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Is the data published by the actors controlled?
The ACPR and the AMF, in their capacity as supervisors of financial players in the Paris financial market, have been entrusted by the Government with the role of verifying the veracity and reality of the commitments made by financial players under the Market Declaration. This information will be published in their joint report.
The sectoral data is checked by the federations but is not audited.
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What's new in 2021, one year after its launch?
1/ For fiscal year 2021, several new features have been added to the collection and publication of the individual commitments section:
- A commitment guide has been developed in coordination with the in order to specify the expectations of the exercise, the rules for publishing commitments. Criteria have been defined to make individual commitments easier to read and compare.
- An analysis was carried out on all published commitments to determine their compliance with criteria for determining the proper structuring and completeness of information for a commitment.
- The individual commitments section has been enriched with the monitoring of commitments. The actors who have communicated a source of public follow-up on their commitments are identified on the site.
Finally, a reading grid is now available. This makes it easier to understand and analyze individual commitments by deciphering them through key indicators. The Reading Grid view will be improved for the next exercise.
As the wording of the commitments is very heterogeneous depending on the actors, this analysis through target indicators will improve the reading of the commitments.
A reading grid has been developed for each category of commitment. For the year 2021, the Observatory has proposed 18 reading grids, corresponding to the entire "Environment" classification (except for category 1.4 Shareholder engagement). For this exercise, the reading grids have been filled in by the Observatory's teams as exhaustively as possible with the information present in the individual commitments collected by the Observatory; additional information may be available in the public resources of each player.
2/ The Transformation of financial practices and flows section, which publishes data aggregated by financial activity, provides figures for the Paris financial center for the years 2021 and 2020. This data historization allows us to see the evolution of players, flows and practices over these first two years, and will be enriched over future years. Visual improvements have been made to the publication of the data, in order to improve the reading of the graphs and to bring an educational dimension to the tools.
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What indicators/data are used / How are they selected ?
The indicators are developed in coordination with supervisors, federations and professional associations. Working groups with financial actors have made it possible to refine the choice of indicators by selecting the most relevant data available to date.
The indicators will evolve over the years, for example by taking into account certain recommendations of the scientific and expert committee.
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What is the difference between your publications and those of the ACPR and the AMF?
The ACPR and the AMF, in their capacity as supervisors of the financial actors of the Paris financial market, have been entrusted with the role of monitoring and evaluating the commitments made by the financial actors. The ACPR and the AMF will publish an annual report on this work and provide an indication of the commitments made by the entities of the Paris financial market in favor of the climate and the conditions of their effective implementation.
On the other hand, the Observatory provides a collective vision of the commitments made. It brings together in a single place sectoral data on green and sustainable finance and the sustainable finance commitments of Paris financial market players.
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How does the data collection work?
Collection of aggregated data : The professional federations ensure the annual collection of the information necessary to feed the Observatory from their respective members. Finance for Tomorrow also collects commitments from its members who are not members of the partner professional federations.
Collection of individual commitments: the players who participated in the 2020 exercise were contacted again to update their commitments. More than 70 players were contacted directly by the Observatory team. The support of professional federations and associations made it possible to complete this collection with a call to their members who had not participated in the first collection. Webinars were organized to solicit new actors to join the process and communicate their commitments.