Gérard MESTRALLET, Chairman, Paris EUROPLACE & Chairman of theBoard, ENGIE« In this new international context, marked by the withdrawal of the UnitedStates from the Paris Agreement and by an increased involvement ofEurope and new driving forces – China and India – in favour of the %ghtagainst global warming, it is today, more than ever, essential to increasethe contribution of the global %nancial industry to these issues and toconsolidate and promote the position of the Paris Financial Center as a worldleader in green and sustainable %nance. »

Philippe ZAOUATI, Chairman, Finance for Tomorrow & CEO, Mirova« Over the past several years, the Paris Financial Center has experiencedthe development of multiple initiatives in the %eld of green andsustainable %nance. The close relationship between market players andpublic authorities has largely contributed to this vibrancy. The currentwindow of opportunity is exceptional to make %nance evolve and servebetter the economic, social and environmental needs of our societies.

Therefore, today, we want to turn these promising signals into a strong,stable and organised ecosystem, oriented towards international cooperation.

A %nance for tomorrow. »

ArnaudDEBRESSON, CEO, Paris EUROPLACE« Paris is a committed and competent Financial Center, ready to take on thechallenges of a sustainable future combining long-term investment andinclusion of environmental and social issues. This commitmentcorresponds to strong beliefs, a long-standing experience and skillsrecognised at international level.As the international landscape restructures, Paris EUROPLACE intends toaccelerate the contribution of industrial and %nancial players, with concreteinitiatives with regards investment, research, innovation and promotion ofthe green and sustainable %nance, at French and international level. »

FOR ASUSTAINABLE FINANCE

THE SUSTAINABLE

FUTUREBEGINS INPARIS1

100 BIGGESTFRENCH COMPANIES

630 ASSETMANAGERS

MORE THAN350 BANKS

298 PRIVATEEQUITY INVESTORS

MORE THAN 300 000COMPANIES

PROFESS IONNAL ASSOC IAT IONS

O B S E R V E R S

THE 1ST MEMBERSOF FINANCE FORTOMORROW

MINISTÈREDE LA TRANSITION

ÉCOLOGIQUEET SOLIDAIRE

THE SUSTAINABLE

FUTUREBEGINS INPARIS

AROUND 300INSURANCE COMPANIES

A massive shift of capital&ows is the number one prio-rity. Green %nance and responsi-ble investment, both particularlydeveloped in France, pave the way fora more global reorientation of %nancial &ows.That is why the Paris Financial Center aims,throughFinance forTomorrow, toposition it-self as a major player and become leading�gure in Europe and internationally.

THE SUSTAINABLE FUTUREBEGINS IN PARIS

The Paris FinancialCenter has the strengthsand assets to meet the challenge: a robust%nancial system, a complete ecosystem andinternationally recognized leading expertise,and an ancient, virtuous and close public-private dialogue that is quite unique in theworld.

The historic success of the Paris Agreementand the leading role of the French Presidencyfor COP21 have stimulated a dynamic of

mobilization of the Frencheconomic and %nancial actors.

The withdrawal of the UnitedStates from the Paris Agreement is

one more reason to accelerateEuropean and International mobilization andto strengthen synergies between %nancialcenters in order to encourage thedevelopment of a more sustainable global%nancial system.

Finance for Tomorrow was created at theinitiative of Paris EUROPLACE and theplayers of the Paris Financial Center tocoordinate this rapid and massive mobilizationof the %nancial sector, following thecommitments and actions initiated by thepublic authorities.The initiative brings together private, publicand institutional players wishing to committhemselves to a %nance that is based on asustainable future and combines long-terminvestment and environmental and socialchallenges p

#SHIFTTHE TRILLIONS

The goal of limiting global warming to 2° before the end of the century set by theParis Agreement as well as the Sustainable Development Goals set for 2030 bythe United Nations illustrate the urgency to act and allow to assess the fundingneeds to adapt the current economy and direct the �nancial �ows towards alow carbon and inclusive model.

A FINANCETHAT LOOKS FORWARD

THE SUSTAINABLE

FUTUREBEGINS INPARIS2

PARIS FINANCIAL CENTER,A LONGTERMCOMMITMENTIn the early 2000s, the Paris Financial Center developed practices to integrate environmental, socialand governance (ESG) criteria in %nancial management. In France, Socially ResponsibleInvestment (SRI) has grown signi%cantly in ten years, going from 8.8 billions € to 746 billions € p

After the �nancial crisis of 2008, the Paris Financial Center demonstrated its commitmentthrough the mobilization of private players, the economic and %nancial sector and public authorities,thus con%rming its leading role in the development of %nance capable of facing the challenges ofsustainable development p

THE SUSTAINABLE

FUTUREBEGINS INPARIS

2017

Launch ofFinancefor Tomorrow

2 0 16

Launch of theParis Green andSustainable FinanceInitiative andpublication ofa report with15 recommendations

2 0 15

Organizationof the 1stClimate Finance Dayin Paris

2 0 13

Creation of theEuronext-Vigeo Eirisindices

2 0 0 9

Signature of theResponsibleInvestment Charterof the Paris FinancialCenter

746BILLIONS €

8,8BILLIONS €

2 0 0 5

SOURCE : NOVETHIC

2 0 15

emmapom

conc

eptio

n

Climate emergency and the steady maturation pace of green�nance, must now open the way to the �nancing of sustainabledevelopment in all its components. French public and privatestakeholders have largely contributed to the change of scale atthe European and International level, necessary for a transition toa low-carbon economy and to a more inclusive �nance.

