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Mouvement Impact France

MIF

Mouvement Impact France est une association française représentant plus de 15 000 entrepreneurs engagés dans la transition écologique et sociale.

Lobbying Activity

Meeting with Valérie Hayer (Member of the European Parliament)

17 Nov 2025 · Simplification

Meeting with François Kalfon (Member of the European Parliament)

30 Jun 2025 · Développement durable et RSE

Meeting with Arash Saeidi (Member of the European Parliament, Shadow rapporteur)

11 Jun 2025 · Omnibus

Meeting with Elena Martines (Cabinet of Commissioner Ekaterina Zaharieva)

4 Jun 2025 · Invitation to Speak on Startup Financing at a Major European Economic Forum

Response to Revision of EU rules on sustainable finance disclosure

28 May 2025

The SFDR currently serves as a structuring framework for sustainable finance in Europe. Its main strengths include: 1) Increased transparency obligations: The regulation requires financial actors to disclose how they take sustainability criteria into account in their investment decisions. This compels the entire market to reflect on its practices, build expertise on the topic, and thereby fosters greater interest in sustainable finance. 2) A common language: The SFDR introduces key concepts (sustainable investments, sustainability risks, principal adverse impacts, PAI, DNSH, etc.) that become shared references. This improves investor information and allows for a common interpretive framework. 3) A catalyst effect for the sector: The regulation encourages financial players (even those historically less committed) to integrate ESG considerations. This leads to the structuring of internal teams, the upskilling of portfolio managers, and growth in assets under management in sustainable or impact-oriented funds. Despite its contributions, the SFDR presents several notable implementation challenges: 1) An overly complex framework for many stakeholders: The distinction between Articles 6, 8, and 9, while useful for seasoned professionals, remains opaque for most retail investors. The regulation is not designed to be easily understood by savers or private investors, which limits its effectiveness and clarity. Additionally, quarterly PAI reporting obligations are difficult to implement and costly for unlisted investors (including early-stage venture capital or even more mature private companies). 2) Room for interpretation: Definitions of key concepts are too broad and vague. For example, each asset management company defines sustainable investment according to its own criteria, which limits comparability between funds and increases the risk of greenwashing. 3) Asymmetric reporting burden: Article 8 and 9 funds face heavy regulatory pressure, while Article 6 funds (which may pose greater negative impact risks) are not subject to comparable requirements. To strengthen the impact and coherence of the regulation, several improvement areas are a priority: 1) Clarify and standardize definitions: It is essential to clarify the concepts of sustainable investment, significant contribution, and PAI, and align them with other European regulations such as the CSRD and the taxonomy. While an approach based on engagement intensity is valuable, it should be accompanied by clear definitions, especially for retail/private investors who do not always understand the distinctions between Articles 6/8/9. 2) Requirements should be adjusted according to the size of the organization and the specificities of certain actors, such as unlisted invest: For instance, ESG data currently represents a significant cost for investors, professionals, and financial advisors. ors. 3) Strengthen obligations for non-sustainable funds: Article 6 funds should also report and disclose their significant negative impacts and ESG risks, in the interest of regulatory fairness and improved investor information. 4) Mandate a trajectory of improvement: Move beyond transparency requirements by establishing minimum exclusion standards and obligations for continuous practice enhancement. This approach fosters ongoing progress and makes the regulation more effective, particularly in measuring negative externalities and impact-related KPIs.
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Meeting with Jörgen Warborn (Member of the European Parliament, Rapporteur)

26 Mar 2025 · Omnibus

Meeting with Valérie Hayer (Member of the European Parliament)

17 Mar 2025 · Pacte Vert et Omnibus Simplification

Meeting with Pascal Canfin (Member of the European Parliament, Shadow rapporteur)

7 Mar 2025 · Omnibus I

Meeting with Marie Toussaint (Member of the European Parliament)

11 Feb 2025 · Corporate liability and reporting

Meeting with Gilles Boyer (Member of the European Parliament) and Fédération bancaire française and

5 Feb 2025 · Omnibus simplification

Meeting with Valérie Hayer (Member of the European Parliament) and Fédération bancaire française and

