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CNP Assurances

PRI reporting framework 2020

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Asset class implementation not reported in other modules

SG 16. ESG issues for internally managed assets not reported in framework

Describe how you address ESG issues for internally managed assets for which a specific PRI asset class module has yet to be developed or for which you are not required to report because your assets are below the minimum threshold.

Asset Class

Describe what processes are in place and the outputs or outcomes achieved

Forestry

CNP Assurances is France’s largest private owner of woodland, with  56 537 hectares at 31 December 2019. Société Forestière, a 50%-owned subsidiary, is a committed player in sustainable forest management aimed at preventing fires, promoting biodiversity and anticipating the effects of climate change. In 2003, in addition to ISO 9001 certification, all of CNP Assurances’ woodland assets were certified by the PEFC, which guarantees that the timber comes from sustainably managed forests.

In 2019, the growth of CNP Assurances’ trees helped sequester 497 844 tonnes of CO2. After deducting timber sold or cut down during the year, a net 234 193 tonnes of CO2 was added to the sequestered total in 2019.

The Sustainable Management Charter approved in 2001 formalises commitments for sustainable management respecting biodiversity and anticipating climate change. The climate change issue is a key factor in managing CNP Assurances’ forests. In order to ensure the long-term health and value of the woodland, the management company selects transitional tree species adapted to current and future climates, and pays increasing attention to the soil moisture reserves in areas where new trees are being planted.

16.2. Additional information [Optional].

We adress ESG issues for private equity, property and infrastructure assets.


SG 17. ESG issues for externally managed assets not reported in framework

17.1. Describe how you address ESG issues for externally managed assets for which a specific PRI asset class module has yet to be developed or for which you are not required to report because your assets are below the minimum threshold.

Asset Class

Describe what processes are in place and the outputs or outcomes achieved

Private equity

ESG ratings are awarded based on the due diligence process carried out ahead of any investment in a new private equity fund. A total of 15 private equity funds were rated in 2019.

In addition, CNP Assurances has invested in several socially beneficial funds in a total amount of nearly €220 million at 31 December 2019. Examples include financing small businesses that have trouble raising capital due to social barriers, and supporting SMEs facing financial hardship.

Property


With a real estate portfolio worth € 12.6 billion in net book value, CNP Assurances is a major player in the sector. It entrusts the asset management to specialized companies, based on strict specifications, including the issues of respect for the environment and security: charter of sustainable management by contracting the consideration of the impact on the environment. environment, energy transition, health and safety of users in all delegation mandates via a "green work charter

Since 2016, CNP Assurances has been monitoring hygiene, safety and environment (HSE) compliance with one of its property management companies. After a five-phase diagnostic phase, monitoring the observation processing indicates a completion rate of 68% by the end of 2019
 

Infrastructure

ESG reporting is also used for new infrastructure investments. In 2019, 81% of infrastructure funds took part in this reporting process or voluntarily reported their own ESG data.
 



 

 

Forestry

Sustainable management certification is a key criteria when ensuring the integration of ESG considerations in woodland management. Forests must be managed sustainably in order to maintain all the ecosystem services they provide. One example is their ability to produce wood, a renewable raw material, to maintain original biodiversity and to protect the soil against erosion.

PEFC certification is obtained for a single administrative region or for a group of administrative regions. Société Forestière’s purpose is to ensure that all CNP Assurances certificates remain valid, renewing the certification on time and implementing the PEFC sustainable management rules set out in the “owner’s specifications”. The label’s validity is established by documentary checks verifying that the certification is current and valid. Société Forestière keeps a certification database on behalf of CNP Assurances. Certificates are valid for five years, unless they are challenged after an external audit commissioned by PEFC.

At the end of 2018, 100% of the woodland held by CNP Assurances had PEFC certification. The recurring target is to have 100% of the area certified(1).

Cash

The CNP Assurances ESG's criteria for bonds and money market fund are applied.

17.2. Additional information.


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