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Since signing the Montreal Carbon Pledge in May 2015, CNP Assurances has been committed to publishing the carbon footprint of its equity investments portfolio for COP 21. It has met this commitment by announcing, on the occasion of the Novethic Annual Event, a carbon footprint related to direct holdings of listed shares estimated at 0.470 teq CO2/thousand euros invested at 31/12/2014.
As a responsible and long-term investor, CNP Assurances wants to go further and has set a target to reduce this
carbon footprint of its directly held equities portfolio by 20% by 2020. To achieve this it is taking a proactive
approach, which includes a dialogue with the companies of which it is a shareholder on their policy for reducing
greenhouse gas emissions.
Over the first 10 months of 2015, the reduction in the carbon footprint of the equity portfolio of CNP Assurances
was estimated at 5%, a satisfactory result for continuing the work with the companies. However, this indicator is
incomplete since it does not give sufficient recognition to the companies’ positive actions to promote energy
transition. CNP Assurances supports the methodological developments of Carbone 4 for measuring the carbon
impact of companies and taking into account avoided emissions. In fact, the Carbon Impact Analytics methodology
provides a measurement of avoided emissions and a forward-looking indicator of the contribution of companies to
the transition.
In 2015, CNP Assurances will have sold almost €300 M of bonds in coalmining and coal-based energy
producing companies. At the end of the year it will no longer have any direct holding in listed shares and bonds in
companies whose turnover is more than 25% derived from coal.
In future, CNP Assurances undertakes no longer to invest directly in listed shares and debt instruments of
companies whose turnover is more than 15% derived from thermal coal.
Buoyed by its progress in 2015, CNP Assurances has raised its target and is committed to doubling the volume
of its green investments (infrastructures, private equity and green bonds) from €800 M to date, to reach €1.6 M
by the end of 2017.
Furthermore, it has just announced with the Meridiam management company that it is
initiating the launch of an infrastructure fund to finance the TEE (Energy and Ecological Transition), Meridiam
Transition, and has subscribed to the Tera Neva green bonds issued by the European Investment Bank and
structured by BNP Paribas.
Lastly, CNP Assurances, which has just signed the Charter for energy efficiency in tertiary sector buildings, will
reduce the energy consumption of its property portfolio by more than 20% by 2020, from the reference year of 2006, as a continuation of the actions initiated during the Grenelle Environment Forum in 2007. For this purpose,
it has already launched a programme of work of almost €150 M and estimates that it is half way to meeting its
target.
“As a player in the sustainable economy, for several years now we have followed a strategy as a responsible
investor, strengthened on the one hand by the integration of ESG criteria into the management of 80% of our
assets and, on the other hand, by signing the Montreal Carbon Pledge. We are convinced that these new
commitments will benefit our insured and secure the profitability of their investments over the long term,” comments Frédéric Lavenir, Chief Executive Officer of CNP Assurances.
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