Recommendations
The financial sector has a major role to play in the ecological transformation of our societies. Immediate action on its part is essential to ensure that greenhouse gas emissions are halved by 2030 and to limit global warming to 1.5°C, the imperative set by the Intergovernmental Panel on Climate Change (IPCC).
Reclaim Finance has developed a set of ambitious and realistic recommendations for all financial actors – banks, insurers and investors – to help them transform their activities. These recommendations are not exhaustive and mainly address the energy sector.
The credibility of a climate policy depends on what it contains, the level of ambition it sets for itself, the effectiveness of its implementation and the methodological rigor on which it is built.
It is recommended that financial actors base their climate policy on scientific foundations and methodologies adapted to the objectives sought. Our recommendations list here the key elements to be integrated (reference scenario, databases, scope of application of the policy, engagement and voting policy, etc.).
For futher informations, you can contact us at contac@reclaimfinance.org
Asset Managers
These recommendations identify key actions that would allow asset managers to help stop the expansion of coal and support portfolio companies in closing their existing infrastructure.
See our Asset Manager analysis in the Coal Policy Tool
These recommendations identify key actions that would allow asset managers to contribute to halting oil and gas expansion and decreasing oil and gas production by 2030, and to support portfolio companies in adopting a robust climate plan.
See our Asset Manager analysis in the Oil and Gas Policy Tracker
These recommendations identify key actions that would allow asset managers to participate in the decarbonization of the power sector by accelerating the closure of fossil fuel plants, encouraging power generation companies to adopt credible transition strategies, and supporting the deployment of renewable energy.
These recommendations detail how asset managers can ensure that the climate commitments adopted by their portfolio companies translate well to the governance level. In particular, it is critical that the company’s management and board structure have the appropriate decision-making channels to develop, implement, and then evaluate the climate transition plan. The financial risks associated with climate risks and the commitments made in the transition plan must be taken into account in the accounts. Finally, the variable part of the remuneration of executives and managers must include performance criteria linked to the successful implementation of the climate plans.
These recommendations detail how asset managers can make their lobbying policy consistent with their climate policy. It is essential that this policy is applied both in their direct lobbying (with public agents, such as governments, legislators, regulators, administration, international organizations, etc.) and in their indirect lobbying (with scientific journalists, artists, etc.), or in their internal organization (with their employees, subsidiaries and contractors, from all business areas and all operational jurisdictions).
Banks
These recommendations identify key actions that would allow banks to help stop the expansion of coal and support portfolio companies in closing their existing infrastructure.
See our Banks’ analysis in the Coal Policy Tool
These recommendations identify key actions that would allow banks to contribute to halting oil and gas expansion and decreasing oil and gas production by 2030, and to support portfolio companies in adopting a robust climate plan.
See our banks’ analysis in the Oil and Gas Policy Tracker
These recommendations identify key actions that would allow banks to participate in the decarbonization of the power sector by accelerating the closure of fossil fuel plants, encouraging power generation companies to adopt credible transition strategies, and supporting the deployment of renewable energy.
These recommendations detail how banks can make their lobbying policy consistent with their climate policy. It is essential that this policy is applied both in their direct lobbying (with public agents, such as governments, legislators, regulators, administration, international organizations, etc.) and in their indirect lobbying (with scientific journalists, artists, etc.), or in their internal organization (with their employees, subsidiaries and contractors, from all business areas and all operational jurisdictions).
(Re)Insurers
These general recommendations set the framework for what a good climate policy adopted by insurers and reinsurers should include for their underwriting activities, with methodological recommendations on many aspects of this policy (baseline scenarios, datasets, decarbonisation targets, scope of the policy, definitions, etc.).
These recommendations identify key actions that would allow (re)insurers to help stop the expansion of coal and support insured companies in closing their existing infrastructure.
See our (Re)Insurers’ analysis in the Coal Policy Tool
These recommendations identify key actions that would allow (re)insurers to contribute to halting oil and gas expansion and decreasing oil and gas production by 2030, and to support insured companies in adopting a robust climate plan.
See our (re)insurers’ analysis in the Oil and Gas Policy Tracker
These recommendations identify key actions that would allow (re)insurers to participate in the decarbonization of the power sector by accelerating the closure of fossil fuel plants, encouraging power generation companies to adopt credible transition strategies, and supporting the deployment of renewable energy.
These recommendations detail how (re)insurers can make their lobbying policy consistent with their climate policy. It is essential that this policy is applied both in their direct lobbying (with public agents, such as governments, legislators, regulators, administration, international organizations, etc.) and in their indirect lobbying (with scientific journalists, artists, etc.), or in their internal organization (with their employees, subsidiaries and contractors, from all business areas and all operational jurisdictions).
