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What stands behind the label?

The label was launched in 2020 by the French Minister of the Economy, Finance and Recovery to support middle-sized French companies. The Recovery Labels Charter mandates that a significant portion of the labelled funds’ assets are invested in French companies, including SMEs and mid-caps, in the form of equity or quasi-equity.

Additionally, the Charter includes ESG criteria that must guide the investment and shareholder engagement strategies of the labelled funds, including a prohibition on financing the coal industry. The label can be granted until December 31, 2022.

What are the key points of the label?
Key points
Disclosure of the sustainability criteria for the award of the label

The product must comply with three categories of ESG obligations: relating to the investment strategy and the shareholder engagement; relating to the performance of ESG due diligence and the monitoring of ESG targets, in the form of a rating or indicator; and relating to the management company of the collective investment. The evaluation process also considers if the asset has already been awarded with the SRI, Greenfin or Finansol label. LuxFLAG’s ESG Label Exclusion Policy, including underlying invested assets.

Key points
Independence of the organization awarding the label

The label has been launched by the Directorate General of the Treasury of the French Ministry of Economy, Finance, and Industrial and Digital Sovereignty. The State and association are involved.

Key points
Multiple-step process when the label is awarded by a number of parties

The control body of the “Relance” label decides on the applications in accordance with the Charter. The monitoring of the labelling dynamic is ensured by the Monitoring Committee of the “Recovery” label, made up by banking and investment federations, advisors, public and institutional associations.

Which financial products are evaluated with it?

Following products are eligible for the label Relance: undertakings for collective investment in transferable securities (UCITS), investment funds, private equity funds, alternative funds, free partnership companies, financing organizations, employee savings funds and venture capital companies. A list of awarded products is not available.

Source: French Directorate General of the Treasury