Julie EVAIN
Research Fellow – Financial regulation, Prudential transition plansJulie joined I4CE in 2018 and works as Project Manager on financial regulation and climate change.
Her research interests focus on the integration of climate change issues into prudential regulation and supervision of banks and financial markets. As such, she is a member of the Climate and Sustainable Finance Commission of the French market supervisor (Autorité des Marchés Financiers). She also follows more broadly the issues related to green and sustainable finance as well as the analysis of climate risks for financial actors. Julie also teaches at the Ecole Nationale des Ponts et Chaussées.
Graduate of a Master’s degree in International Affairs and Environmental Policy at Sciences Po, she previously worked at the French National Assembly, at a consulting firm and at the French Ministry of the Environment, where she was co-rapporteur of the report French strategy of green finance.
Last contributions
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07/06/2024
Foreword of the week
EU election time: climate policy and finance challenges under scrutiny
This weekend, citizens across the EU head to the polls. Many expect a swing to the right, in stark contrast to the “green wave” of 2019. In Brussels, leaders are looking ahead to a five-year mandate dominated by questions of security and competitiveness. In these turbulent times, what is the future of Europe’s flagship climate package, the Green Deal? The Green Deal and the Fit for 55 package gave us the regulatory framework – but implementation requires investment. I4CE's flagship EU Climate Investment Deficit report shows that climate spending must double to make the 2030 target achievable. -
25/04/2024
Special issues
I4CE’s recommendations to the European Banking Authority on prudential transition plans
The European Banking Authority (EBA) is clarifying how the banks should frame their “transition plan” as required by the EU prudential regulation. The transition plan is the bank’s strategic roadmap to prepare for the transition to a sustainable economy as framed by the jurisdictions they operate in, including an EU climate-neutral economy. It has been introduced in several EU regulatory frameworks, including as a disclosure requirement arising from the CSRD. The prudential framework and the EBA are focusing on a specific angle: how the banks plan to manage their financial risks related to the transition. EBA’s framing of these plans will be key to determine whether the banks will manage their financial risks consistently with the broader need of financing the transition to a low-carbon economy. -
11/04/2024
Special issues
I4CE’s recommendations to the Basel Committee on the disclosure of climate-related risks
After a first step in 2022, the Basel Committee on Banking supervision is finally moving towards regulation for climate-related risks. Founded in 1974, this forum brings together financial supervisors of the G20 countries and establishes the common standards for financial stability. Two years ago, the Committee published a consultative document on the principles of climate […] -
26/01/2024
Foreword of the week
Failing to plan is planning to fail: Prudential transition plans and European Banking Authority consultation
After nearly 4 years of negotiations, the European Union has just reached an agreement to reform the Capital Requirements Directive (CRD) for banks. The inclusion of climate change is a major step forward: banks will have to draw up prudential transition plans, supervised by the European Central Bank. These plans will complement the European regulatory architecture that is being put in place for large companies, with the Sustainability Reporting Directive (CSRD) and the Due Diligences Directive (CSDD). Are these banking transition plans a sufficient breakthrough to finally commit banks to climate neutrality? The answer to this question will depend on the implementation of EU legislation.
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25/01/2024
Climate Brief
Prudential transition plans: what’s next after the adoption of the Capital Requirements Directive?
The European Union has just adopted the Capital Requirements Directive (CRD) and introduced a new feature: transition plans will now integrate prudential regulations. This paper looks at the major opportunity represented by prudential transition plans and the decisive role that the European Banking Authority will play. It explains why the Authority should adopt a comprehensive definition of banking transition plans and how these plans should be consistent with the European directives on Corporate Sustainability Reporting (CSRD) and on Due Diligences (CSDDD). -
25/11/2022
Foreword of the week
Financial regulators must strengten their game
One year ago the creation of the Glasgow Finance Alliance for Net Zero - GFANZ – was announced. The expectations were as big as the numbers: a coalition gathering 500 financial actors representing 130 trillion dollars. Private financial actors were finally stepping in and mobilizing. But one year later, the coalition raises many doubts. On one side it faces criticism from NGOs, and on the other some US actors are considering leaving the coalition under the pressure of members of Republicans Party. -
24/11/2022
Climate Report
Implementing prudential transition plans for banks: what are the expected impacts?
