The SRI label supported by the Finance Ministry is a major first in Europe. Its aim is to increase the visibility of SRI products among savers in France and Europe.

It is based on a decree and an order published in January 2016, which formalise the creation of the label and define its terms of reference and audit procedures.

Public authorities are the owners of the label (mark, regulations governing use, framework) and approve the changes suggested by the Label Committee.

The SRI Label Committee defines the main guidelines regarding organisation of the entire mechanism and suggests changes to the label’s terms of reference to the public authorities. It oversees the proper management of the labelling process and its evolution.
The Finance Ministry participates in the committee as an observer. The committee is comprised of representatives of every stakeholders, including representatives of consumer organisations.

The Label Committee and the public authorities do not issue the label themselves: that is the role of the labelling organisation.

The fund labelling audit is therefore conducted by independent third parties accredited by COFRAC, a semi-public body that ensures the quality of labelling organisations.

These organisations review the applications submitted by asset management companies, based on the label’s terms of reference, and independently decide whether or not to award the label. They conduct an annual labelling assessment and suggest technical changes that may be made.

To date, only Afnor Certification is accredited by Cofrac. A second organization, EY France, is in the process. This means he is not yet accredited, but he can still issue the SRI label.

In addition, a label promotion committee has been set up by the Finance Ministry. Its members include representatives of the Association Française de la Gestion Financière (French Asset Management Association – AFG), the Forum pour l’Investissement Responsable (Forum for Responsible Investment – FIR) and the French Treasury.

THE LABEL COMMITEE

Committee members are appointed intuitu personae.

Nicole Notat : Chairman of the SRI Label Committee, Chairman of VigeoEiris

Three public figures appointed based on their expertise in employee savings or corporate finance (from the left to the right):
Jean-Philippe Liard : Federal delegate for employee savings, retirement savings and SRI within the chemistry and energy trade union confederation
Éric Molinié : co-author of the interministerial report on the strengthening of CSR, Chairman of the EDF group’s Ethics and Professional Conduct Committee
Geoffroy de Vienne : Member of the Comité Intersyndical de l’Épargne Salariale (Inter-Union Employee Savings Committee – CIES)

Three public figures appointed based on their expertise in third-party asset management (from the left to the right):
Aurélie Baudhuin : Head of SRI Research, Meeschaert Asset Management
Thierry Bogaty : Head of Amundi SRI Expertise
Hervé Guez : Head of Responsible Investment Research and Social and Socially Responsible Management, Mirova

Three public figures appointed based on their academic, voluntary sector or professional experience in financial investments or consumer and saver protection (from the left to the right):
Patricia Crifo : Professor at École Polytechnique and University of Paris X Nanterre
Guillaume Prache : Managing Director of the European Better Finance association
Stéphanie Truquin : Economist at the Institut National de la Consommation (National Consumer Institute – INC)

Three public figures appointed based on their expertise in institutional investment or savings product distribution (from the left to the right):
Dorothée de Kermadec-Courson : Chairman of the Sustainable Development Committee of the Fédération Française de l’Assurance (French Insurance Federation – FFA) and Head of Sustainable Development at CNP Assurances
Anne de Lanversin : Director of Sales and Financial Solutions at AXA Corporate Retirement Savings
Raphaèle Leroy : Head of CSR and Social Entrepreneurship at BNP Paribas group

SRI LABEL SCIENTIFIC COMMITTEE

Diane-Laure Arjaliès : Assistant professor at Ivey Business School (Canada)
Pierre Chollet : Professor at Université de Montpellier
Nicolas Mottis : Professor at École Polytechnique
Patricia Crifo : Professor at l’École Polytechnique and at Université Paris X Nanterre