The first state label dedicated to green finance (TEEC) becomes the Greenfin label. On this occasion, Novethic is publishing a Overview of European sustainable finance labels. It clears up the promises of the sustainable finance label offer in Europe, at a time when savers are increasingly demanding this kind of financial products.
France has 2 public certifications: ISR certification, driven by the Ministry of Finance, and Greenfin certification, driven by the Ministry of Ecological and Inclusive Transition. The other sustainable finance labels are issued by marketplace organisations or by specialist environmental certification organisations.
Sustainable finance has led to the creation of around ten specific labels. Granted to less than 500 financial products, when there are over 60,000 funds on the European market, they serve as markers for sustainable investors. Designed to offer guarantees relating to the composition of portfolios, their reputation should improve thanks to better dissemination within bank and insurance networks, driven by the Pacte Act, which plans to include at least one ISR or Greenfin certified fund in the life insurance offering as from 2020.
We believe that Greenfin certification is an important asset for private investors. It points to green products capable of clearly and legibly financing a green economy.
Anne-Catherine Husson-Traore
Directrice générale de Novethic
Read the press release
Download the Overview of European sustainable finance labels report