In 2023, pension reform is back in the spotlight in France. Reclaim Finance wanted to look at the climate impact of this reform by analyzing the practices of its main potential beneficiaries in the financial sector.
The proposed pension reform, which promotes a financialization of retirement, would mean that French pension savings would go to some of the asset managers and insurers who continue to support the development of fossil fuels, and therefore the aggravation of climate change. This contradicts the aim of limiting global warming to 1.5°C. This would not only involve the main players in France managing our pensions savings, but also even less scrupulous American giants like BlackRock could seize the new opportunities offered to them.