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Thierry Philipponnat

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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

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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[6] scandals and high frequency trading.

In April 2013, he received the Theodor Heuss medal[7] 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[8] of Université catholique de Louvain on the necessity to strike the right balance between private interests and public interest.[9]

He was then the director of the economic think tank Institut Friedland,[10] and a member of the French Sustainable Investment Forum,[11] an organisation that he chaired between June 2015 and June 2017.[12]

In 2019, he joined Finance Watch again as Head of Research and Advocacy,[13] where his research has since focused on the link between prudential regulation, financial stability and the economy,[14][15] on the impact of climate change on financial stability,[16][17][18] on sustainable finance,[19][20] on developing sustainable fiscal policies,[21][22] 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,[23] the Scientific Committee[24] 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[25] and chair of the Climate and Sustainable Finance Commission[26][27][28] as well as the Markets and Exchanges Consultative Commission.[29] In 2022, he resigned from the AMF in response to a former banking lobbyist and government official's appointment to the AMF chair.[30]

In January 2020 he became a member of the European Commission's Technical Expert Group on sustainable finance[31] and in October of the same year he was appointed as a member of the European Commission's Platform on sustainable finance[32][33] 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.[34]

Publications

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  • Finance in a hot house world - A call for economic models that do not mislead, scenario analyses that prepare the market, and a new prudential tool (Finance Watch,[35] 2023)
  • Regulating ESG ratings to strengthen sustainable investors (Finance Watch,[36] 2023)
  • The problem lies in the net - How finance can contribute to making the world reach its greenhouse gas net-zero target[37] (Finance Watch, 2022).
  • ISR et Finance responsable (Éditions Ellipses, co-author, 2022).
  • Quel est notre futur? (NEF, Ramsay collective book, 2021).
  • 10 Principles for a Sustainable Recovery[38] (Finance Watch, 2020).
  • Debt Sustainability and a sustainable COVID recovery[39] (Finance Watch, 2020).
  • Breaking the climate-finance doom loop[40] (Finance Watch, 2020).
  • How can safer banks hurt the EU economy?[41] (Finance Watch, 2019).
  • Negotiating Brexit[42] (Beck-Hart-Nomos, 2017, collective book led by John Armour and Horst Eidenmüller).
  • Le capital de l'abondance à l'utilité [archive][43] (Rue de l'échiquier, 2017).
  • La capture [archive][44] (La Découverte, 2014, with Christian Chavagneux).
  • La responsabilité des entreprises en matière de droits de l'homme [archive][45] (La Documentation française, 2008 – collective book led by Olivier Maurel – Université Paris XII).
  • Cheminement en économie non-newtonienne [archive][46] (La Pensée universelle, 1990).

