The Bank of France and the Prudential Supervision and Resolution Authority published the second edition of their Sustainability Report, setting out their 2024 actions on climate, nature and responsible investment and reporting a 32% reduction in operational greenhouse gas emissions compared with 2019. The report is updated to link climate- and nature-related actions more directly to the institution’s three core missions (monetary strategy, financial stability, and services to the economy and society) while remaining consistent with the Financial Stability Board’s Task Force on Climate-related Financial Disclosures recommendations. Disclosures on operational impacts were expanded, including a first publication of the organisations’ impacts and dependencies on nature, alongside indicators such as staff climate awareness (80.4%) and the share of 2024 research publications focused on climate and environmental topics (24%). On supervisory and analytical work, it references the publication of results from the second climate risk stress test for the insurance sector, the integration of climate-change risks into the corporate rating framework, the rollout of a transition climate indicator for non-financial companies covering 1,350 firms, and ongoing Network for Greening the Financial System work on nature-related risks. On responsible investment, the report reiterates a commitment to extend a 1.5°C temperature target to the corporate bond portfolio by end-2026, after aligning own-account equity portfolios to a 1.5°C trajectory by end-2023. It also describes 2024 implementation of fossil-fuel exclusions aligned with the Paris Agreement for oil (more than 10%) and gas (more than 50%), total exclusion of companies involved in coal and unconventional hydrocarbons, and exclusion of any company developing new fossil energy extraction projects, alongside expanded climate metrics (including scope 3 emissions) and the launch of a biodiversity-focused equity fund with the Caisse des Dépôts Group.

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