of the energy and ecological transition; it ensures the green quality of investment funds and is aimed at financial actors acting in favor of the ecological and energy transition through transparent and sustainable practices | d | 1 | 12 |
| Greenfin | 8 | Promoters and administrators | The French public authorities own the label (trademark, standards of use, and reference system) and approve development proposals submitted by the Greenfin Label Committee (chaired by the ministry and composed of representatives of all stakeholders, including representatives of consumer associations), which is also responsible for managing the entire system and ensuring that the labeling process functions properly and is developed. Certification is then issued not directly by the Committee, but by the "Labeler," and Novethic, EY France, and Afnor have been designated as the bodies responsible for issuing the Greenfin label. | d | 1 | 13 |
| Greenfin | 8 | SRI Approach | Funds to qualify for the label must demonstrate that they have a thematic approach focused on the 8 categories of assets that fall under the umbrella of energy and ecological transition and climate change ("eco-assets") listed by Greenfin, as well as have a policy of excluding fossil fuels and nuclear power. It will also be necessary for the fund to have a method of assessing the impact of its investments toward the ecological transition and to be able to address ESG controversies | d | 1 | 14 |
| Greenfin | 8 | Mandatory Criteria | The minimum criteria to be met in order to obtain the label include: exclusion criteria for economic activities that are contrary to the energy and ecological transition or are currently controversial (mainly related to fossil fuels and nuclear energy), a Thematic Approach strategy focused on "Eco-activities" ( 8 categories of activities related to energy and ecological transition and combating climate change: Energy, Construction, Waste, Industry, Clean Transportation, Telecommunications, Agriculture, and Climate Change), a Best in Class approach for evaluating its investments, a methodology for assessing the impact its investments are having in terms of ecological transition, and a structure that can address ESG controversies | d | 1 | 16 |
| Greenfin | 8 | Additional criteria | There are no additional criteria | d | 1 | 17 |
| Greenfin | 8 | Allocation process | Society who wish to obtain certification must send their application to one of the labeling bodies and provide information on the nature and composition of Portfolio, as well as the management and internal control rules applied so that an initial analysis can be carried out. Following the initial analysis, an actual audit process will be carried out by the Labeler to determine whether the fund meets the necessary requirements. The decision to award the Greenfin label is made independently by the labeling body, based on the audit report | d | 1 | 20 |
| Greenfin | 8 | External certification | The Greenfin label is granted for a renewable period of one year. During the one-year period, interim audits are scheduled to verify that the fund always meets the requirements of the label over time | d | 1 | 22 |
| Greenfin | 8 | Focus on transparency | You will need to make available to Greenfin your sustainability strategy and an evolution of it over the past three years; have transparent financial management (limit the use of derivative financial instruments). The required transparency obligation is only to Greenfin and not to all investors | d | 1 | 23 |
| Greenfin | 8 | Focus on periodic checks | Compliance with the criteria is monitored both at the end of the annual labeling period and through interim audits carried out by the labeling agency | d | 1 | 24 |
| Greenfin | 8 | Related parties | The label has outsourced the labeling and labeling process to external entities that are responsible for issuing the Greenfin label. To date, EY France, Novethic and Afnor Certification are the designated entities for the labeling process | d | 1 | 25 |
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