The French Banking Federation (FBF) called on the European Commission to establish “coherent” regulations on the financing of the defense sector, hoping that French banks remain “long-term partners” of this industry, we learned on Wednesday. AFP.
The defense sector is justified in explaining that it contributes to the security and sovereignty objectives sought by the Commission and the Member States, and in pleading for the taking into account of a strategic exception, judges the FBF in a document sent to the Commission and transmitted to the press.
The professional federation believes, for example, that the EU should not consider defense activities as harmful activities in its current future frameworks, which would reduce the possibilities of having them financed by banks.
She also wants to establish an exception for players in the defense sector from the duty of vigilance of companies, on which the EU agreed in December.
The French banking lobby wants in particular to avoid the liability of the seller being brought into play in the context of the use of equipment by a State.
It seems important to ensure coherence between European policies and commitments in terms of ESG (environmental, social and corporate governance issues, Editor’s note) and defense, believes the FBF.
These recommendations follow the consultation launched in December by the European Commission with financial players in order to develop a European defense industry strategy.
The professional federation wished to recall that the French banking sector was a major player in financing the defense sector and that French banks were among the 15 most active in this area globally.