French Financial Regulator Seeks Crackdown on Transition Finance
- France’s AMF says investors are right to be confused
- Push comes as Europe starts revamp of landmark ESG rulebook
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The financial regulator in France, home to the European Union’s biggest asset managers, is asking Brussels to enforce guardrails around one of the hottest themes in investment management.
Transition finance, dubbed by BlackRock Inc. as one of the “mega” forces now shaping the global economy, is spawning a multitrillion-dollar investment industry before regulators have produced a common definition of what the term actually covers. As a result, the finance industry is using “transition” as a rubric for everything from wind turbines to coal-powered steel plants.