Publication – Recommendations of the Observatoire de la finance durable’s Scientific and Expert Committee
One year after the launch of the Sustainable Finance Observatory, its Scientific and Expert Committee has published its new recommendations on unconventional hydrocarbons and alignment strategies.
The Comité Scientifique et d’Expertise believes that the credibility of the greening of the Paris financial center depends as much on phasing out coal industry financing by 2030 in European Union and OECD countries, and by 2040 in the rest of the world (as recommended by the February 25, 2021 opinion), as on effectively supporting the fossil fuel industry in its decarbonization, by integrating the issues linked to a just transition.
With a view to aligning itself with the scientific imperative to halt all new fossil fuel projects and reduce oil and gas production, the Comité Scientifique et d’Expertise has published its first recommendations on unconventional oil and gas.
These recommendations include:
- A precise definition of unconventional hydrocarbons: activities and value chain
- The Committee’s call for the definition of a common standard of good industrial practice to be demanded of their counterparts in the marketplace.
- Concrete proposals for exclusion policy criteria
- Indicators required from the Observatory to report on these issues
- Seven recommendations for defining an ambitious alignment strategy
- Clarification of the notion of alignment