As a responsible, long-term investor, CNP Assurances is committed to limiting global warming and meeting the objectives of the Paris Agreement. CNP Assurances was today one of 456 investors, representing assets of more than $41 trillion, to sign the “Global Investor Statement to Governments on the Climate Crisis”. This statement aims to alert governments, ahead of the G7 summit scheduled for 11-13 June, to the urgent need for determined and coordinated action to limit global warming.
Stéphane Dedeyan, Chief Executive Officer of CNP Assurances, says: "This statement from 456 global investors is in line with our climate commitments, and in particular our signing up in 2019 to the Net-Zero Asset Owner Alliance, of which one of the levers of action is to demand public policies that promote a decarbonised economy.”
At the initiative of seven founding partners of the Investor Programme (Asia Investor Group on Climate Change, CDP, Ceres, Investor Group on Climate Change, The Institutional Investors Group on Climate Change, Principles for Responsible Investment and the UNEP Finance Initiative), the Statement calls on heads of government to take action now to:
• Strengthen their 2030 greenhouse gas emission reduction targets ahead of COP26, which will be held in Glasgow in November 2021
• Commit to a domestic target of net zero emissions by mid-century and set a pathway with ambitious intermediate targets, including clear decarbonisation roadmaps for each carbon-intensive sector
• Implement national policies to achieve these goals, encourage private investment in zero-emission solutions, end fossil fuel subsidies, phase out coal-fired power generation and develop just transition plans for the workers and territories affected
• Ensure that post-COVID-19 economic stimulus packages support the transition to net zero emissions and build resilience in our economies
• Commit to implementing mandatory climate risk disclosure requirements aligned with the Task Force on Climate-related Financial Disclosures (TCFD) recommendations.
We encourage other investors to join this declaration, which remains open for further signatories until COP26.
As a responsible investor, CNP Assurances is committed to limiting global warming. In February 2021, it set ambitious new climate targets for 2025, based on current scientific knowledge and with the aim of achieving carbon neutrality for its investment portfolio by 2050:
• To reduce the carbon footprint (scope 1 and 2 emissions) of its directly held equity and corporate bond portfolio by an additional 25% between 2019 and 2024
• To reduce the carbon footprint (scope 1 and 2 emissions) of its directly held real estate portfolio by an additional 10% between 2019 and 2024
• To reduce the carbon intensity (scope 1 and 2 emissions) of the electricity producers in which CNP Assurances is a direct shareholder or bondholder by a further 17% between 2019 and 2024
• To engage with eight companies (six directly and two via the collaborative Climate Action 100+ initiative) and two asset managers to encourage them to adopt a strategy aligned with the 1.5°C global warming scenario by the end of 2024.