Key Benefits:
Publics concerned: portfolio management companies, certification bodies, investors.
Subject: modalities for the implementation and governance of the "Energy and Ecological Transition for Climate".
Entry into force: the text comes into force on the day after its publication.
Notice: The decree creates the label "Energy and Ecological Transition for the Climate" and the label committee placed with the Ministry of Ecology, Sustainable Development and Energy. It sets out the modalities for the development, revision and registration of the repository that determines the criteria to be met by the investment funds to benefit from the "Energy and Ecological Transition for the Climate". It details the procedures for the labelling of funds and defines the role of certification bodies and the procedures for monitoring and controlling funds that require the label "Energy and Ecological Transition for Climate". The creation of this label joins the objectives of the Act No. 2015-992 of 17 August 2015 relative to the energy transition for green growth.
References: the environmental code Amended by this decree can be consulted, in its drafting, on the website Légifrance (http://www.legifrance.gouv.fr).
The Prime Minister,
On the report of the Minister of Ecology, Sustainable Development and Energy,
In view of the Commission's delegated regulation (EU) No. 231/2013 of 19 December 2012 supplementing Directive 2011/61/EU of the European Parliament and the Council with regard to exemptions, general conditions of exercise, depositaries, leverage effect, transparency and monitoring;
Having regard to Directive No. 2009/65/EC of the European Parliament and of the Council of 13 July 2009 on the coordination of legislative, regulatory and administrative provisions concerning certain securities collective investment bodies (VSFs);
Considering Directive No. 2011/61/EU of the European Parliament and Council of 8 June 2011 on alternative fund managers and amending Directives 2003/41/EC and 2009/65/EC as well as Regulation (EC) No. 1060/2009 and (EU) No. 1095/2010;
Vu le Consumer code ;
Vu le environmental code ;
Vu le monetary and financial code ;
Vu la Act No. 2015-992 of 17 August 2015 relating to the energy transition for green growth, including Article 2;
Vu le Decree No. 2006-672 of 8 June 2006 on the establishment, composition and functioning of administrative committees of an advisory nature,
Decrete:
Title II of Book I (regulatory portion) of the Environmental Code is supplemented by a chapter VIII as follows:
“Chapter VIII
« Label « “Energy and ecological transition for the climate”
“Section 1
“General principles
"Art. D. 128-1.-For the purposes of this chapter, it is understood that:
« 1° “ Portfolio Management Corporation ”: Portfolio Management Company referred to in theArticle L. 532-9 of the Monetary and Financial Code ;
« 2° “ Investment Funds”: collective investment organizations mentioned in theArticle L. 214-1 of the Monetary and Financial Code under Directive No. 2009/65/EC of the European Parliament and of the Council of 13 July 2009 on the coordination of legislative, regulatory and administrative provisions concerning certain securities collective investment bodies (OPCVM) or alternative investment funds within the meaning of L. 214-24 of the same code, under Directive No. 2011/61/EU of the European Parliament and the Council of 8 June 2011 on alternative funds managers and amending directives 2003/41/EC and 2009/65/EC
“3°” Certification of an investment fund ” : operation, also called “labelization”, by which the label “Energy and ecological transition for the climate” is attributed to the investment fund.
"Art. D. 128-2.-Invest funds can benefit from the label “Energy and Ecological Transition for Climate”. This label ensures that certified funds meet criteria such as their direct or indirect contribution to the financing of the energy and ecological transition and the quality and transparency of their environmental characteristics.
"These criteria may differ according to the categories of investment funds and their possible thematic preponderance.
"To ensure to the final investor that an investment fund meets the defined criteria, the certification of the fund is required under the conditions set out in section 4 of this chapter.
“Section 2
“The committee of the label “Energy and Ecological Transition for the Climate”
"Art. D. 128-3.-The label committee:
« 1° Make a notice to the Minister responsible for the environment on the evolution of the broad directions related to the labelling process and on the animation of the whole device;
« 2° Proposes modifications to the repository of the label provided for in section D. 128-8 and to the framework control and monitoring plan provided for in section D. 128-10.
"Art. D. 128-4.-I.-The label committee consists of twenty members as follows:
« 1° A college composed of five State representatives, including the Commissioner-General for Sustainable Development;
« 2° A college composed of five representatives of professional or non-professional investors and portfolio management companies;
« 3° A college composed of five representatives of civil society;
« 4° A college composed of five qualified personalities in financial asset management or certification.
"II.-The members of the label committee can be represented.
"III.-The chair of the committee is the Commissioner-General for Sustainable Development.
"Art. D. 128-5.-The members of the committee are appointed by order of the Minister for the Environment.
"The term of office of the members of the label committee is three years renewable.
