The risk management system incorporates risk as a component of all decision-making processes.
The strategic priorities in terms of risk management are decided by the Board of Directors based on input from the Audit and Risk Committee.
Risk management was informed by frequent committee meetings, both cross-functional and focused on specific risk categories. Of particular note for assets were the Investment Committee, the Asset Risk Monitoring Committee, the Strategic Asset Allocation Committee and the Asset/Liability Management Committee.
The Board of Directors has accordingly validated the inclusion of ESG criteria in asset management as part of its
annual review of the investment strategy. The efficiency of the implementation of the approach is demonstrated by the SRI commitment of the two main delegated management companies: Natixis AM, with its dedicated subsidiary Mirova, and LBPAM, which together manage the directly held assets, i.e., more than 70% of the portfolio.
This approach, covered 80% of the portfolio at the end of 2017.