Label Relance

Label Relance should allow savers to easily identify funds that invest in French-based Society that contribute to the recovery of the post-COVID economy while applying certain ESG criteria



Label Label Relance
Nationality France - French
Management The Label is issued by the French Treasury's Directorate-General to reward Society that invests in boosting the economy
Label type thematic
Market The label only applies to Society that have their registered office in France.
Products 218 funds at the end of June 2022
Links to funds
Periodicity 4 years with verification of requirements every 6 months

Detailed data

Description Label Relance should allow savers to easily identify funds that invest in Society based in France and contribute to the recovery of the post-COVID economy while applying certain ESG criteria
Genesis and development The label was created in October 2020 at the initiative of the Minister for the Economy, Finance and Recovery, in consultation with the associations and federations of the financial sector, businesses and savers, with the aim of facilitating post-coupled recovery and making funds that actively participate in supporting the economy recognisable to savers.
Objectives Label Relance aims to make it easy to recognise investment funds capable of rapidly mobilising new resources to support the assets and equity of French companies, and to enable savers to easily identify investments that meet the needs of companies, thereby encouraging their mobilisation for recovery.
Promoters and administrators The label is administered by the "Relance" brand supervisory body, a transversal committee that brings together all the trade associations of the financial sector, and is responsible for reviewing the labelling process and coordinating the actions of the control body, administered by the Treasury Directorate General, which monitors the compliance of labelled funds over time.
SRI approach To qualify for the Relance label, the fund must meet the label's financial criteria (choose one of the two investment regimes under the label), and take into account ESG factors, including the exclusion of carbon-related activities, social commitments to employment and employees, and a strong approach to inclusion, best-practice governance and gender equality.
Mandatory Criteria The minimum criteria that funds must meet to obtain the label are divided into investment criteria (allocation of the fund's assets to support the financing of the French economy) and ESG criteria : an ESG supervision system at the level of the Society management company and a multi-year development plan is mandatory, the ESG rating of at least 75% of the fund's Portfolio and the exclusion of Society engaged in coal-related activities, and can verify that holdings in Portfolio implement social measures in favour of employees (interest, fair salary plans) and have governance structures based on gender equality and best practice. There are also forms of recognition of other French labels (Label SRI, Greenfin, Finansol), and an obligation to comply with the transparency standards issued by the AMF in 2020 regarding ESG.
Additional criteria The optional criteria emphasised by the Ministry are Engagement (voting at the annual general meetings and dialogue with Society at Portfolio), and a strengthened approach to environmental issues (issues related to the ecological and energy transition typical of the Greenfin Label are particularly encouraged). The Label also demands from funds investing in listed shares a commitment to materially participate in at least five capital increases each year.
Allocation process In order to obtain the label, you must contact the Supervisory Board by e-mail, filling in the appropriate application form and adding the fund's regulatory documentation, the key information document, any additional documents relating to the ESG policy and any other document you consider useful for the examination of your file. The Label is granted after a full review by the Supervisory Board, which decides and notifies in writing the right to use the label for the next 4 years.
External certification The label is initially granted for a period of 4 years, and then verified after six-monthly reporting. The Treasury, in case of doubts, initiates a control process and reserves the right to remove the right to use the label if the minimum requirements are not met.
Focus on transparency Funds will have to publish information on their website every six months on their holdings, the percentage of Portfolio invested in French Society , the type of assets held and the ESG criteria used (ratings, indicators used) in line with the AMF doctrine on non-financial instruments issued in 2020. The French Treasury Ministry publishes the list of labelled funds on a monthly basis.
Focus on periodic checks The supervisory body of the "Relance" label ensures that certified collective investment undertakings comply with the commitments set out in the Charter. The right to use the "Relance" label may be withdrawn if the supervisory body identifies serious violations of the Charter's requirements without remedying them within a reasonable period of time.
Related parties The 'Relance' brand has been created and is coordinated by the main trade associations of the financial sector in France, which guarantee its credibility: the French Association of Financial Management (AFG), France Invest, the French Insurance Federation (FBF), the Fédération French Bank (FBF ), the National Association of Financial Advisers (ANACOFI), the National Chamber of Asset Management Consulting (CNCGP), the French Savings and Retirement Association (AFER), the French Federation of Associations of Employed and Formerly Employed Shareholders (FAS), the Federation of Independent Associations for the Defence of Retired Savers (FAIDER) and the Federation of Institutional Investors and Investment Clubs (F2IC)