CNP Assurances’ mission is to protect people over potentially extensive periods of time. We are therefore naturally committed to the very long-term value of our assets, which is why we make sustainable financial investments.
Our contribution to the energy and environmental transition involves strengthening the climate criterion when managing our portfolio.
CNP Assurances has been a signatory to the Principles for Responsible Investment (PRI) since 2011, selecting its investments according to environmental, social and governance (ESG) criteria.
At the end of 2021, 89% of CNP Assurances' investments are managed with environmental, social and governance (ESG) criteria for euro and unit-linked portfolios (97% for euro portfolios).
A steadfast commitment to the climate
In accordance with the Paris Agreement, CNP Assurances has set ambitious climate targets in favour of the climate. We are taking action by proactively reducing the portfolio’s carbon footprint, particularly by investing very heavily in building renovation.
CNP Assurances has already exceeded two of the three main climate targets that the Group had set in 2015 :
And by making substantial investments in energy transition.
To raise the bar in its fight against global warming, CNP Assurances has made the following commitments:
- Stop immediately the financing of any new fossil oil or gas exploration or production project (conventional or non-conventional), or any new direct investment in a company in the sector as long as it is developing new fossil oil or gas exploration or production projects (conventional or non-conventional);
- Achieving a carbon-neutral investment portfolio by 2050 through joining the Net-Zero Asset Owner Alliance;
- Reduce the carbon footprint (scopes 1 and 2) of its directly held equity and corporate bond portfolio by a further 25% between 2019 and 2024;
- Reduce the carbon footprint (scopes 1 and 2) of its directly held property portfolio by a further 10% between 2019 and 2024;
- Reduce by a further 17% between 2019 and 2024 the carbon intensity (scopes 1 and 2) of electricity producers in which CNP Assurances is a direct shareholder or bondholder;
- Engage 8 companies (6 directly and 2 via the Climate Action 100+ collaborative initiative) and 2 asset managers to encourage them to adopt a strategy aligned with a 1.5°C scenario by the end of 2024;
- Doubling its green investments by 2023 to reach €20bn (including forests, green bonds, energy-efficient buildings and green infrastructure);
- Achieving zero exposure to thermal coal in its investment portfolio by 2030 in European Union and OECD countries and by 2040 throughout the rest of the world;
- Divesting from companies with more than 20% of turnover linked to thermal coal;
- To no longer invest directly in oil and gas sector companies (exploration, drilling, extraction, processing, refining) whose revenue is more than 10% related to non-conventional fossil fuels (oil sands, shale oil and gas, oil and gas from the Arctic zone);
- Conduct rigorous shareholder dialogue with companies in the sector to support them in their energy transition and ask them to adopt a strategy aligned with a 1.5°C scenario;
- Setting up a Climate Risk Committee in 2019 to monitor initiatives to include climate risk in every aspect of the business (investment, insurance and internal operations).
For more information: download the 2021 Sustainable Investment Report
Considering the impact of our investments on society and the environment
Since 2006, CNP Assurances has taken a comprehensive responsible-investment approach in accordance with the specific nature of each sub-fund of assets:
New climate targets for 2025
- Strengthen fossil fuel exclusion policy (oil, gas, coal)
- Increase of its green investment target to reach €25bn of AUM by the end of 2025
- Target further reduction of the investment portfolio’s carbon footprint by 2025
- First policy governing investments in the oil and gas sector
- Signature of the Tobacco-Free Finance Pledge
- Adoption of a definitive thermal coal exit plan
- Commitment to a carbon-neutral investment portfolio by 2050
- Adoption of a stricter coal policy
- Increase in the green investment target
First public report on the incorporation of ESG criteria into the investment strategy
- First climate strategy with quantitative targets for green investments and reduction of the carbon footprint in the investment portfolio
- First policy governing investments in the coal sector
Exclusion of offshore financial centres
Signature of the Principles for Responsible Investment (PRI)
Exclusion of cluster bomb and anti-personnel mine manufacturers
First implementation of a best-in-class ESG approach across the entire share portfolio
CNP Assurances has therefore consistently proven its strong commitment to a future where global warming would be limited to 1.5°C at the end of this century.