Organized in May 2015 at the UNESCO headquarters in Paris by Paris EUROPLACE at the initiativeof the Caisse des Dépôts Group and the European Investment Bank, this event launched thedynamic for the commitment of %nancial players at the international level.

Adopted at the end of the COP 21 held in December in Paris under the French Presidency,it sets the course of a 2° global warming scenario by the end of the century.

THE SUSTAINABLE

FUTUREBEGINS INPARIS

2014 TheUNClimate Summit

The ParisAgreement

AWORLDWIDEACCELERATION

3

2 0 15 The Climate Finance Day

The French state issued for the %rst time in January 2017 a green bond worth 7 billion euros, thelargest sovereign issuance ever made to date.

2 0 17 French Sovereign Green Bond

#MAKE OURPLANETGREAT AGAIN

In September 2014, at the United Nations Headquarters in NewYork, the Climate Summit broughttogether, for the %rst time, business leaders, %nancial institutions and heads of state to launch thejoint mobilization of the economic sector and nations for the %ght against climate change.

Declaration ofHenri de Castries, CEO ofAXA, at the Climate Finance Day, May 22nd2015

«A 4 degrees world is not insurable »

EUROPEANAND INTERNATIONALSUSTAINABLE FINANCE

TheG20 set up the Green Finance Study GroupandtheFinancialStabilityBoard (FSB) launchedaTask Force on Climate-related FinancialDisclosures (TCFD), theobjectiveofwhich is tosetup a risk management and reporting frameworkfor the use of companies and investors.

TheEuropeanCommission is setting up a HighLevel Expert Group on Sustainable Finance(HLEG) with the objective of making concreteproposals to transform %nance and reorient%nancial &ows towards the development of alow carbon and inclusive economy.

THE SUSTAINABLE

FUTUREBEGINS INPARIS

2015 2 0 16

2000 2001 2006 2007 2014 2017

CarbonDisclosureProject

InstitutionalInvestorsGroup onClimateChange(IIGCC)

PrinciplesforResponsibleInvestment

1st

ClimateAwarenessBondsby the EIB

MontrealCarbonPledge+GlobalInvestorsStatementon ClimateChange

1st ClimateFinance Dayin Paris+PortfolioDecarbonizationCoalition

HLEG

2016

TCFD

2015

Creation of theTCFD

AN ACCELERATIONOF CLIMATE INITIATIVES

Creation of the HLEG

UN GeneralAssembly adopts17 sustainable developmentgoals to be achieved by 2030.

The SDGs become thebenchmark for the responsibleinvestors who now want toreport an environmental and /or social impact of theirapproach.

The principles for PositiveImpact Finance launched atthe beginning of the year byUNEP FI in Paris with thesupport of Paris EUROPLACEare part of this movement.

2 0 15 2 0 16 2 0 17

THE SUSTAINABLEDEVELOPMENT GOALS (SDGs)

emmapom

conc

eptio

n

A DYNAMICECOSYSTEM

One of the main assets of the Paris Financial Center is its dynamic ecosystemwhich includes a unique and complete value chain bringing together public andprivate actors. The French pioneer regulation on reporting and the creation ofpublic labels guaranteeing the quality of products have also contributed greatlyto the development of the responsible investment and green bonds markets,on which, France today’s hold a leading position.

THE SUSTAINABLE

FUTUREBEGINS INPARIS4

2 0 15

Ecologic andEnergy transitionactart.173for institutionalinvestors

2 0 10

Grenelle II actart.224for managementcompaniesart.225for businesses

BANKS

FINANCE FOR TOMORROWASSET OWNERS

ASSET MANAGERS

INSURERSAUDITORS

LAWYERS

CLEANTECH

LISTED COMPANIES

FINTECH

PROFESSIONALASSOCIATIONS

STOCKMARKET OPERATORS

RATINGAGENCIES

POST-MARKET

INVESTORS GREENTECHCONSULTING

FIRMS

PUBLIC

AUTHORITIESBROKERS

SME’S

NGO

REGULATORS RESEARCHERS

THINK TANKS

TWO PUBLIC LABELS

A PIONEER REGULATIONON ENVIRONMENTALAND SOCIAL REPORTING

Article 173 con%rms a reportingobligation for major Frenchinvestors on their climate riskmanagement and the integrationof ESG criteria into theirinvestment decisions. Thispioneering legislation has becomea model to be followed atEuropean and International levelp

