Canfin-Zaouati report: a French-style green Juncker plan
On Friday December 14, Pascal Canfin, CEO of WWF France, and Philippe Zaouati, President of Finance for Tomorrow and CEO of Mirova, presented the ‘Canfin-Zaouati Report’, the result of the mission entrusted to them last June by the Minister of the Economy and Finance and the Minister of the Ecological and Solidarity Transition, as part of the work of the AcTE Commission (Accélérateur pour la Transition Ecologique).
As Nicolas Hulot reminded us when he resigned, France is not meeting its commitments to reduce CO2 emissions under the Paris Agreement. It is therefore essential to invest more in ecological transition solutions. To achieve this, the authors of the report, produced with the support of ADEME, recommend the creation of France Transition, a tool for mobilizing 10 billion euros of private investment in the ecological transition, for example in housing insulation, agro-ecology or methanization, via the development of risk-sharing mechanisms.
It’s a question of launching a French-style Green Juncker Plan, with a massive leverage effect: for every 1 euro of budgetary expenditure, the report shows that it is possible to generate 20 euros of green investment in regions that sorely need it.
– Recommendation no. 1: bring together a public investment team dedicated to energy and ecological transition in a single approach, by creating ‘France Transition’;
– Recommendation no. 2: develop a doctrine for the use of public-private risk-sharing financial instruments;
– Recommendation no. 3: Concentrate France Transition’s activities on deploying the transition, and provide it with an initial funding envelope of one billion euros to generate ten billion in private investment over three years;
– Recommendation no. 4: Optimize France Transition’s activities in line with and in coordination with the European Union and the future Invest EU mechanism;
– Recommendation no. 5: Create the conditions for greater collaboration between the private and public sectors in financing ET.
Read the Mission Statement
https://institutdelafinancedurable.com/2018/07/17/mission-canfin-zaouati-garanties-publiques/