The European Union has made rapid progress on the issue of transition plans for companies and banks. First of all, the CSRD directive obliges each listed company to publish its plan for achieving carbon neutrality by 2050. Published by EFRAG this summer, the standards set for these plans can be considered ambitious and commensurate with the challenges they face. With regards to banks, it is now clear that they will be required to publish their transition plan. What remains under debate is whether these transition plans should be integrated into prudential regulations, which would open the way to numerous possibilities of action and sanctions by supervisors. -
26/04/2022
Climate Report
Include mandatory banking transition plans within Pillar 2
The transition plans aim to establish a progressive decarbonisation strategy by 2050, in line with the European Union’s objectives. The European Central Bank, through Frank Elderson, as well as several NGOs are calling for transition plans to be made mandatory for banks and to be integrated into prudential regulation. This note first looks at why […] -
14/02/2022
Blog post
Finance: I4CE’s recommendations to the Basel Committee
The Basel Committee is finally taking up climate issues! Founded in 1974, this forum which brings together the financial supervisors of the G20 countries and which provides the main guidelines for guaranteeing financial stability has been absent from climate issues since Donald Trump's mandate. It recently published a first consultative document on the principles of climate risk management and supervision. Julie Evain presents the recommendations addressed by I4CE to the Basel Committee. -
23/09/2021
Climate Report
Indexing capital requirements on climate : What impacts can be expected ?
As the main financier of the French and European economies, banks play a key role in financing the transition. Their current contribution in France is in the order of 8 billion euros per year, but this will need to more than double according to estimates by I4CE. To accelerate this shift for banking institutions and to prevent their increasing exposures to climate risks, the debate has tended to revolve around whether or not there is a need to reform prudential requirements. -
01/02/2021
Climate Report
Can financial regulation accelerate the low-carbon transition?
In recent years, financial regulators have encouraged financial actors to take account of “climate risks” in order to ensure both financial stability and the efficient functioning of markets, the two traditional objectives of regulation. This risk-based approach is an important first step, but will it be enough to deliver on climate objectives? -
01/02/2021
Climate Brief
Can financial regulation accelerate the low-carbon transition? Summary for policymakers
In recent years, financial regulators have encouraged financial actors to take account of “climate risks” in order to ensure both financial stability and the efficient functioning of markets, the two traditional objectives of regulation. This risk-based approach is an important first step, but will it be enough to deliver on climate objectives? -
10/07/2020
Blog post
The European Commission’s next challenges for sustainable finance
To accelerate and deepen this work, the new European Commission will adopt a renewed Sustainable Finance Strategy. As the public consultation to define the future directions of this strategy draws to a close, Julie Evain from I4CE points out three challenges to be met in order to integrate climate issues into the financial sector. -
11/03/2020
Climate Report
Integrating Climate-related Risks into Banks’ Capital Requirements
Climate change dynamics are on a trajectory of intensification which may require the use of new and notable measures. The Paris Agreement recognized the urgency of directing financial flows toward low carbon activities and climate-resilient development. However, the latest special Intergovernmental Panel on Climate Change (IPCC) report 1 stated that to limit global warming to 1.5oC, the financial resources directed to green activities are by far insufficient and investments on carbon intensive projects are still far too high. At the same time, climate-related risks continue to potentially endanger the stability of the financial sector and they are only marginally addressed by Basel III capital requirements. -
28/05/2019
Climate Brief
Is financial regulation in France in line with the Paris Agreement?
The financial system has an important role to play in financing the transition of the economy and the drastic reduction of greenhouse gas emissions, and must take into account in its activities the risks that climate change poses to it. The French government has begun to mobilize on the subject, as have the Paris financial […] -
12/03/2019
Climate Brief
Physical climate risk: Investor needs and information gaps
Recent bankruptcy of Californian utility PG&E reckons that companies and their financial stakeholders are already exposed to the potential physical impacts of climate change, also called “physical climate risks”. While risk is at the heart of financial institutions decision-making, only a few of them disclose how their portfolios – with potential PG&Es – are exposed […] -
12/12/2018
Climate Report
Getting started on Physical climate risk analysis in finance
Financial institutions are already exposed to the potential physical impacts of climate change also called “physical climate risks” in finance. These require immediate attention from financial institutions, in order to understand how well prepared are the economic actors that they finance. Yet financial institutions still lack tailored information to analyze their exposure to these […] -
21/11/2018
Climate Brief
Article 173: Overview of climate-related financial dislosure after two years of implementation
In 2015, article 173-VI of the French Energy Transition for Green Growth Act set a global precedent by requiring investors to be transparent on the climate impacts of their investments. After two years of investor climate reporting, covering their activities in 2016 and 2017, what lessons can be drawn from article 173-VI? This is […] -
12/04/2018
Blog post
Edito – I4CE welcomes the holding of the First International Climate Risk Conference for Supervisors
Central bankers are mobilizing against climate risks, advocating for greater transparency, carbon stress tests and regulation of the financial system that integrates these risks. On April 6, close to 200 employees of central banks and financial supervisors, at the initiative of the Dutch Central Bank (DNB), the Bank of England, the Banque de France […]