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CNP Assurances

PRI reporting framework 2018

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You are in Direct - Fixed Income » ESG incorporation in actively managed fixed income » (A) Implementation: Screening

(A) Implementation: Screening

FI 04. Types of screening applied

04.1. Indicate the type of screening you conduct.

Select all that apply
SSA
Corporate (financial)
Corporate (non-financial)
Negative/exclusionary screening
Positive/best-in-class screening
Norms-based screening

04.2. Describe your approach to screening for internally managed active fixed income

Since 2008, CNP Assurances has excluded manufacturers of cluster munitions and anti-personnel mines. Since 2012 , bonds have been excluded or limited on the basis of issuer compliance with ESG and Global Compact principles. We also exclude SSA and corporate bonds from countries that we consider as sensitive (level of democracy and freedom , perception of corruption, tax heaven, non-cooperative states and territories, known as NCSTs, and embargoed states, countries subject to counter measures by the FATF. We exit coal of our portfolio :

CNP Assurances has set two limits. Excluding the acquisition of new financial assets: companies mining coal or producing coal-based energy when more than 15% of their revenue is derived from thermal coal. Exclusion from the portfolio of financial assets: companies mining coal or producing coal-based energy when more than 25% of their revenue is derived from thermal coal.

04.3. Additional information. [Optional]


FI 05. Negative screening - overview and rationale

05.1. Indicate why you conduct negative screening.

SSA

SSA

Corporate (financial)

Corporate (fin)

Corporate (non-financial)

Corporate (non-fin)

05.2. Describe your approach to ESG-based negative screening of issuers from your investable universe.

SSA: we conduct negative screening for legal reasons (countries under embargo and non-cooperating countries) and for non legal reasons (ESG criterias: non-democratic countries, those where freedom is infringed as rated by Freedom House, and countries poorly rated by Transparency International. We also exclude tax havens)

Corporate (financial): for the same reason than SSA. we also conduct negative screening for non-legal reasons (we do not invest in companies that do not respect the Global Compact principles)

Corporate (non financial): for the same reason than SSA . we also conduct negative screening for legal reasons (we exclude cluster munitions and anti-personnel mines manufacturers) and for non legal reasons (coal, global compact).

05.3. Additional information. [Optional]


FI 06. Examples of ESG factors in screening process (Private)


FI 07. Screening - ensuring criteria are met

07.1. Indicate which systems your organisation has to ensure that fund screening criteria are not breached in fixed income investments.

Type of screening
Checks
Negative/exclusionary screening?

07.2. Additional information. [Optional]


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