Date: November 2022

Investigative Europe, an online investigative journalism platform, revealed a possible conflict of interest for Agnès Pannier-Runache, the French energy transition minister. Her father, Jean-Michel Runacher, and former director of the major oil and gas company Perenco, set up a company with the ministers as shareholders. Funds for this investment originated from three hedge funds in which Perenco is a major investor.

The company in question has been mired in controversy for years and accused by multiple NGOs of environmental damage and human rights abuse around the world. According to reports, the minister chose not to disclose her conflict of interest on two separate occasions, in 2018 and 2020, choosing instead to remain silent by not reporting the existence of the company to the French regulatory authorities. French laws on the transparency of public life only demand she declare her direct positions in companies, as well as those of her spouse.

Shares held by ministers’ minor children are not subject to disclosure. However, according to High Authority for the Transparency of Public Life (HATVP): “The absence of disclosure obligation does not exempt a public official from taking care to prevent and put an end to situations of conflict of interest arising from other indirect interests held, such as the activities of children or other family members.”