France makes sustainability reporting mandatory

The French Energy Transition Bill provides for a national low-carbon strategy, aiming to reduce greenhouse gas emissions by 40 percent between 1990 and 2030 and by 75 percent between 1990 and 2050; to reduce final energy consumption by 50 percent by 2050 in relation to the 2012 benchmark, while aiming to achieve an intermediate target of 20 percent in 2030; and to reduce their final energy consumption of fossil fuels by 30 percent by 2030 in relation to the 2012 benchmark. The Bill also adds new environmental, social, and governance (ESG) reporting obligations for institutional investors.