This report shows public data only. Is this your organisation? If so, login here to view your full report.

LBPAM La Banque Postale Asset Management

PRI reporting framework 2019

You are in Direct - Fixed Income » Outputs and outcomes

Outputs and outcomes

FI 17. Financial/ESG performance

17.1. Indicate whether your organisation measures how your incorporation of ESG analysis in fixed income has affected investment outcomes and/or performance.

Select all that apply
SSA
Corporate (financial)
Corporate (non-financial)
Securitised
We measure whether incorporating ESG impacts portfolio risk.
We measure whether incorporating ESG impacts portfolio returns.
We measure the ESG performance/profile of portfolios (relative to the benchmark).
None of the above

17.2. Describe how your organisation measures how your incorporation of ESG analysis in fixed income has affected investment outcomes and/or ESG performance. [OPTIONAL]

17.3. Additional information.[OPTIONAL]


FI 18. Examples - ESG incorporation or engagement

18.1. Provide examples of how your incorporation of ESG analysis and/or your engagement of issuers has affected your fixed income investment outcomes during the reporting year.

ESG issue and explanation

Weakness in the green bond framework disclosed by an issuer.

Impact on investment decision or performance

We meet wit OP Financial Group when they first disclosed their initial GB framework. We told them that we were interested in their green bond but that we would not invest in it because we were not comfortable with one eligible project category (possibility to (re)finances loans granted to “leading players in terms of ESG criteria in their relevant field. Moreover the part of the turnover that is not classified as “green” is not allowed to be in any means environmentally harmful (environmentally neutral activities)”). Indeed we found that such category implies the possibility that the green bond finance “non green” assets. We thus asked them to remove this eligible project category from their framework. The engagement was successful since OP finally decided to review its framework and remove this project category, limiting eligible assets to loans granted to “green pure players” (90% of the turnover from environmental friendly activities as specified by the elgibility criteria). Thanks to this engagement, we were finally able to invest in this green bond.

18.2. Additional information.


Top