Article 29 of the French Energy and Climate Act
The obligation on French institutional investors, insurers included, to publish their climate and biodiversity exposure under a prescribed framework.
Article 29 of Law no. 2019-1147 of 8 November 2019, fleshed out by Decree no. 2021-663 of 27 May 2021: French institutional investors, insurers and mutuals above an assets threshold included, must report every year on how they take environmental, social and governance criteria into account. The text asks more than most of its European counterparts. It requires a Paris-alignment strategy with quantified targets on a set horizon, a separate biodiversity strategy (a topic most frameworks skipped) and the share of assets aligned with the EU Taxonomy. It replaced Article 173 of the 2015 energy transition act, the first law anywhere to mandate this kind of disclosure, which nonetheless left the format open, so reports could not be compared. The prescribed template fixes exactly that, since disclosure nobody can benchmark puts pressure on nobody.
Article 29 of Law no. 2019-1147 of 8 November 2019, as detailed by Decree no. 2021-663 of 27 May 2021, requires French institutional investors to publish, every year, a Paris Agreement alignment strategy and a separate biodiversity strategy.
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