The Energy and EcologicalTransition (TEEC) labelwas launched by the Ministry of Environment,Energy and Sea. It gives investors the assurance that the investments to which it is awarded contributeto the funding of the energy and ecologic transitionThe SRI label is awarded to responsible and sustainable investments. Created and supported bythe Ministry of Finance, the label aims to make socially responsible investment (SRI) products morevisible for savers in France and Europe p

2 0 0 1

NRE actfor businesses

THE SUSTAINABLE

FUTUREBEGINS INPARIS

578BN €

746BN €

2014 2015

A GROWING MARKET

RESPONSIBLE INVESTMENTEVOLUTION OF THEOUTSTANDING AMOUNTSIN FRANCESOURCE : NOVETHIC

13,168BN $2013

2017

1,86BN $

GREEN AND LOW CARBON FINANCING20,2 BN € IN 2015SOURCE : NOVETHIC

+29%

13,168

2,700

24%

OF ISSUERS ARE FRENCHCOMPANIES

25%

OF ISSUANCE AREARRANGED BY FRENCH

BANKS

2,6552,458

7,513SWEDEN

CHINABRAZIL

USA

TOP 5 COUNTRIES ISSUERS OF GREEN,SOCIAL AND SUSTAINABILITY BONDSON 1ST JUNE 2017 IN BILLION OF US DOLLARSSOURCE : BLOOMBERG

EVOLUTION OF THEFRENCH MARKET OFGREEN, SOCIAL &SUSTAINABILITY BONDSSOURCE : BLOOMBERG

27%

ARE BOUGHT BY FRENCHINVESTORS

4,3 4 2,5THEMATIC FUNDS GREEN BONDS CLEAN TECH GREEN INFRASTRUCTURE

4,9

INDEX FUNDS

4,4

$

$

$

$$

X7

FRANCE,A PIONEER IN THEGREEN BONDSMARKET

GLOBALMARKET 2017SOURCE CA-CIB

emmapom

conc

eptio

n

A COLLECTIVEDYNAMICFinance for Tomorrow is the result of an important preparatory work carried outwith the actors of the Paris Financial Center. In-depth interviews with each ofthem made it possible to establish a complete inventory, to identify theassets of the �nancial center and to de�ne avenues of improvement, via15 recommendations gathered in a report directed by Philippe Zaouati.

It’s objective: a change of scale of green and sustainable �nance and astronger visibility at the european and international level for the ParisFinancial Center. This collective dynamic is organized around concreteand ambitious projects and working groups, a structured organizationand services reserved for its members.

6 CONCRETE AND AMBITIOUS WORKING GROUPS

THE SUSTAINABLE

FUTUREBEGINS INPARIS5

Researchand innovation

Identifying research needsand innovative �nancingtools and foster thedevelopment andvalorization of �ntech.

1Benchmark ofgreen financialcentersBuilding a benchmark ofglobal green �nancialcenters on theircontribution to the �nancingof energy and ecologicaltransition and the �ghtagainst climate change.

2PublicAffairs

3

ClimateFinancialDisclosureHighlighting the Frenchexpertise and leadershipacquired on climate reportingthrough the disclosurerequirement for institutionalinvestors created byArticle 173 of the EnergyTransition Act.

4Green bonds

Developping the issuanceof green and sustainablebonds and the ability of theParis Financial Center toin�uence internationalstandards by strengtheningthe French presence inexisting bodies.

5Internationalpromotion andnetworking

The 15 recommendations were used as a basis for 6 working groups in which Finance for tomorrowmembers participate:

6

Helping to remove barriersto the development ofgreen and sustainable�nance in France andinternationally and ensurepolicy dialogue anddiscussion betweenprivate actors andpublic authorities

Making the ecosystemdeveloped in France aroundgreen and sustainable �nancemore visible and spread it withthe organization and hosting ofinternational events in Paris ;developping an internationalgreen and sustainable�nance actors network.

of a collective dynamic ofthe Financial Center withactors who promote greenand sustainable �nance.

CONTRIBUTEBEING PARTto the roadmap, thediscussions and actionsimplemented at the French,European and Internationallevels.

INTEGRATEa network of activeplayers representing allcomponents of sustainable�nance.

BENEFITof the national andinternational in�uence of acommitted Financial Center,and use the brand to betterpromote your actions andcommunications.

TAKE PARTin international actions andevents, as well asnetworking events.

THE SUSTAINABLE

FUTUREBEGINS INPARIS

BEING A MEMBEROF FINANCE FORTOMORROWMEANS:

ME

MB E R

DirectorAnne-Claire ROUX

+ 33 (0)1 70 98 06 36ac.roux@paris-europlace.com

Chaired byPhilippe ZAOUATI

CEO of Mirova

It de%nes the roadmapand objectives and monitors

the budget

Open toall the members

Meets 3 to 4 times a yearto inform the memberson ongoing actions andto discuss the priorities

OUR GOVERNANCE

BUREAU PLENARY COMMITTEE

emmapom

conc

eptio

n