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CNP Assurances

PRI reporting framework 2018

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Asset class implementation not reported in other modules

SG 16. ESG issues for internally managed assets not reported in framework

Describe how you address ESG issues for internally managed assets for which a specific PRI asset class module has yet to be developed or for which you are not required to report because your assets are below the minimum threshold.

Asset Class

Describe what processes are in place and the outputs or outcomes achieved

Forestry

CNP Assurances is France’s largest private owner of woodland, with 55 316 hectares at 31 December 2017. Société Forestière, a 50%-owned subsidiary, is a committed player in sustainable forest management aimed at preventing fires, promoting biodiversity and anticipating the effects of climate change. In 2003, in addition to ISO 9001 certification, all of CNP Assurances’ woodland assets were certified by the PEFC, which guarantees that the timber comes from sustainably managed forests.

In 2017, the growth of CNP Assurances’ trees helped sequester 512,258 tonnes of CO2. After deducting timber sold or cut down during the year, a net 218,692 tonnes of CO2 was added to the sequestered total in 2017.

The Sustainable Management Charter approved in 2001 formalises commitments for sustainable management respecting biodiversity and anticipating climate change. The climate change issue is a key factor in managing CNP Assurances’ forests. In order to ensure the long-term health and value of the woodland, the management company selects transitional tree species adapted to current and future climates, and pays increasing attention to the soil moisture reserves in areas where new trees are being planted.

16.2. Additional information [Optional].

We adress ESG issues for private equity, property and infrastructure assets.


SG 17. ESG issues for externally managed assets not reported in framework

17.1. Describe how you address ESG issues for externally managed assets for which a specific PRI asset class module has yet to be developed or for which you are not required to report because your assets are below the minimum threshold.

Asset Class

Describe what processes are in place and the outputs or outcomes achieved

Private equity

Operating in the private equity business since 1992, CNP Assurances is one of the world’s top 50 institutional investors (number two in France) in private equity funds (2015 EPI ranking). ESG ratings are awarded based on the due diligence process carried out ahead of any investment in a new private equity fund. A total of 18 private equity funds were rated in 2017. In addition, CNP Assurances has invested in several socially beneficial funds in a total amount of nearly €140 million at 31 December 2017. Examples include financing small businesses that have trouble raising capital due to social barriers, and supporting SMEs facing financial hardship.

Property

With €12 billion in property assets in France based on net book values, CNP Assurances is an important player in this market. Management of its property assets is entrusted to specialised companies on the basis of strict specifications that address the need to preserve the environment and ensure the safety of the properties’ users. These include the Sustainable Property Management Charter , and the establishment in 2014 of a “green works charter” to factor in the impact of all co-owned property management agreements on the environment, and on the health and safety of users.

Infrastructure

ESG reporting is also used for new infrastructure investments. In 2017, 67% of infrastructure funds took part in this reporting or provided their own reporting.  Investments in renewable energy infrastructure, sustainable mobility and water and waste treatment represented total assets of €1041 million at 31 December 2017. At the end of 2015, with management company Meridiam, CNP Assurances launched the “Meridiam Transition” infrastructure fund to finance innovative development projects related to the energy transition, local services such as heating systems or energy from recovered waste, electricity and gas grids, and innovative renewable energy.

17.2. Additional information.


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