The French ministry of Environment has announced Novethic and EY France will be responsible for awarding the green label Transition énergétique et climat to investment funds that are available to French investors.
This label whose launch was announced in September 2015 aims to help French investors to finance the energy transition by choosing funds that only focus on green economy. It will be granted for one year.
The French government expects the label to boost the launch of green funds in France as well as the reporting of environmental measures taken by companies in their activities.
Asset management firms can already apply to obtain the label.
First funds are to be labelled as from Spring 2016.