5 Feb 2025 · Simplification

Meeting with Pascal Canfin (Member of the European Parliament)

22 Jan 2025 · Simplification CSRD CSDDD

Meeting with Pascal Canfin (Member of the European Parliament)

8 Nov 2024 · Waste Framework Directive

Meeting with Marie Toussaint (Member of the European Parliament)

22 Feb 2024 · Corporate liability

Response to Postponement of deadlines within the Accounting Directive for the adoption of certain ESRS

18 Dec 2023

The reform of the European Union's legal framework for corporate extra-financial reporting (CSRD), supplemented by the adoption of sector-agnostic sustainability standards, applies to companies in all sectors and requires the adoption of additional sector-specific sustainability standards by 2024. However, the European Commission is proposing to delay the adoption of this second set of standards until 2026, which would mean that the information would not be available until 2026 and would only concern a limited number of high-risk sectors. However, the adoption of sector-specific sustainability standards is a major clarification issue for companies operating in high-risk sectors. The sector-agnostic sustainability standards leave it to the future sector-specific sustainability standards to clarify a number of difficult but necessary questions that require disclosure for companies. If the adoption of these standards is postponed, as the European Commission plans to do, companies will be left to answer these questions on their own. As well as increasing the workload for companies, this will inevitably undermine the reliability of the information, particularly for companies reporting for the first time. Furthermore, the information published by companies will not be comparable by investors. It could also open the door to malicious behaviour on the part of certain companies, which could use this loophole to engage in greenwashing. Finally, the adoption of sector-specific sustainability standards also corresponds to a strong demand from banks and investors, who need reliable and comparable information, particularly in order to fulfil their own disclosure obligations. Therefore, in order not to penalise European economic and financial players and not to slow down the sustainable transition of the economy, Mouvement Impact France recommends that the Commission not postpone the adoption of sector-specific sustainability standards. This recommendation can be achieved by building on the technical work already carried out by EFRAG and by giving this body a clear mandate to prioritise the development of these standards. Contact: Malo Bourel - mbourel@impactfrance.eco
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Meeting with Pascal Durand (Member of the European Parliament)

29 Nov 2023 · Impact economy and companies (APA only)

Meeting with Valérie Hayer (Member of the European Parliament)

16 Nov 2023 · Ressources propres et Économie sociale et solidaire

Meeting with Aurore Lalucq (Member of the European Parliament, Shadow rapporteur)

15 Jun 2023 · Investissements d'impact

Meeting with Pascal Durand (Member of the European Parliament)

17 May 2023 · Sustainability matters (APA only)

Meeting with Pascal Canfin (Member of the European Parliament)

15 Feb 2023 · Green Deal

Meeting with Pascal Durand (Member of the European Parliament, Rapporteur for opinion)

27 Jun 2022 · ESAP

Response to Sustainable corporate governance

12 May 2022

Le Mouvement Impact France se félicite de l’adoption le 23 février dernier par la Commission Européenne de sa proposition de directive relative au devoir de vigilance des entreprises en matière de développement durable. Cette législation, qui vise à imposer aux entreprises un devoir de vigilance pour remédier aux atteintes aux droits humains, aux droits sociaux et à l’environnement dans les chaines de valeur mondiales, mais également à améliorer la prise en compte des enjeux environnementaux et sociaux dans la gouvernance et le fonctionnement des entreprises, constitue une avancée non négligeable vers un écosystème économique européen plus durable et respectueux des droits humains. Cependant, si le Mouvement Impact France se félicite de la mise à l’agenda européen des enjeux liés au devoir de vigilance et à la gouvernance durable des entreprises, nous regrettons le faible niveau d’ambition de la proposition de directive de la Commission Européenne. Le Mouvement Impact France appelle donc les décideurs à renforcer la portée de ce texte lors des prochaines discussions.
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Meeting with Marie Toussaint (Member of the European Parliament)

30 Mar 2022 · Due diligence

Meeting with Pascal Durand (Member of the European Parliament)

25 Mar 2022 · RSE (APA only)