In its report published on February 5, the NGO Reclaim Finance identifies Green-Got as an exception in the life insurance market. While 62% of unit-linked funds remain exposed to fossil fuel expansion, none of the funds offered by Green-Got contribute to the financing of activities linked to the expansion of coal, oil, or gas. In a market still largely characterized by discreet trade-offs and silent compromises, the fintech provides proof that another way of investing is possible.
More than 150M in assets under management are currently directed toward companies and assets committed to the transition.
An independent NGO specializing in the analysis of financial practices in the face of the climate emergency, Reclaim Finance conducts various studies. These focus on the analysis of investment products and the assessment of the actual degree of dependence on fossil fuel expansion. The objective: to make visible the gap between stated commitments and the actual allocation of capital, in order to change financing practices.
This report covers nearly 7,500 unit-linked funds referenced in life insurance contracts in France. The results are unequivocal.
62% of unit-linked funds are exposed to at least one fossil fuel developer.
61% show exposure to oil and gas developers, in upstream and/or midstream sectors.
15% remain exposed to coal developers.
This finding also applies to funds labeled as responsible or sustainable, highlighting a structural limitation of current frameworks.
"Our analysis shows that it is very difficult for savers to have a life insurance policy without companies that have a devastating impact on the planet. Despite the climate promises made to their clients, market leaders (...) still consistently offer unit-linked products where more than half are exposed to a company developing new fossil fuel projects. It is time for French savers to have access to fossil-free life insurance that no longer contributes to climate disruption," emphasized Ariel Le Bourdonnec, insurance campaign manager at Reclaim Finance.
The NGO notes that Green-Got currently manages over 170M in assets, including 75M under its GG Planet life insurance policy, held by approximately 13,500 savers. The funds are invested in clearly identifiable transition activities: electrical infrastructure (Schneider Electric); rail transport (Alstom, Railpool); solar (First Solar, Sonnedix); offshore wind (Orsted); and high-performance renovation of certified buildings (HQE).
Alstom is one of the world leading manufacturers of infrastructures for rail transport sector. Net sales break down by family of products and services as follows:
- rolling stocks (51.1%): trains, tramways and locomotives;
- railway services (24.3%): maintenance, modernization, management of spare parts, support and technical assistance services;
- signaling, information and control systems (14.3%);
- railway infrastructures (10.3%): infrastructures for the track laying, lines electrical power systems, electromechanical equipment, telecommunication devices and traveler information in station, terminals for automatic purchase of tickets, access to escalators, lifts for disabled, automatic landing doors on platforms, ventilation, air conditioning and lighting systems).
Net sales are distributed geographically as follows: France (17.1%), Europe (39.6%), Americas (19.8%), Asia/Pacific (14.5%) and Middle East/Africa/Central Asia (9%).
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