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Comgest

PRI reporting framework 2018

You are in Strategy and Governance » ESG issues in asset allocation

ESG issues in asset allocation

SG 13. ESG issues in strategic asset allocation

New selection options have been added to this indicator. Please review your prefilled responses carefully.

13.1. Indicate if your organisation executes scenario analysis and/or modelling in which the risk profile of future ESG trends at portfolio level is calculated.

13.2. Indicate if your organisation considers ESG issues in strategic asset allocation and/or allocation of assets between sectors or geographic markets.

We do the following

          Used emissions/environmental (GHG, water, etc) data, wages data, diversity data to inform investment decision making
        

13.3. Additional information. [OPTIONAL]


SG 14. Long term investment risks and opportunity

14.1. Describe the process used to identify short, medium and long-term risks and opportunities that could have a material impact on your organisation and its activities.

A formal risk mapping is regularly updated by the compliance and risk department based on inputs from each team.

In addition the Supervisory Board of Comgest challenges the Executive Board on future risks and opportunities.

As Comgest is an independent partnership (with a flat and entrepreunarial organisation), any employee/partner may report risks/opportunities on an ongoing basis and/or bring this kind of discussion during our bi-monthly townhall meetings and more formally at the AGM. Several projects have been launched to investigate the long-term risks/opportunities in 2017.

 

14.1 CC. Describe the processes used to determine which climate-related short, medium and long-term risks and opportunities could have a material impact on your organisation and its activities.

The investment team along with the ESG team coordinated by the CEO/CIO and the Investment Executive Committee identify the climate-related risks and opportunities faced by the investee companies.

As Comgest is located in places of moderate climate events, we have not been able to determine what could be short-term climate-related risks with a potential impact on our organisation and our activities. Most of our short-term climate-related risks and opportunities lie potentially in our investments. That said, our investments usually present low transition risks and low physical risks.

In 2017, we have published our Article 173 reports (as required by law in France), wherein we describe our processes and tools to determine which climate-related risks and opportunities can have an impact on our investments.

 

14.2. Some investment risks and opportunities arise as a result of long term trends. Indicate which of the following you act on.

14.2a cc. Please describe how you define “short”, “medium” and “long term”, and describe your material climate-related issues over these time horizons.

Definition
Description of material climate-related issues
Short term
          one year
        
          some of our investee companies have activities than can be affected by abnormal weather patterns (fashion, food & beverages etc)
        
Medium term
          one to five years
        
          we have seen a rising number of our investee companies facing supply disruptions and increased costs (or insurance) in thei global supply chains due to droughts, floods and hurricanes of extreme magnitude and increased occurence (example of Porto Rico)
        
Long term
          from five years on
        
          The long-term may hold many business threats to many sectors, and to institutions our investee companies depend on. This is notably true in various parts of Asia and Africa.
        

14.3. Indicate which of the following activities you have undertaken to respond to climate change risk and opportunity

14.4. Indicate which of the following tools you use to manage emissions risks and opportunities

14.4a CC. Please provide further details on these key metric(s) used to assess climate related risks and opportunities.

Metric Type
Coverage
Purpose
Metric Unit
Metric Methodology
Metric Trend
Limitations / Weaknesses
Carbon footprint (scope 1 and 2)
          coverage of 95% of our assets
        
          while imperfect, this metric helps measuring some carbon risk exposure
        
          tCO2
        
          Trucost, MSCI, Bloomberg
        
          up
        
          lack of systematic and coherent disclosure; avoided emission are rarely captured; static view with little foresight
        
Portfolio carbon footprint
          coverage of 95% of our assets
        
          while imperfect, this metric helps measuring some carbon risk exposure
        
          tCO2 per year and per million 
euros invested
        
          Trucost
        
          stable to down
        
          lack of systematic and coherent disclosure; avoided emission are rarely captured; static view with little foresight
        
Carbon intensity
          coverage of 95% of our assets
        
          while imperfect, this metric helps measuring some carbon risk exposure
        
          tCO2 per year and per million 
euros of revenues
        
          Trucost, MSCI, Bloomberg
        
          stable to down
        
          lack of systematic and coherent disclosure; avoided emission are rarely captured; static view with little foresight
        

14.5. If you selected disclosure on emissions risks, list any specific climate related disclosure tools or frameworks that you used.

Carbon footprints of portfolios

Stranded assets analysis

Fossil fuel exposure analysis

14.6. Additional information [Optional]

Technology developments: energy efficiency, telecommunications, clean tech

14.7 CC. Describe your risk management processes for identifying, assessing, and managing climate-related risks.

14.8 CC. Describe your processes for prioritising climate-related risks.

14.9 CC. Do you conduct engagement activity with investee companies to encourage better disclosure and practices around climate-related risks?

Please describe

we have engaged through the CDP and we plan to engage through the Climate Actions 100+ initiative.

14.10 CC. Describe how you use data from climate-related disclosures.


SG 15. Allocation of assets to environmental and social themed areas

New selection options have been added to this indicator. Please review your prefilled responses carefully.

15.1. Indicate if your organisation allocates assets to, or manages, funds based on specific environmental and social themed areas.

15.2. Indicate the percentage of your total AUM invested in environmental and social themed areas.

1 %

15.3. Specify which thematic area(s) you invest in, indicate the percentage of your AUM in the particular asset class and provide a brief description.

Area

          Fossil-fuel free fund
        

Asset class invested

1 % of AUM

Brief description and measures of investment

Fossil-fuel free fund including a part of investee companies developing environmentally-friendly technologies, products and services

NB: <1% of AUM


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