With the Greenfin label, the French government recognizes financial investments that contribute directly to the energy and ecological transition. AFNOR Certification is one of the bodies accredited by COFRAC to deliver this label to investment funds that meet these rigorous criteria.
Encouraging the energy and ecological transition
Formerly the TEEC (Transition Énergétique et Écologique pour le Climat) label, the GREENFIN label emanates from the Ministry of Ecological Transition and Solidarity, which brought it to the baptismal font in the wake of the French Law on Energy Transition for Green Growth (LTECV) of August 2015. It is based on 4 main criteria:
- Business sector. Only 8 categories of activity are eligible for this label: energy, construction, waste management, industry, clean transport, information and communication technologies, adaptation to climate change and agriculture and forestry.
- Exclusions. Certain activities that are incompatible with the notion of energy and ecological transition, or that are controversial, are excluded from approved funds, such as the nuclear industry and fossil fuel exploration.
- Taking ESG criteria into account. Investment funds must actively monitor environmental (E), social (S) and governance (G) issues throughout the life of their portfolios.
- The positive impact on the energy and ecological transition. Candidate funds must have put in place a mechanism to measure the effective contribution of their investments to the energy and ecological transition, and be able to provide proof of their actions.
Investment funds recognized by this government label enjoy immediate visibility in the eyes of savers keen to make a difference with their money.
