French insurers/reinsurers grow green investment by €12bn

French insurers and reinsurers held €61bn in green investments by the end of 2018, an increase of €12bn over 2017.

The latest edition of Baromètre ESG-climat, the responsible, green and social-solidarity units in life insurance funds invested €8bn in 2018, including €5.4bn under the ISR label, €540m labelled as GreenFin, €270m under the Finansol label and €1.7bn with other recognised labels.

"The progress shown by the 2019 Barometer is testimony to insurers' strong commitment to the climate. An approach that means we can also better serve customers who increasingly want to save in a meaningful way,” FFA president Florence Lustman said.

To speed up the shift from coal, on the occasion of Climate Finance Day 2019, the FFA is publishing New Recommendations for Defining a Coal Strategy containing a number of measures recommended by NGOs for insurers and reinsurers to divest from coal. One of the main measures aims to define the timetable for disinvestment set by each player.

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