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CNP Assurances

PRI reporting framework 2018

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Governance and human resources

SG 07. RI roles and responsibilities

07.1. Indicate the roles present in your organisation and for each, indicate whether they have oversight and/or implementation responsibilities for responsible investment.

Roles present in your organisation

          CSR department
        

07.2. For the roles for which you have RI oversight/accountability or implementation responsibilities, indicate how you execute these responsibilities.

CNP Assurances organizes working groups on RI implementation. We also report on our RI approach and objectives that we have set up for our organization.

07.3. Indicate the number of dedicated responsible investment staff your organisation has.

1.5 Number

07.4. Additional information. [Optional]

CNP Assurances has 1.5 FTE dedicated to responsible investment but no SRI team.

In parallel CNP Assurances works with Mirova, which is an asset manager specialised in responsible investment and a subsidiary of Natixis Asset Management. Mirova employs 72 people.

We also work with LBPAM (La Banque Postale Asset Management). 7 LBPAM employees are dedicated to responsible investment.


SG 07 CC. Climate-issues roles and responsibilities

07.1 CC. Indicate the roles in your organisation, and indicate for each whether they have oversight and/or implementation responsibilities for climate-related issues.

Roles present in your organisation

          CSR department
        

07.1a CC. For the board level roles or for which you have climate-related issues oversight/accountability or implementation responsibilities, indicate how you execute these responsibilities.

CNP Assurances has a Corporate Social Responsibility Department, which reports directly since October 2017 to a Member of the Executive Committee. It also reports to the CEO, the Board of Directors and the Chairman on its activities and its objectives : goals and targets are reported annually in the Management report of the board of directors.

The CSR activities are reported annually in the Management Report of the Board of Directors. This report covers key Climate targets and describes climate-related issues for each asset class. Moreover, the responsible investment strategy is laid down and managed within the framework of the investment strategy approved by the Executive Management and the Board of Directors (included in CNP Assurances Sustainable Investment Charter).

07.1b CC. For the management-level roles which assess and manage climate-related issues, provide further information on the structure and process involved.

Executive management’s climate-related responsibilities include accountability on climate-related performance objectives (KPIs) and implementation of climate-related strategy. The CSR Department is in charge of monitoring climate-related issues for both investment and insurance sides, along with Risk Management Department and Investment Department.

The principles of action are set out in a charter, validated by all the relevant players.

Extract :  CNP Assurances supports the development of assets on specific themes in areas favourable to the environment and social integration […]. CNP Assurances integrates ESG criteria into the management of its assets. In the belief that taking ESG criteria into account in the assessment of an investment contributes to value creation and optimises the yield-to-risk ratio over time, CNP Assurances has over the last ten years gradually deployed a responsible investor strategy covering all of its assets. This management approach reflects the Group's commitments to the Global Compact, the FFA Sustainable Development Charter, the PRIs and the Geneva Association's Kyoto Declaration.

Principles: […]

3. Promote the protection of the environment, the energy and environmental transition, and initiatives to reduce or adapt to climate change;

CNP Assurances mobilizes internal teams to deploy responsible investment in its business.

Principles:

The responsible investment strategy is laid down and managed within the framework of the investment strategy approved by the Executive Management and the Board of Directors.

CNP assurances undertakes to:

  • reflect Articles 1 and 2 in its operations by providing the necessary human and financial resources;
  • communicate publicly each year on the steps taken and the progress made.

Levers:

To this end, all players are committed behind the Executive Management:

The external SRI Monitoring (Committees meet with each partner management company every quarter)

The internal SRI Committee conducts an annual review of the Charter's application and suggests.

Investment Committee and Strategic Allocation Committee monitor the implementation of the Charter each year during the review of the investment strategy and the CSR approach.

The Board of Directors and Audit Committee monitor the implementation of the Charter each year during the review of the investment strategy and the CSR approach.


SG 08. RI in performance management, reward and/or personal development (Private)


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