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CDC - Caisse des dépôts et consignations

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

          head of investment teams
        

Other description (1)

          Risk and internal control department
        

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

The Group executive committee reviews RI implementation on an annual basis, as well as potential developments to policy (eg climate).

CDC portfolio managers are responsible for ensuring holistic analysis, investment decisions, voting and dialogue for all matters linked to investee assets, including ESG issues. They are helped by a team of five specialists in the voting process.

Likewise, the risk department is also directly responsible for identifying and integrating ESG risks into their own analysis and credit/risk decisions.

The strategy dept comprises three specialists providing an independent ESG analysis to the Group investment committee for all major investments.

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

8 Number

07.4. Additional information. [Optional]


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

          
        
          Risk and internal audit division
        

Other description (1)

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.

The Group Executive Board has performed an annual Climate and or RI strategic review in 2015, 2016 and 2017, where the development and implementation of the RI policy the Climate strategic roadmap is presented and approved. 
A synthetic review is also presented to and discussed by the Supervisory Commission by Group CEO.

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

The Group executive committee reviews RI implementation on an annual basis, as well as potential
developments to investment policy (eg climate, tobacco).
CDC portfolio managers are responsible for implementing the strategy, through a holistic analysis, investment decisions, voting and dialogue for all matters linked to investee assets, including climate issues. 


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

08.1. Indicate if your organisation’s performance management, reward and/or personal development processes have a responsible investment element.

Board members/Board of trustees

Chief Executive Officer (CEO), Chief Investment Officer (CIO),  Investment Committee

Other C-level staff or head of department

          head of investment teams
        

Portfolio managers

Dedicated responsible investment staff

Other role (1) [from SG 07]
          Risk and internal control department
        

08.3. Provide any additional information on your organisation’s performance management, reward and/or personal development processes in relation to responsible investment.

Implementation of the 2° roadmap as well as specific features of the RI Charter are criteria are part
of the qualitative performance assessment in place to define individual bonuses for all financial
portfolio managers ( ie direct and indirect listed equities, bonds, real estate, and private equity
activities that are managed under a risk& return perspective). This is not the case for the "public
interest" local investment teams.

08.4. Describe the level of experience board members/trustees/chief-level staff have with incorporating ESG factors into investment decision-making processes.

          
        

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