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Crédit Agricole Assurances

PRI reporting framework 2020

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Investment policy

SG 01. RI policy and coverage

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

01.1. Indicate if you have an investment policy that covers your responsible investment approach.

01.2. Indicate the components/types and coverage of your policy.

Select all that apply

Policy components/types

Coverage by AUM

01.3. Indicate if the investment policy covers any of the following

01.4. Describe your organisation’s investment principles and overall investment strategy, interpretation of fiduciary (or equivalent) duties,and how they consider ESG factors and real economy impact.

First of all, Green Finance is the key feature of the growth of Credit Agricole Group. According to the Paris Agreement, the Group's ambition is to enlist everyone around a collective strategy towards climate change.

Credit Agricole Group will strengthen its commitment to the financing of the energy transition: We will exit thermal coal by 2030 in the EU and OECD. We will finance one-third of renewable energy projects in France and will double the size of our green loan portfolio in order to reach 13 billion euros in 2022.

We will promote more responsible investing policies with important environmental, social and governance factors: Awareness on ESG standards in every fund managed by Amundi and every new investment of Credit Agricole Assurances. We will also allocate 6 billion euros of the Group cash portfolio on Socially Responsible Investing financial products.

We will assign a rating to evaluate the transition plan of our biggest clients to build the framework of a harmonized sustainable development approach.

 

01.5. Provide a brief description of the key elements, any variations or exceptions to your investment policy that covers your responsible investment approach. [Optional]

 

We are working to ensure compliance with the Paris 2030 agreement on sectoral exclusions, in particular on coal and tobacco. For diversification (equities), we are in the process of disposing of shares, while the bond portion is being processed according to the maturity dates of the securities.

Our entire scope of issuers listed on the financial markets is covered by an ESG analysis provided by our asset manager AMUNDI. Additional criteria are applied to the more restrictive bond portfolio.

We apply other criteria to the diversification pocket than the SRI criteria of the bond pocket. These criteria are not included in the ratio. These elements are in the process of being made more reliable, so, for the time being, we prefer not to define them as SRI filters.

 

01.6. Additional information [Optional].

          
        

SG 01 CC. Climate risk

01.6 CC. Indicate whether your organisation has identified transition and physical climate-related risks and opportunities and factored this into the investment strategies and products, within the organisation’s investment time horizon.

Describe why your organisation has not yet gone through a process to identify transition and physical climate-related risks and opportunities.

Risk analyses are already being made more reliable. But in terms of opportunities, we have an investment strategy that allows us to reduce the impact of potential physical risks, such as having a majority of our investments in France.

01.8 CC. Indicate whether the organisation publicly supports the TCFD?

Explain the rationale

The Credit Agricole Group supports TCFD's recommendations for the entire organization.

01.9 CC. Indicate whether there is an organisation-wide strategy in place to identify and manage material climate-related risks and opportunities.

Describe

Refine risk assessment methodologies:

Carbon footprint with several methodologies used, physical risks

Scenario test compatible with reduction targets at 2 ° C.

Targeted low carbon or climate resilient investments 
  Reduced portfolio exposure to emissions intensive or fossil fuel holdings 
  Used emissions data or analysis to inform investment decision making 
  Sought climate change integration by companies 

1.10 CC. Indicate the documents and/or communications the organisation uses to publish TCFD disclosures.


SG 02. Publicly available RI policy or guidance documents

 

02.1. Indicate which of your investment policy documents (if any) are publicly available. Provide a URL and an attachment of the document.

02.2. Indicate if any of your investment policy components are publicly available. Provide URL and an attachment of the document.

02.3. Additional information [Optional].


SG 03. Conflicts of interest

03.1. Indicate if your organisation has a policy on managing potential conflicts of interest in the investment process.

03.2. Describe your policy on managing potential conflicts of interest in the investment process.

The policy related to the management of potential conflicts of interest is a group policy that is applied in each entity of the group, including Crédit Agricole Assurance, and can be summarized as follows: " When the Bank considers that the organizational and administrative arrangements taken are not enough to ensure, with reasonable certainty, that the risk of damaging customers' interests will be avoided, it shall clearly inform customers, before acting on their behalf, of the general nature and/or source of such conflicts of interest. In certain exceptional cases, the Bank may be required to refuse to carry out a transaction. "

03.3. Additional information. [Optional]

Our policy related to the management of potential conflicts of interests is available here:

https://www.credit-agricole.fr/content/dam/assetsca/master/public/commun/documents/resume-de-la-politique-de-prevention-et-gestion-des-conflits-d-interet


SG 04. Identifying incidents occurring within portfolios (Private)


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