Reclaim Finance
 
Editorial
 
With our eyes fixed on the American elections, we share the hope that Donald Trump will be defeated and that a Biden administration, more ambitious on climate change, will come to power. While we are rightly concerned about the instability that may result from this election, it is important to affirm our determination to fight climate change, regardless of the outcome.

2020 is not yet over, but the accelerating trend of financial institutions committing to align their practices with the objectives of the Paris Agreement is already evident. The number of policies on fossil fuels continues to grow, in Europe as well as in the United States and Asia. But we cannot be satisfied with them. Their quality is deplorable and, to date, none of them respond to the urgent need to halt the development of fossil fuels.

The French Minister of Economy and Finance, Bruno Le Maire, rightly called on French financial institutions not to be satisfied with the first measures on coal. As he underlined, these must be harmonised and aligned with the best practices. But he also called on financial institutions to tackle unconventional gas and oil immediately. We deplore the lack of regulation, but we can only agree with him about one thing: we have everything to gain from going further and, above all, faster.
 
Lucie Pinson
Founder and Executive Director, Reclaim Finance
 
Must-reads
 
 
While the reduction of fossil fuel production is essential to respect a 1.5°C trajectory, many scenarios keep fossil fuels at the heart of the world’s energy systems.
 
Read our memo
 
Several NGOs, including Reclaim Finance, have drawn up principles for financial institutions to follow to ensure that their commitments are truly aligned with the Paris Agreement.
 
Discover the principles
 
Monthly selection
 
 
On the occasion of Climate Finance Day, Reclaim Finance sorts out the real progress from the greenwashing of French financial institutions and sets out the priority efforts needed to respond to the climate emergency, on three critical aspects.

   
Oil Change International published a report with 30 partner NGOs around the world, showing that none of the climate plans announced by oil and gas majors is compatible with the Paris Agreement’s 1.5°C target.
 

The responsibility of financial player for deforestation
In a note outlining the devastating impacts of the sector on climate and biodiversity, Reclaim Finance and several NGOs set out the measures to be adopted by banks, insurers and investors to force traders to change their practices and ensure “zero deforestation” of soya.

 
French savings products are fueling social and environmental chaos
Reclaim Finance studied more than 400 French savings products and the results are alarming : the overwhelming majority of these products support polluters, arms manufacturers, and companies with low human rights standards.
  
 
The latest policies
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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