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Crédit Agricole Assurances

PRI reporting framework 2020

Export Public Responses

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

ESG issues in asset allocation

SG 13. ESG issues in strategic asset allocation

13.1. Indicate whether the organisation carries out scenario analysis and/or modelling, and if it does, provide a description of the scenario analysis (by asset class, sector, strategic asset allocation, etc.).

Describe Our scenario analysis is about asset allocation by asset class and geographical area

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

13.3. Additional information. [OPTIONAL]

 Our priority is to invest in France.

SG 13 CC.

SG 14. Long term investment risks and opportunity

14.1. Some investment risks and opportunities arise as a result of long term trends. Indicate which of the following are considered.

Please explain why not

We are still thinking about the data to be taken into account and how to make them reliable.

14.5. Additional information [Optional]

SG 14 CC.

14.8 CC. Indicate whether climate-related risks are integrated into overall risk management and explain the risk management processes used for identifying, assessing and managing climate-related risks.

Please describe

We conduct physical and transition risk analysis to track climate change risks through risk management that identifies, assesses and addresses risks.

Prior to entering a portfolio company, an ESG risk review is conducted in conjunction with financial analysis. The physical, economic and even legal impacts on the assets held directly or indirectly in the investment portfolios are assessed. If an ESG-Climate risk appears too high, we do not invest.

To reduce these physical and transition risks, measures can be taken such as the development of insurance products linked to climate hazards, continued financing of the energy transition and green technologies.

For physical risks, we apply our risk analysis to our public issuers such as sovereigns (23% of the portfolio). We mainly have developed countries (63% French sovereigns, followed by the neighboring countries of Italy and Belgium). We are therefore only slightly exposed to physical risk. Our investments are mainly in France and France is one of the countries with the least vulnerability. For example in real estate, our investments are mainly in Paris and Lyon, which are low-risk cities. In infrastructure, we have a higher risk on the wind farm on the seaside due to erosion linked to the marine space.

Transition risk, we have two methodologies that fully cover our portfolio in Top-down (Scope 1, 2 and 3 aggregated in a macroeconomic manner) and Bottom-up (issuer view with Scope 1, 2 and 3 approach on the supplier side).

14.9 CC. Indicate whether your organisation, and/or external investment manager or service providers acting on your behalf, undertake active ownership activities to encourage TCFD adoption.

Please describe

We describe these items in our annual report. Active shareholding activities to promote the adoption of CFDT are described in our Annual Report in accordance with the provisions of Section 173.

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