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CNP Assurances

PRI reporting framework 2020

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You are in Direct - Listed Equity Incorporation » ESG incorporation in actively managed listed equities » Implementation processes » (A) Implementation: Screening

(A) Implementation: Screening

LEI 04. Types of screening applied

04.1. Indicate and describe the type of screening you apply to your internally managed active listed equities.

Type of screening

Screened by


Since 2008, CNP Assurances has excluded manufacturers of cluster munitions and anti-personnel mines. We exclude companies that do not respect the Global Compact principles, countries that we listed as sensitives and companies that derive more than 10% of their turnover from coal (and 20% for titles already held by CNP Assurances since the end of 2019).  It is also committed to no longer invest in the companies most involved in the development of new coal power plants.

Screened by


Equities have been monitored on a quarterly basis since 2006 with ESG analysts at Natixis AM and since 2009 at LBPAM. Constructive dialogue is engaged with investee companies whenever a problem is revealed during the quarterly screening process via our asset managers or during the lead-up to General Meetings. This process is repeated year after year, given the long investment horizons.

When dialog fails to produce results, other increasingly severe measures may be taken, from not making any follow-up investments to selling the entire stake.


04.2. Describe how you notify clients and/or beneficiaries when changes are made to your screening criteria.

The screening is established with the rating for each company conducted by the SRI team of our asset managers. This rating is submitted quarterly by each asset manager. It explains the evolution of the new analysis and compared with the financial and SRI benchmark.
Our investment policy is updated every year. It is posted on our website via the sustainable investment report which explain methodologies and criteria.

LEI 05. Processes to ensure screening is based on robust analysis

05.1. Indicate which processes your organisation uses to ensure ESG screening is based on robust analysis.

          The analysis is done by 2 differents ESG research team (one for each of our asset managers) and they also use extra-financial agency ratings.

05.2. Indicate the proportion of your actively managed listed equity portfolio that is subject to comprehensive ESG research as part your ESG screening strategy.

05.5. Additional information. [Optional]

The ESG research teams is present at the quaterly comitee and explain their analysis.

LEI 06. Processes to ensure fund criteria are not breached (Private)