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La Banque Postale Asset Management (LBPAM)

PRI reporting framework 2019

You are in Strategy and Governance » Objectives and strategies

Objectives and strategies

SG 05. RI goals and objectives

05.1. Indicate if and how frequently your organisation sets and reviews objectives for its responsible investment activities.

05.2. Additional information. [Optional]

In April 2018, LBPAM has announced that all its investment activities will become Social Responsible Investment by 2020.

This objective is impacting all departments of LBPAM, including portfolio managers, financial analysts, sales department, human ressources, IT and all the support teams. The French SRI Label is the standard that will be used to transition all open funds. This objective is owned by Daniel Roy, the President of LBPAM and endorsed by the Executive Committee and the Chief Investment Officer.

A dedicated committe has been created in June 2018 associating all stakeholders in order to review and monitor the achievement of these objectives.


SG 06. Main goals/objectives this year

06.1. List the main responsible investment objectives that your organisation set for the reporting year.

Responsible investment processes

Key performance indicator

          - Training sessions for retail advisors
- Training sessions for all LBPAM staff
        

Progress achieved

Achievement of the training objectives in 2018:

  • LBPAM trained retail advisors of La Banque Postale to ESG incorporation during 23 sessions
  • 20 additional sessions adressing ESG took place locally at the Banque Postale branches
  • LBPAM has partnered with Novethic to provide training sessions to all LBPAM staff: 7 sessions of 2 hours each took place covering 107 employees

Key performance indicator

          - Quarterly communication on SRI scores' evolutions to Investment teams
- Monthly SRI meeting with sales team
- Launch of the AGIR newsletter targeting employees and institutional clients
        

Progress achieved

Achievement of the communication objectives in 2018:

  • 4 meetings were held with investment teams to present SRI scoring results
  • Dedicated workshop with investment teams on the SRI quantitative scoring system
  • Monthly meetings with sales teams to raise awareness on RI issues and better understand clients needs on ESG
  • A quarterly newsletter for employees and institutional clients explaining RI developments, convictions, or new products

 

Key performance indicator

          - Publication of an engagement report 
- Companies excluded in the Exclusion committee
        

Progress achieved

Achievement of the engagement objectives in 2018:

  • Publication of the 2018 engagement report
  • The exclusion committee was held on a bi-annual basis to identify companies infringing the UN Global Compact Principles

Key performance indicator

          - Open funds adopting the French SRI Label 
- Mandates integrating ESG criteria in their Investment d├ęcisions
- LBPAM's AuM adopting ESG criteria
        

Progress achieved

Achievement of the investment objectives in 2018:

  • EUR 10.6BN of AuM adopted the French SRI Label
  • EUR 104 BN of AuM integrateed ESG criteria in their investment decisions
  • ESG assets increased by 5% between 2017 and 2018

 

Financial performance of investments

ESG characteristics of investments

Key performance indicator

          - Adoption of the SRI French Label for open funds using (exclusion method or over/underweight)
        

Progress achieved

 In 2018, 10.6BN of AuM adopt the French SRI Label

Other description (1)

          Measuring climate related risks of mutual funds
        

Key performance indicator

          Co2 emissions, coal exposition and Green investments of funds
        

Progress achieved

We have developped an internal tool based on Trucost Data which is fully integrated into our internal IT systems. As such, asset managers are able to know in real-time different indicators linked to climate change.

Three indicators are annually reported in mutual funds' annual reports and directly towards clients : Co2 emissions, coal exposition and Green investments of funds.

Once a year we publish a report on how LBPAM takes into account climate change in its investment policy.

Other activities

Key performance indicator

          - Increase LBPAM's participation and engagement in external forums
        

Progress achieved

LBPAM joined six initiatives in 2018:

  • Member of Cambridge Investors Leaders Group
  • Sign up of the TCFD investors statement
  • Sign up of the Tobacco pledge
  • Join the collaborative network FAIRR
  • Join Access to Medicine
  • Join Paris Europlace Board of Directors  

 

Key performance indicator

          - For SRI funds in Equity: quarter communication on ESG arguments for investing in companies
- Clients/prospects meetings demonstrating ESG incorporation and presenting LBPAM SRI strategy
        

Progress achieved

- Reporting has been published in website with arguments per company for 11 RI Funds

-  We have presented to circa 20 prospects ESG integration process

- During our clients investment committees we present responsible investment practices and portfolio indicators on a monthly basis  

06.2. Additional information.


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