S&P Global Offerings
Featured Topics
Featured Products
Events
S&P Global Offerings
Featured Topics
Featured Products
Events
S&P Global Offerings
Featured Topics
Featured Products
Events
S&P Global Offerings
Featured Topics
Featured Products
Events
Corporations
Financial Institutions
Banking & Capital Markets
Economy & Finance
Energy Transition & Sustainability
Technology & Innovation
Podcasts & Newsletters
Corporations
Financial Institutions
Banking & Capital Markets
Economy & Finance
Energy Transition & Sustainability
Technology & Innovation
Podcasts & Newsletters
BLOG — Feb 16, 2021
The French government presented in the Council of Ministers on 10 February its draft 'climate and resilience' bill. The draft incorporates several of the 149 proposals drafted by the Citizens' Convention on Climate (Convention Citoyenne pour le Climat: CCC) and presented to President Emmanuel Macron in June 2020 on how to reduce domestic greenhouse gas emissions by 40% by 2030.
The National Assembly, France's lower house of parliament, should start debating the bill in March. The government would aim for approval by mid-2021, well ahead of the presidential election. The MoDem and Agir parties are likely to back President Macron's ruling La République En Marche! (LREM) party, permitting passage of the legislation.
Key sectoral impacts
Environmental issues are likely to remain a key focus in President Macron's agenda ahead of the April 2022 presidential election. The strong electoral results for the Europe Ecology - The Greens (Europe Écologie Les Verts: EELV) party in the 2020 municipal elections increase the likelihood that ecological transition and climate change will become key components of Macron's upcoming electoral campaign. The holding of a constitutional referendum on the inclusion of a commitment to fight climate change in the French Constitution before the 2022 election is also likely to remain one of Macron's objectives. Policy efforts will be supported by allocating EUR30 billion of the 'France Relance' EUR100-billion economic recovery programme to green investments (thus aligning with wider EU goals previously expressed by EU Commission President Ursula von der Leyen) for the use of EU recovery funds.
Posted 16 February 2021 by Bibianna Norek, Research Analyst, Europe & CIS, Country Risk, S&P Global Market Intelligence