Amundi and AIIB launch the Climate Change Investment Framework
Yves Perrier, Deputy General Manager of Crédit Agricole S.A.in charge notably of the Societal Project and CEO of Amundi, participates in the annual Climate Bonds Initiative (CBI) Conference to officially launch the new AIIB-Amundi Climate Change Investment Framework, a benchmark tool for investors with a holistic approach to assess climate change risks in line with the Paris Agreement objectives.
Endorsed by Climate Bonds Initiative (CBI), the AIIB-Amundi Climate Change Investment Framework translates the three key objectives of the Paris Agreement into fundamental metrics, equipping investors with a new tool to assess an issuer’s level of alignment with climate change mitigation, adaptation and low-carbon transition objectives.
Amundi and AIIIB first announced their partnership in July 2019 and since then have fully developed the tool for investors. The official launch event features as part of the CBI annual Conference taking place today with Yves Perrier speaking in a briefing session to investors and stakeholders alongside Jin Liqun, AIIB President and moderated by Sean Kidney, CEO of CBI.
“We are proud to launch this framework with AIIB as we continue to make strides in the field of climate finance. Mobilizing key stakeholders in supporting the Paris Agreement in Asia is in line with Amundi’s commitment to ESG investing and reflects our extensive commitment to the region. This new framework will further help the investment community address climate change through the mobilization of capital to emerging markets where it is much needed.” Yves Perrier, CEO of Amundi.
During this meeting, Jin Liqun, AIIB President underlined the bank's commitments to help all of its members meet the commitments made under the Paris Agreement and announced that the bank would no longer finance coal-related projects. “Let me be very clear : I am not going to finance any coal-fired power plants; further, AIIB will not finance any projects that are functionally related to coal.”
The challenge of climate change is greatest among emerging countries which are most affected by the impact of weather-related loss events (storms, floods, heat waves etc.). Emerging markets also face the challenge of decarbonizing economies with growth models that rely on the intensive use of natural resources and carbon. Addressing both of these challenges requires an annual infrastructure investment of US$5.7 trillion annually that are climate-smart.
Through its partnership with AIIB, Amundi is well positioned to contribute directing capital flows into such projects. As of June 2020, climate finance solutions represented EUR 19 billion in assets under management.
A media briefing also took place which was attended by 8 journalists. The speakers for this briefing included AIIB (Stefen Shin, Principal Investment Officer, Capital Markets & Structured Products Investment Operations Department and Laurel Ostfield, Director General Communications) and Timothée Jaulin, Head of ESG Development & Advocacy at Amundi.