This translation is limited to the general summary and the best practices and areas of attention identified in the analysis. Full report is available in French.

Life insurance undertakings and institutions for occupational retirement provision published a report in 2022 and 2023 laying out their policy on sustainability risks, pursuant to Article 29 of the French Energy and Climate Law (hereafter referred to as the 29LEC reports). For undertakings offering an insurance product which is made available to a professional investor and which offers a maturity or surrender value that is wholly or partially exposed, directly or indirectly, to market fluctuations, a statement on principal adverse impacts of investment decisions on sustainability factors, pursuant to Article 4 of the European Sustainable Finance Disclosure Regulation (SFDR) of 27 November 2019 was required.

The ACPR is responsible for ensuring compliance with the provisions set out in these regulations and for ensuring that the information provided by institutions is clear, accurate and non-misleading. The report relies on an analysis of the compliance of the topics covered in the reports published by insurers pursuant to Article 29 of the Energy and Climate Law, and of the relevance of their content. The study compares reports published in 2022 and 2023 where possible.

The aim is to improve future publications by clarifying the ACPR’s expectations, while also warning readers about possible limits regarding the content of reports published by insurers.