Dialogue actionnarial sur les questions environnementales et climatiques

The AMF issued a press release in the context of shareholder dialogues on environmental and climate issues.
In its statement, the AMF emphasizes that companies subject to the obligation to publish a non-financial performance statement must include in the management report a detailed presentation of their business model, their organization, their environmental and climate policy, as well as social and societal information. This information must describe the policies implemented and the associated performance indicators. The AMF also ensures that the information presented in the universal registration documents is complete, consistent, and comprehensible.
The AMF has called on companies listed on a regulated market to further reinforce their communications regarding their climate strategy to their shareholders, and to present it during each general meeting by including the items on the agenda with a debate. The AMF notes with interest the publication by the Legal High Committee for Paris Financial Markets (HCJP) of its report on climate resolutions, which provides comfort for issuers which ask for their shareholders‘ opinion on their climate strategy via a consultative resolution.
The AMF suggests that companies should present their climate strategy with precise targets in a substantiated and detailed manner and consider submitting this information to shareholders for approval in the future. The AMF does not have the authority to assess the acceptability of draft resolutions whose inclusion on the agenda of a general meeting is requested by shareholders. Nor does it have authority to assess the validity of any refusal by the Board of Directors to include such draft resolutions on the agenda of a general meeting. Such disputes are a matter for the commercial court.
The AMF finally notes the publication of a position on climate resolutions by the Climate and Sustainable Finance Commission (CCFD). The CCFD is a commission of participants in the Paris marketplace, experts, and members of civil society and the academic sphere, established to help the AMF carry out its tasks of regulation and supervision on issues related to sustainable finance (please see eventid=19940).