The Energy and Ecological Transition for the Climate (TEEC) label was launched in December 2015 by the Commissariat Général au Développement Durable in the French Ministry of Ecological Transition to promote investment funds to finance energy and ecological transition.
Thus, TEEC is the predecessor of the GreenFin label, which is promoted by the French governmental authority. Accordingly, the procedure as well as the characteristics of the label have been incorporated into the GreenFin label and are similar to it. In addition to investment funds, the TEEC label is aimed at green real estate funds.
An investment fund is required to meet four categories of criteria to earn the label: a portion must be invested in green activities, the fund must consider exclusion criteria, present a strategy to address ESG controversies, and measure environmental impact. Requirements for the “green” quality of the real estate funds’ buildings must also meet established criteria.
The label Committee sets the main guidelines of the label and, if necessary, proposes changes in the label specifications to the authorities. This committee consists of representatives of the state, investors, civil society and sustainable finance expert groups. However, the committee does not award labels itself.
Today’s nationally recognized certification bodies are EY France, Novethic and Afnor.
Over 20 investment funds have already received the TEEC label. Click on the button to access TEEC’s website and discover the financial products awarded with the label.
Source: Ministère de la transition écologique