"Art. D. 128-6.-The Chairperson and the members of the label committee shall exercise their functions free of charge.
"The travel and residence expenses are reimbursed under the conditions provided for in the regulations applicable to civil personnel of the State.
"They are kept confidential for the facts, acts and information they may be aware of because of their functions.
"Art. D. 128-7.-The operation of the committee shall be governed by rules of procedure established by an order of the Minister for the Environment. Its secretariat is provided by the Office of the Commissioner for Sustainable Development.
“Section 3
« The labelling repository
"Art. D. 128-8.-I.-The repository of the label "Energy and Ecological Transition for Climate" defining the criteria set out in section D. 128-2 to which an investment fund must meet to be certified is defined by order of the Minister responsible for the environment.
"Art. D. 128-9.-From the first publication of the repository, revisions are proposed by the label committee.
"Remote comments on the existing repository can be forwarded to the label committee by the certification bodies and portfolio management companies that have laminated funds or have been candidates for labelling. They may give rise after instruction by the label committee to revisions of the repository.
“Section 4
“Certification and control modalities
"Subsection 1
"The control and monitoring plan under the label
"Art. D. 128-10.-The framework monitoring and monitoring plan that defines the principles applicable to the procedures for certification of investment funds that require the label, the role of certification bodies and the procedures for the control and monitoring of funds that have obtained the label is defined by decree of the Minister responsible for the environment. It complies with the provisions set out in subsections 2 and 3 of this section.
"Art. D. 128-11.-From the first publication of the framework control and monitoring plan, revisions are proposed by the label committee.
"Reasonable observations on the current framework monitoring and control plan can be forwarded to the label committee by the certification bodies and portfolio management companies that have lacked funds or have been candidates for labelling. They may be given place after instruction by the label committee to revisions to the framework monitoring and monitoring plan.
"Subsection 2
« Portfolio management companies
"Art. D. 128-12.-Any portfolio management company that wishes to obtain the label “Energy and Ecological Transition for the Climate” for one of its investment funds requests a certification body, chooses, validates its approach, and submits to it, for this purpose, an information sheet that includes how it meets the requirements of the repository and the associated internal control process.
"Art. D. 128-13.-I.-Until September 30, 2016, certification bodies are selected by the Ministry responsible for the environment.
"II.-As of October 1, 2016, certification bodies are accredited by the French Accreditation Committee or by any other accreditation body that is signatory to a multilateral recognition agreement as part of the European coordination of accreditation bodies.
"Subsection 3
“Certifying bodies
"Art. D. 128-14.-The certification bodies shall assess and control the compliance by the investment fund submitted by the portfolio management company of the reference mark defined in section D. 128-8 on the basis of the assessment modalities defined in accordance with the framework control and monitoring plan defined in section D. 128-10.
"Art. D. 128-15.-When the certification body determines that a fund whose application is submitted by a portfolio management corporation meets the criteria defined in section D. 128-8, the labelling is issued for a period of one year.
"He informs the label committee within one month.
"Art. D. 128-16.-In the course of the certification follow-up audit operations, the certification body may request the portfolio management company to carry out a stock plan that proposes corrective actions as well as a time frame for the implementation of these shares.
"The certification body, during these follow-up audit operations, checks on parts or on site that these actions are carried out.
"The certification body may issue the suspension or withdrawal of the labelling decision under the conditions defined by the framework control and monitoring plan.
"Art. D. 128-17.-I.-The certification bodies transmit to the label committee their decisions regarding the granting, renewal, withdrawal or suspension of certification within one month.
"II.-They shall transmit to it, no later than two months after the end of a period of October 1 of a year to September 30 of the following year, an annual report of activity including a record of the labelling, the list of funds benefiting from the label and their main characteristics, a summary of the corrective actions requested to the recipients of the label and the penalties imposed against them.
"Art. D. 128-18. - Subject to the exchange of information between certification bodies, necessary for the execution by them of their control or information missions, certification bodies may not make public the confidential and nominative information that they may be aware of during their activities.
“Section 5
« Publication of information
"Art. D. 128-19.-Sont published on the website of the Minister for the Environment:
"the repository;
"the monitoring and monitoring plan;
"-the rules of use of the distinguishing sign that materializes the certification “Energy and ecological transition for the climate”;
"-the list of certification bodies;
"the list of the labellized funds;
"the composition and the rules of procedure of the label committee.
"The award, renewal, withdrawal or suspension of the selection decision of the certification bodies shall be marked on the website of the Minister responsible for the environment. »
The Minister of Ecology, Sustainable Development and Energy is responsible for the execution of this decree, which will be published in the Official Journal of the French Republic.
Done on December 10, 2015.
Manuel Valls
By the Prime Minister:
Minister of Ecology, Sustainable Development and Energy,
Royal
