2020 Edition
AXA, Barclays, Federated Hermes, and ERAFP recognized at the International Climate Reporting Awards
This third edition of the Awards was organized by the French Ministry for the Ecological Transition (CGDD), the French Agency for Ecological Transition (ADEME), and the non-profit think tank 2° Investing Initiative, with support from a standard-setters advisory board composed of the Sustainability Accounting Standards Board (SASB) and the Global Reporting Initiative (GRI).
Created in 2016, the Awards are intended to reward financial institutions that integrate environmental criteria into their activities and investment policies.
In 2020, four financial institutions based in France, the United States and the United Kingdom were recognized for demonstrating innovation and best practices:
Banks Category: Barclays
Asset Owners Category: AXA
Asset Managers Category: Federated Hermes
Jury’s Prize: ERAFP
It was the first time that Barclays, Federated Hermes and ERAFP were recognized at the International Climate Reporting Awards, and the third time for AXA, the global insurance giant.
Quotes
“By building on the recommendations of Article 173, the TCFD, and the EU Non-Financial Reporting Directive, among others, the 2019 Awards aim to both recognize innovation and highlight best practices. Allianz France, Australian Ethical, Aviva France, AXA, Citi, and Ircantec are leading examples to their peers worldwide.”
Arnaud Leroy, president of ADEME
“Climate-related reporting is a vital way for financial institutions to keep their stakeholders fully informed. The winners of this year’s International Climate Reporting Awards recognize the importance of these disclosures not only in Europe but in other markets further afield.”
Will Oulton, Chairman of Eurosif
“The International Climate Reporting Awards come at an opportune time, as the EU is preparing upgrades to its pioneering Non-Financial Reporting Directive. We hope that the awards, as well as enhanced regulations, will support stronger climate-related disclosures by financial institutions in years to come.”
Olivier Guersent, Director-General of DG FISMA
More details about the 2020 awards
In 2020, the Awards criteria and scoring system were enhanced to consider the latest advances in climate reporting, such as how institutions perform climate stress-testing for the first time. The jury distributed awards by type of financial institution.
The awards came ahead of the launch of the Climate Transparency Hub (CTH) in 2021. The CTH is an online platform for monitoring, identifying, and promoting best climate reporting practices for French financial institutions. It was developed as part of the Finance ClimAct project coordinated by ADEME, with the support of 2DII and the other members of the consortium (the CGDD, l’Autorité des Marchés Financiers, l’Autorité de Contrôle Prudentiel et de Résolution and I4CE).
The CTH builds on the Climate Reporting Awards’ assessment grid developed by 2DII with the support of ADEME and CGDD. Additionally, it incorporates the best practices identified by the Awards Jury. The CTH thus aims to equip French financial institutions with the resources they need to anticipate regulatory reforms at the broader European level.
