Sustainable Finance: still a way to go!
Posted on April 25, 2010 by john
The provision of sustainable banking products is close to zero! Apart from the Credit Cooperative, a People’s Bank now part of the group BPCE, not a single large network offers simple products involved in this dynamic. There is little that the eco-free loans that are identified in their range.
On the investment side, the picture is no different: associations such as the Friends of the Earth regularly put pressure on large institutions so that they do not fund projects irresponsible, with mixed results. The profession also seems little concerned about these issues: no charter or covenant has been signed by the Federation of French banks.
Insurers themselves have committed through a charter, but for consumers, the result is still minimal. While incentives have been created and casualty insurance “? To help the insured to behave more virtuous?” Said a spokesman for the FFSA (French Federation of Insurance Companies), such as lower tariffs for efficient vehicles, or coverage of certain new risks in life insurance and savings, innovations can be counted on the fingers of one hand. Thus, there are only two contracts multichannel almost entirely oriented SRI (SRI Solid’R Life and Life), and one that opens access to a 90/10 SRI funds and solidarity (life insurance responsibility and solidarity, that has just launched the MAIF). Macif however, was the first to offer SRI products in MPT public. These concerns have not yet reached the money in euros only BNP Paribas Assurance has launched a non-financial evaluation of this major asset and is committed to move towards a SRI. Both say that there is also room for improvement …