References

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  1. ^ "Finance Watch appoints Thierry Philipponnat as Head of Research and Advocacy". Finance Watch. 21 October 2019. Retrieved 2020-02-03.
  2. ^ "Thierry Philipponnat". Institut Friedland (in French). 2016-09-09. Retrieved 2017-10-19.
  3. ^ Charrel, Marie (2013-11-28). "Un trublion de la finance nommé au sein de l'Autorité des marchés financiers". Le Monde.fr (in French). ISSN 1950-6244. Retrieved 2017-10-13.
  4. ^ "Thierry Philipponnat nommé à l'AMF". FIGARO. 2013-11-26. Retrieved 2017-10-19.
  5. ^ Territorial. "Surveiller la finance - Portail territorial". www.territorial.fr. Retrieved 2017-10-19.
  6. ^ Finance Watch (2012-09-27), Thierry Philipponnat (Finance Watch) - Libor/Euribor (au Parlement Europeen), retrieved 2017-10-19
  7. ^ "Theodor Heuss Stiftung / 2013". www.theodor-heuss-stiftung.de (in German). Retrieved 2017-10-19.
  8. ^ Ford, Greg. "Discours de Thierry Philipponnat à l'UCL Mons | Finance Watch". www.finance-watch.org. Retrieved 2017-10-19.
  9. ^ Ford, Greg. "Discours de Thierry Philipponnat à l'UCL Mons | Finance Watch". www.finance-watch.org. Retrieved 2017-10-19.
  10. ^ "Institut Friedland". Institut Friedland (in French). Retrieved 2017-10-19.
  11. ^ "Forum pour l'Investissement Responsable" (in French). 2021. Retrieved 2021-02-03.
  12. ^ Wheelan, Hugh. "France's SIF appoints new President and beefs up board as market awaits major RI reporting evolution". RI. Retrieved 2021-02-03.
  13. ^ "Finance Watch appoints Thierry Philipponnat as Head of Research and Advocacy". Finance Watch. 21 October 2019. Retrieved 2021-02-03.
  14. ^ "How can safer banks hurt the EU economy?". Better Regulation. 11 December 2019. Retrieved 3 February 2021.
  15. ^ McGill, Peter (8 June 2020). "Covid-19: European bank trading books pose financial stability risks". Global Risk Regulator. Retrieved 3 February 2021.
  16. ^ Vincent, Matthew (7 June 2020). "Threat from climate change to financial stability bigger than Covid-19". Financial Times. Retrieved 3 February 2021.
  17. ^ Vincent, Matthew (21 July 2020). "Big US investors urge regulators to treat climate as systemic risk". Financial Times. Retrieved 3 February 2021.
  18. ^ Vadjoux, Thibaud (25 September 2020). "Thierry Philipponat : " Dans les scénarios climat, le risque essentiel est la perturbation de l'économie entière "" (in French). L'AGEFI. Retrieved 3 February 2021.
  19. ^ Constans, Béatrice (16 September 2020). "T. Philipponnat (Finance Watch) : "La finance durable doit être réglementée au niveau européen"" (in French). Décideurs Magazine. Retrieved 3 February 2021.
  20. ^ Wheelan, Hugh (2 August 2019). "French finance regulators unveil monitoring process for ESG and climate, starting in September". Responsible Investor. Retrieved 3 February 2021.
  21. ^ Philipponnat, Thierry (2 October 2020). "10 Principles for a Sustainable Recovery". Better Regulation. {{cite journal}}: Cite journal requires |journal= (help)
  22. ^ Philipponnat, Thierry. "Debt sustainability and a sustainable COVID recovery" (PDF). Finance Watch. Retrieved 3 February 2021.
  23. ^ "Commission des sanctions". Autorité de Contrôle Prudentiel et de Résolution (in French). 9 December 2020. Retrieved 3 February 2021.
  24. ^ "Comité scientifique". Autorité de Contrôle Prudentiel et de Résolution (in French). 19 March 2020.
  25. ^ "The AMF Board". Autorité des Marchés Financiers. Retrieved 3 February 2021.
  26. ^ "Climate and Sustainable Finance Commission". Autorité des Marchés Financiers. Retrieved 3 February 2021.
  27. ^ Wheelan, Hugh (26 September 2019). "France's AMF regulator names 24 members of new Climate and Sustainable Finance Commission". Responsible Investor. Retrieved 3 February 2021.
  28. ^ Pugsley, Justin (2 September 2019). "French regulators clarify mandate for climate and sustainable finance committee". Global Risk Regulator. Retrieved 3 February 2021.
  29. ^ "Consultative Commissions". Autorité des Marchés Financiers. 10 December 2019. Retrieved 3 February 2021.
  30. ^ "French market regulator resigns in protest at new chair". FT. 27 October 2022. Retrieved 14 November 2022.
  31. ^ Financial Stability, Financial Services and Capital Markets Union (13 June 2018). "Technical expert group on sustainable finance (TEG)". European Commission. Retrieved 3 February 2021.
  32. ^ Financial Stability, Financial Services and Capital Markets Union (1 October 2020). "Members of the EU Platform on Sustainable Finance". European Commission. Retrieved 3 February 2021.
  33. ^ Husson, Anne-Catherine (1 October 2020). "Les lobbies industriels font une entrée remarquée dans la plateforme européenne sur la finance durable". Novethic, L’essentiel de la finance durable (in French). Retrieved 3 February 2021.
  34. ^ James Vacarro, David Barmes (April 2021). "Aligning Finance for the Net-Zero Economy: new ideas from leading thinkers" (PDF). UNEPFI. Retrieved 17 January 2022.
  35. ^ "Report – Finance in a hot house world | Finance Watch". www.finance-watch.org. 2023-10-31. Retrieved 2024-01-12.
  36. ^ "Policy brief – Regulating ESG ratings to strengthen sustainable investors | Finance Watch". www.finance-watch.org. 2023-05-16. Retrieved 2024-01-12.
  37. ^ Philipponnat, Thierry (June 2022). "The problem lies in the net - How finance can contribute to making the world reach its greenhouse gas net-zero target" (PDF). Finance Watch. Retrieved 13 July 2022.
  38. ^ Philipponnat, Thierry (October 2020). "10 Principles for a Sustainable Recovery" (PDF). Finance Watch. Retrieved 3 February 2021.
  39. ^ Philipponnat, Thierry (July 2020). "Debt sustainability and a sustainable COVID recovery" (PDF). Finance Watch. Retrieved 3 February 2021.
  40. ^ Philipponnat, Thierry (June 2020). "Breaking the climate-finance doom loop" (PDF). Finance Watch. Retrieved 3 February 2021.
  41. ^ Philipponnat, Thierry (December 2019). "How can safer banks hurt the EU economy?" (PDF). Finance Watch. Retrieved 3 February 2021.
  42. ^ Professional, Bloomsbury. "Negotiating Brexit". Bloomsbury Publishing. Retrieved 2017-10-19.
  43. ^ "Le Capital, de l'abondance à l'utilité". Éditions Rue de l'échiquier (in French). Retrieved 2017-10-19.
  44. ^ "La capture". Éditions la découverte. Retrieved 2017-10-19.
  45. ^ "La responsabilité des entreprises en matière de droits de l'homme". www.cncdh.fr. Retrieved 2017-10-19.
  46. ^ Philipponnat, Thierry (1990). Cheminement en économie non-newtonienne (in French). La pensée universelle. ISBN 9782214085585.