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France

France

NEW! Download the "2010 European Asset Owners: ESG Perceptions and Integration Practices" by Novethic, in partnership with Eurosif (English, French). Study created with the support of BNP Paribas Investment Partners.


Some facts about the French market (based on research and analysis by Novethic):

  • SRI Market Size*: Core SRI €50,7 billion (as of 31/12/2009), Broad SRI €1,800 billion (as of 31/12/2009).
  • SRI Institutional Market Size: 69% of Core market (€35.2 billion).
  • Investment vehicle: discretionary mandates (55%) have now overtaken investment funds (45%).
  • Influential actors: Large institutional investors such as Pension Reserve Funds (FRR), the French Public Service Additional Pension Scheme (ERAFP) and various insurers. Employee Savings Plans represent 13% of the SRI market and trade unions play a key role in defining the ESP offer and its SRI characteristics.
  • Leading Strategies: Best-in-Class approaches, Land Mines and Cluster Bombs and other multiple-factor ethical exlusions. Integration has boomed since 2007.
  • Number of funds: total 305 as of Sept.2010.
  • Legal Milestones: disclosure regulation on ESG issues for listed companies (2001), introduction of the Pension Reserve Fund and law relating SRI issues to Employees Saving Plans in 2001. The Grenelle 2 legislation passed in July 2010 introduces new obligations for asset managers to disclose how ESG factors are being incorporated into their investment strategies (application decree is yet to be issued).
  • SIF (yes/no): Yes, Forum pour l'Investissement Responsable (FIR) since 2001.

* The Novethic definition of national market differs slightly from Eurosif's, hence some slight differences when comparing market figures.

For more information on SRI in France:

  • Visit Novethic, the leading research center in France on Corporate Social Responsibility (CSR) and Socially Responsible Investment (SRI). www.novethic.com


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