In the Pannier-Runacher family, here is the father and his grandchildren. The investigative media Disclose reported on Tuesday, November 8, that the children of the Minister for Energy Transition, Agnès Pannier-Runacher, owned a company based on funds partly domiciled in tax havens.
The minister’s father, Jean-Michel Runacher, created this civil society in France in 2016, named Arjunem, as part of a transmission of assets. He contributed about 1.2 million euros in shares, according to the Disclose investigation. This heritage would come from hedge funds, based in Delaware, Ireland and Guernsey. Funds in which the oil company Perenco, of which Jean-Michel Runacher was then one of the managers, also held investments.
Four of Jean-Michel Runacher’s grandchildren are now Arjunem’s partners. Among them are the three children of Agnès Pannier-Runacher, who were then minors, and for whom the minister signed as legal representatives.
“It is not about my heritage, but that of my children who, themselves, have no power to manage the company to date”, underlines Agnès Pannier-Runacher, interviewed by Disclose and AFP. According to her, her children are only bare owners and do not receive any dividend, her father remaining the usufructuary.
Do the amounts paid come from the oil industry? On the origin of the funds, the minister sends the ball back to her father. She is content to specify that Jean-Michel Runacher “contributed fund units that have no connection with Perenco”of the “investments acquired in the past as part of his personal investments”.
Despite “a possible conflict of interest” mentioned by Disclose, Agnès Pannier-Runacher explains that she did not mention Arjunem in her declarations of interests and assets, because she had no “not to declare this structure”. Indeed, the law obliges him to declare his direct participations and those of his spouse, but not those of his children.
The minister also sees no conflict of interest between her ministerial duties and her father’s former activities. “I did not have to deal with any files related to Perenco”who “does most of its business outside of France”she assures.
Solicited by Disclose, the anti-corruption association Anticor denounces “a situation of conflict of interest” touching Agnès Pannier-Runacher after the revelation of the existence of Arjunem. The High Authority for Transparency in Public Life recalls, in general, that “the absence of a declarative obligation does not exempt the public official from taking care to prevent and put an end to situations of conflict of interest which would arise from other indirect interests held, such as the activity of children or other members of family”.
On the side of the National Assembly, the “rebellious” deputy Clémence Guetté wonders about “probity” to accelerate on renewable energy“a minister whose indirect financial interests are visibly linked to oil companies”. “Minister for Energy Transition or oil interests, you have to choose”believes his colleague Danielle Simonnet.
“It is not this article which must decide the fate of the minister”defended Loïc Signor, spokesperson for the Renaissance presidential party, of which the minister is a member. “It’s up to the government, to the President of the Republic” to decide, we explain within the formation.