{"id":15727,"date":"2026-04-13T10:33:22","date_gmt":"2026-04-13T09:33:22","guid":{"rendered":"https:\/\/www.covalence.ch\/?p=15727"},"modified":"2026-04-13T10:33:24","modified_gmt":"2026-04-13T09:33:24","slug":"finance-durable-les-exclusions-ethiques-saffinent-2","status":"publish","type":"post","link":"https:\/\/www.covalence.ch\/index.php\/fr\/2026\/04\/13\/finance-durable-les-exclusions-ethiques-saffinent-2\/","title":{"rendered":"Finance durable: les exclusions \u00e9thiques s\u2019affinent"},"content":{"rendered":"\n<p>CHRONIQUE. La complexit\u00e9 des usages et les imp\u00e9ratifs de rendement am\u00e8nent les investisseurs \u00e0 pr\u00e9f\u00e9rer les exclusions comportementales plut\u00f4t que sectorielles<\/p>\n\n\n\n<p><img loading=\"lazy\" decoding=\"async\" width=\"200\" height=\"130\" class=\"alignright wp-image-15220\" style=\"width: 200px;\" src=\"https:\/\/www.covalence.ch\/wp-content\/uploads\/2024\/07\/logo_le_temps_2020.png\" alt=\"\">A l\u2019origine, les exclusions \u00e9thiques appliqu\u00e9es en finance \u00e9taient simples. Certains secteurs d\u2019activit\u00e9 \u00e9taient jug\u00e9s intrins\u00e8quement immoraux: alcool, tabac, pornographie,&nbsp;etc. Depuis quelques ann\u00e9es, ce domaine s\u2019est complexifi\u00e9. Les exclusions relevant de l\u2019investissement responsable deviennent plus cibl\u00e9es, elles incluent \u00e9galement des filtres comportementaux appliqu\u00e9s \u00e0 l\u2019\u00e9chelle des entreprises (voir la chronique de septembre 2025 \u00abFinance durable: l\u2019essor des exclusions bas\u00e9es sur des normes\u00bb). Plusieurs \u00e9v\u00e9nements r\u00e9cents indiquent un renforcement de cette tendance.<\/p>\n\n\n\n<p>Progressivement, les praticiens de la finance durable se distancient d\u2019une approche essentialiste, centr\u00e9e sur l\u2019id\u00e9e qu\u2019il y a de bons et de mauvais produits, pour adopter une d\u00e9marche plus fine. Celle-ci couvre aussi la fa\u00e7on dont un produit est utilis\u00e9, ainsi que les pratiques des entreprises qui sont \u00e9valu\u00e9es de fa\u00e7on individuelle et contextuelle.<\/p>\n\n\n\n<p>Ils comprennent que les produits et services peuvent donner lieu \u00e0 diff\u00e9rents usages, certains consid\u00e9r\u00e9s comme l\u00e9gitimes, d\u2019autres comme contraires aux normes internationales (portant sur les droits humains, le droit international humanitaire ou le changement climatique). <a href=\"https:\/\/www.letemps.ch\/economie\/finance\/finance-durable-les-exclusions-ethiques-s-affinent\" data-type=\"link\" data-id=\"https:\/\/www.letemps.ch\/economie\/finance\/finance-durable-les-exclusions-ethiques-s-affinent\" target=\"_blank\" rel=\"noreferrer noopener\">Suite&#8230;<\/a><\/p>\n\n\n\n<p>Source: <a href=\"https:\/\/www.letemps.ch\/economie\/finance\/finance-durable-les-exclusions-ethiques-s-affinent\" target=\"_blank\" rel=\"noreferrer noopener\">Covalence \/ Le Temps<\/a><\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>CHRONIQUE. La complexit\u00e9 des usages et les imp\u00e9ratifs de rendement am\u00e8nent les investisseurs \u00e0 pr\u00e9f\u00e9rer les exclusions comportementales plut\u00f4t que sectorielles A l\u2019origine, les exclusions \u00e9thiques appliqu\u00e9es en finance \u00e9taient simples. Certains secteurs d\u2019activit\u00e9 \u00e9taient jug\u00e9s intrins\u00e8quement immoraux: alcool, tabac, pornographie,&nbsp;etc. Depuis quelques ann\u00e9es, ce domaine s\u2019est complexifi\u00e9. Les exclusions relevant de l\u2019investissement responsable deviennent&hellip;<\/p>\n","protected":false},"author":665,"featured_media":15220,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"wds_primary_category":1720,"wds_primary_post_series":0,"footnotes":""},"categories":[1720],"tags":[],"post_series":[],"class_list":["post-15727","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-publications-fr","entry","has-media"],"_links":{"self":[{"href":"https:\/\/www.covalence.ch\/index.php\/wp-json\/wp\/v2\/posts\/15727","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.covalence.ch\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.covalence.ch\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.covalence.ch\/index.php\/wp-json\/wp\/v2\/users\/665"}],"replies":[{"embeddable":true,"href":"https:\/\/www.covalence.ch\/index.php\/wp-json\/wp\/v2\/comments?post=15727"}],"version-history":[{"count":1,"href":"https:\/\/www.covalence.ch\/index.php\/wp-json\/wp\/v2\/posts\/15727\/revisions"}],"predecessor-version":[{"id":15728,"href":"https:\/\/www.covalence.ch\/index.php\/wp-json\/wp\/v2\/posts\/15727\/revisions\/15728"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.covalence.ch\/index.php\/wp-json\/wp\/v2\/media\/15220"}],"wp:attachment":[{"href":"https:\/\/www.covalence.ch\/index.php\/wp-json\/wp\/v2\/media?parent=15727"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.covalence.ch\/index.php\/wp-json\/wp\/v2\/categories?post=15727"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.covalence.ch\/index.php\/wp-json\/wp\/v2\/tags?post=15727"},{"taxonomy":"post_series","embeddable":true,"href":"https:\/\/www.covalence.ch\/index.php\/wp-json\/wp\/v2\/post_series?post=15727"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}