French Green Public Label

Novethic has been selected by the French Ministry of the Environment, Energy and Marine Affairs as an auditor of the French Label for the Energy and Ecological Transition. Launched in late 2015, this certification is awarded to investments focused on financing the ecological and energy transition. From the standpoint of investors, this green certification ensures the transparency and quality of the environmental characteristics of the financial products in question, confirmed through an audit by an independent third-party expert.



Allianz Green Bond

Allianz Global Investors

The Allianz Green Bonds fund was launched in 2015. Its environmental strategy is to invest mainly in the green bonds of companies engaged in a transition towards a less carbon-intensive business model. Allianz GI has developed its own eligibility grid and monitors environmental KPIs according to the projects financed by the green bonds in the portfolio.

Bridge IV Senior

Edmond de Rothschild Asset Management

Launched in early 2018, BRIDGE IV SENIOR is a Luxembourg based SICAV SIF structure managed by Edmond de Rothschild Asset Management. The fund will be investing with a further focus on Energy and Ecological Transition in all sub sectors of infrastructure in the EU and EA. It is reserved exclusively for professional investors.


Demeter Partners

The FMET fund aims to build a diversified portfolio of equity investments in companies to finance projects or infrastructure in the low-carbon public transport sector. The targeted amount of the fund's investment portfolio is €200m.

NN (L) Euro Green Bond Fund

NN Investment Partners

The NN Euro Green Bond fund was launched in March 2016 and intends to address climate change by participating in the transition to more sustainable investments. The strategy aims to ensure that the investments are truly green.For this purpose NN IP has developed its own in-house eligibility framework to assess the greenness of the bonds and use of proceeds. The fund manager also engages directly with issuers to foster best practices in terms of projects and reporting. The fund is actively managed with a focus on bond selection and performance.

Learn more about this fund (in french)

SCOR Infrastructure Loans III

SCOR Investment Partners

The fund SCOR Infrastructure Loans III is a «Fonds Commun de Titrisation (FCT) » launched in early 2018. It invests in long-term debt aiming to fund infrastructure projects in support of the energy transition (for instance renewable energy, rail transport, energy recovery). The fund is exclusively reserved to professional investors.

Learn more about this fund (in french)

New Energy Investors Fund III

Impax Asset Management

The New Energy Investors Fund (NEF) III is a private equity fund managed by Impax Asset Management, a British pioneer in the field of green investments. The fund aims to invest €500m in 10 to 15 renewable energy projects in Europe. The fund is exclusively reserved to professional investors.



The fund CM-CIC Green Bonds, created in June 2017, is intended for a broad customer base keen to take action on improving the quality of the environment.

It provides investors with an access to the rapidly growing green bonds market. CM-CIC AM has defined its own analysis model integrating ESG criteria, to ensure a selection in accordance with the “Green Bonds Principles”.

Learn more about this fund (in french)

InfraGreen III

RGreen Invest

InfraGreen III invests in equity or quasi equity in infrastructures’ assets which aim at creating savings in the use of natural resources and particularly the production of renewable energies in France and all of the European Economic Area.

RGreen Invest had already been awarded this label for its second fund InfraGreen II in 2016.

Learn more about this fund (in french)

Eiffel Energy Transition

Eiffel Investment Group

Supported by the European Investment Bank (EIB), the fund Eiffel Energy Transition is dedicated to fund the green economy.

In particular, it intends to fill a finance gap. The approval of long-term loans requires time and puts project developers at financial risks as the project development is highly capital-intensive. The fund provides these project developers a short term loan in order to bridge the time until he receives a long-term project funding.

Learn more about this fund (in french)

AXA WF planet bonds

AXA Investment MAnagers

The AXA WF Planet Bonds fund has been launched end of 2015. It is mainly invested in Green Bonds.

The investment approach of AXA IM is a combination of several steps: a qualitative environment assessment for each project, an ESG analysis of the issuer and, eventually, an evaluation of the financial characteristics of the bond.

Learn more about this fund (in french)

HGA Obligations vertes ISR

Humanis Gestion d'Actifs

Humanis Gestion d'Actifs’ HGA Obligations Vertes SRI fund invests in bonds from European local authorities and businesses with strong green credentials.

The fund assesses the environmental impact of its investments, with a particular emphasis on CO2 avoidance and reduction.

Learn more about this fund (in french)

InfraGreen II

RGreen Invest

On 28 June, RGreen Invest was awarded TEEC certification for its second InfraGreen II fund, which invests in renewable infrastructure.

Novethic’s auditors found that RGreen Invest was making a positive contribution to climate change and energy and ecological transition objectives.

Learn more about this fund (in french)

Sycomore Eco Solutions

Sycomore AM

Sycomore Eco Solutions received the first French Label for the Energy and Ecological Transition label awarded by Novethic on 17th May.

This European equity fund invests in companies whose business model, products, services or production processes are linked to the energy transition. It invests in ecological industries and companies that have already started their transition.

Learn more about this fund (in french)

Novethic, an expert and independent auditor


Novethic has been identifying financial products with environmental and/or social value added for investors since 2009. Having created and coordinated its own certification, it is now placing its dual experience as a specialised auditor and as a promoter of the concept of certifying financial products on environmental and social criteria at the service of the French Label for the Energy and Ecological Transition.

Since 2 March 2016, Novethic has been qualified to receive certification applications from equity funds, green bond funds, infrastructure funds and private equity funds and conduct audits consistent with the guidelines of the Ministry of the Environment, Energy and Marine Affairs.

Each criterion in those guidelines will be thoroughly assessed to guarantee the quality and transparency of certified funds relative not only to their management methods but also to their contribution to the energy transition.

Novethic will then promote the certified funds by highlighting their characteristics and certification on its website and at presentations made in France and internationally by the Novethic teams.



To guarantee the environmental qualities of certified funds, the specifications drawn up the Ministry of the Environment, Energy and Marine Affairs stipulate the minimum proportion of green activities of the companies in the portfolio in the form of a detailed sector-based analysis grid.

The specifications also provide for the exclusion of businesses directly involved in the nuclear and fossil fuel sectors and those having seriously violated the principal international standards on human rights and environmental protection.

The certification is awarded for one year.



The French Label for the Energy and Ecological Transition covers a broad range of funds dedicated to financing the green economy, including funds invested in listed equity, private equity, green bond and infrastructure (renewable energy farms, collective transport, etc.).
Funds currently in the creation process may apply providing their investment strategy formally ensures that they can guarantee the respect of the French Label for the Energy and Ecological Transition criteria.

To apply for the French Label for the Energy and Ecological Transition, applicants simply contact the Novethic research centre, which will organise the application process.

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