Sept. 22, 2021

Second report of the Scientific and Expert Committee

Publication of the second set of recommendations of the Scientific and Expert Committee

These new recommendations focus on strategies for aligning financial players with unconventional hydrocarbons - with a mention of the scientific imperative to cease new fossil fuel projects.

"The Scientific and Expert Committee believes that the credibility of the greening of the Paris financial center depends both on an exit from the financing of the coal industry by 2030 in the European Union and OECD countries, and by 2040 in the rest of the world (as recommended by the February 25, 2021 opinion), and on effective support for the fossil fuel industry in its decarbonization process, by integrating the issues related to a just transition.

With a view to aligning with the scientific imperative to halt all new fossil fuel projects and to reduce oil and gas production, the Scientific and Expert Committee is thus publishing its first recommendations on unconventional oil and gas."

The recommendations are structured around:

  • A precise definition of unconventional hydrocarbons: activities and value chain => Recommendations 1 and 2, pages 12/14.
  • A call from the Committee for the definition of a common standard by the Place of good industrial practices to be required from their counterparts => Recommendations 3, page 14.
  • Concrete proposals for criteria for exclusion policies => Recommendations 4, page 20.
  • A clarification of the notion of alignment => Introduction page 25.
  • Seven recommendations for defining a sound alignment strategy => Pages 26/31.
  • The indicators that are required of the Observatory to report on these issues.

The recommendations are available here.