Thierry Philipponnat Explained

Thierry Philipponnat is an economist specialising in finance and on the link between economic theory and practice. He is the Chief Economist of Finance Watch.[1]

Career

Educated in France and in the United States, he is a graduate of Institut d'Etudes Politiques de Paris and holds a master's degree (diplôme d’études approfondies) in economics.[2]

Philipponnat was a banker and a financial markets professional for twenty years.[3] In 2004, he became a member of the Executive Committees of Euronext and of the London Financial Futures and options Exchange (LIFFE).

Since 2006, he has been focusing on the study of the link between the economy, finance and society. He was a member of the Executive Board of Amnesty International France [archive] and became involved in different campaigns related to the impact of business on human rights. In 2009 and 2010, he represented Amnesty International with United Nations Secretary-General's Special representative on Business and Human Rights John Ruggie and with the European Commission on Corporate Social responsibility issues.

He founded Finance Watch[4] in April 2011 as an NGO specialised in financial regulation, and led the organisation until May 2014.[5] During his mandate, he intervened on many occasions in parliamentary hearings in Brussels (European Parliament), Paris, Berlin and London, on European financial regulations issues, on national regulations dealing with banking structure, on the financial crisis and on the Libor and Euribor scandals and high frequency trading.

In April 2013, he received the Theodor Heuss medal[6] in Stuttgart on behalf of Finance Watch in recognition of the work done for the public interest. On 7 October 2013, he gave the inaugural lecture[7] of Université catholique de Louvain on the necessity to strike the right balance between private interests and public interest.[8]

He was then the director of the economic think tank Institut Friedland,[9] and a member of the French Sustainable Investment Forum,[10] an organisation that he chaired between June 2015 and June 2017.[11]

In 2019, he joined Finance Watch again as Head of Research and Advocacy,[12] where his research has since focused on the link between prudential regulation, financial stability and the economy,[13] [14] on the impact of climate change on financial stability,[15] [16] [17] on sustainable finance,[18] [19] on developing sustainable fiscal policies,[20] [21] and on designing a social taxonomy aimed at promoting an inclusive and socially sustainable economy.

He held a regulation mandate with French Prudential Supervision and Resolution Authority (Autorité de Contrôle Prudentiel et de Résolution) where he is a member of the Sanctions Committee,[22] the Scientific Committee[23] and the Climate and Sustainable Finance Commission. Between 2015 and 2022, Philipponnat also served as a regulator within the Autorité des marchés financiers (France) (French Financial Markets Authority) as a member of the Board[24] and chair of the Climate and Sustainable Finance Commission[25] [26] [27] as well as the Markets and Exchanges Consultative Commission.[28] In 2022, he resigned from the AMF in response to a former banking lobbyist and government official's appointment to the AMF chair.[29]

In January 2020 he became a member of the European Commission's Technical Expert Group on sustainable finance[30] and in October of the same year he was appointed as a member of the European Commission's Platform on sustainable finance[31] [32] and a member of the subgroup advising the European Commission on the extension of the EU Taxonomy of sustainable activities to social objectives.

In April 2021, the policy proposals made in his report Breaking the climate-finance doom loop were recognised by an international panel of 50 banks, NGOs, academics, regulators and investors as the most impactful and feasible to tackle the link between climate change and financial instability.[33]

Publications

Notes and References

  1. Web site: Finance Watch appoints Thierry Philipponnat as Head of Research and Advocacy. Finance Watch. 21 October 2019 . en. 2020-02-03.
  2. News: Thierry Philipponnat. 2016-09-09. Institut Friedland. 2017-10-19. fr.
  3. News: Un trublion de la finance nommé au sein de l'Autorité des marchés financiers. Charrel. Marie. 2013-11-28. Le Monde.fr. 2017-10-13. fr. 1950-6244.
  4. Web site: Thierry Philipponnat nommé à l'AMF. 2013-11-26. FIGARO. 2017-10-19.
  5. Web site: Surveiller la finance - Portail territorial. Territorial. www.territorial.fr. 2017-10-19.
  6. Web site: Theodor Heuss Stiftung / 2013. www.theodor-heuss-stiftung.de. de-DE. 2017-10-19.
  7. Web site: Discours de Thierry Philipponnat à l'UCL Mons Finance Watch. Ford. Greg. www.finance-watch.org. en-gb. 2017-10-19.
  8. Web site: Discours de Thierry Philipponnat à l'UCL Mons Finance Watch. Ford. Greg. www.finance-watch.org. en-gb. 2017-10-19.
  9. Web site: Institut Friedland. Institut Friedland. fr. 2017-10-19.
  10. Web site: Forum pour l'Investissement Responsable. 2021. 2021-02-03. fr.
  11. News: France's SIF appoints new President and beefs up board as market awaits major RI reporting evolution. Wheelan. Hugh. RI. 2021-02-03. EN.
  12. Web site: Finance Watch appoints Thierry Philipponnat as Head of Research and Advocacy. Finance Watch. 21 October 2019 . EN. 2021-02-03.
  13. News: How can safer banks hurt the EU economy? . 3 February 2021 . Better Regulation . 11 December 2019.
  14. News: McGill . Peter . Covid-19: European bank trading books pose financial stability risks . 3 February 2021 . Global Risk Regulator . 8 June 2020.
  15. News: Vincent . Matthew . Threat from climate change to financial stability bigger than Covid-19 . 3 February 2021 . Financial Times . 7 June 2020.
  16. News: Vincent . Matthew . Big US investors urge regulators to treat climate as systemic risk . 3 February 2021 . Financial Times . 21 July 2020.
  17. News: Vadjoux . Thibaud . Thierry Philipponat : " Dans les scénarios climat, le risque essentiel est la perturbation de l'économie entière " . 3 February 2021 . L'AGEFI . 25 September 2020 . FR.
  18. News: Constans . Béatrice . T. Philipponnat (Finance Watch) : "La finance durable doit être réglementée au niveau européen" . 3 February 2021 . Décideurs Magazine . 16 September 2020 . FR.
  19. News: Wheelan . Hugh . French finance regulators unveil monitoring process for ESG and climate, starting in September. . 3 February 2021 . Responsible Investor . 2 August 2019.
  20. Philipponnat . Thierry . 10 Principles for a Sustainable Recovery . 2 October 2020 . Better Regulation . EN.
  21. Web site: Philipponnat . Thierry . Debt sustainability and a sustainable COVID recovery . Finance Watch . 3 February 2021 . EN.
  22. Web site: Commission des sanctions . Autorité de Contrôle Prudentiel et de Résolution . 3 February 2021 . FR . 9 December 2020.
  23. Web site: Comité scientifique . Autorité de Contrôle Prudentiel et de Résolution . FR . 19 March 2020.
  24. Web site: The AMF Board . Autorité des Marchés Financiers . 3 February 2021.
  25. Web site: Climate and Sustainable Finance Commission . Autorité des Marchés Financiers . 3 February 2021 . EN.
  26. News: Wheelan . Hugh . France's AMF regulator names 24 members of new Climate and Sustainable Finance Commission . 3 February 2021 . Responsible Investor . 26 September 2019 . EN.
  27. News: Pugsley . Justin . French regulators clarify mandate for climate and sustainable finance committee . 3 February 2021 . Global Risk Regulator . 2 September 2019 . EN.
  28. Web site: Consultative Commissions . Autorité des Marchés Financiers . 3 February 2021 . EN . 10 December 2019.
  29. Web site: French market regulator resigns in protest at new chair . FT . 14 November 2022 . EN . 27 October 2022.
  30. Web site: Financial Stability, Financial Services and Capital Markets Union . Technical expert group on sustainable finance (TEG) . European Commission . 3 February 2021 . EN . 13 June 2018.
  31. Web site: Financial Stability, Financial Services and Capital Markets Union . Members of the EU Platform on Sustainable Finance . European Commission . 3 February 2021 . EN . 1 October 2020.
  32. News: Husson . Anne-Catherine . Les lobbies industriels font une entrée remarquée dans la plateforme européenne sur la finance durable . Novethic, L’essentiel de la finance durable . 3 February 2021 . 1 October 2020 . FR.
  33. Web site: James Vacarro, David Barmes . Aligning Finance for the Net-Zero Economy: new ideas from leading thinkers . UNEPFI . 17 January 2022 . EN . April 2021.
  34. Web site: 2023-10-31 . Report – Finance in a hot house world Finance Watch . 2024-01-12 . www.finance-watch.org . en-US.
  35. Web site: 2023-05-16 . Policy brief – Regulating ESG ratings to strengthen sustainable investors Finance Watch . 2024-01-12 . www.finance-watch.org . en-US.
  36. Web site: Philipponnat . Thierry . The problem lies in the net - How finance can contribute to making the world reach its greenhouse gas net-zero target . Finance Watch . 13 July 2022 . EN . June 2022.
  37. Web site: Philipponnat . Thierry . 10 Principles for a Sustainable Recovery . Finance Watch . 3 February 2021 . EN . October 2020.
  38. Web site: Philipponnat . Thierry . Debt sustainability and a sustainable COVID recovery . Finance Watch . 3 February 2021 . EN . July 2020.
  39. Web site: Philipponnat . Thierry . Breaking the climate-finance doom loop . Finance Watch . 3 February 2021 . EN . June 2020.
  40. Web site: Philipponnat . Thierry . How can safer banks hurt the EU economy? . Finance Watch . 3 February 2021 . EN . December 2019.
  41. Web site: Negotiating Brexit. Professional. Bloomsbury. Bloomsbury Publishing. en. 2017-10-19.
  42. Web site: Le Capital, de l'abondance à l'utilité. Éditions Rue de l'échiquier. fr-fr. 2017-10-19.
  43. Web site: La capture. Éditions la découverte. 2017-10-19.
  44. Web site: La responsabilité des entreprises en matière de droits de l'homme. www.cncdh.fr. 2017-10-19.
  45. Book: Philipponnat, Thierry. Cheminement en économie non-newtonienne. 1990. La pensée universelle. 9782214085585. fr.

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