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CNP Assurances

PRI reporting framework 2020

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Pre-investment (selection)

PR 04. Incorporating ESG issues when selecting investments

04.1. Indicate if your organisation typically incorporates ESG issues when selecting property investments.

04.2. Provide a description of your organisation`s approach to incorporating ESG issues in property investment selection.

The acquisition of property assets involves screening under the master agreement between CNP Assurances and its management companies. There are many ESG criteria; we describe the main ones here:

Environmental: energy efficiency, pollution, risk of flooding and natural disasters, transport;

Social: user safety, asbestos and lead risk, accessibility for disabled people;

Governance: the identity of the seller is analysed in the light of anti-money laundering and anti-corruption regulations (Know Your Customer "KYC" process). Management companies must also comply with five ethical principles of action. They cover market conduct, integrity and respect for suppliers, including subcontractors.

The management companies are in charge of analysing these criteria. Before any acquisition, they are required to present CNP Assurances with a comprehensive file incorporating analysis of the building's technical, environmental and public health aspects. This file describes the environmental risks, the energy performance (mandatory diagnostic), the building's GHG emissions and its position in view of new environmental regulations (green leases, certification, labels), and public health safety in relation to asbestos, lead, termites, soil pollution, etc. ESG information may be supplemented where necessary.

04.3. Indicate which E, S and/or G issues are typically considered by your organisation in the property investment selection process, and list up to three examples per issue.

Environmental example 1, description

          
        

Environmental example 2, description

          
        

Environmental example 3, description

          
        

Social example 1, description [OPTIONAL]

          
        

Social example 2, description [OPTIONAL]

          
        

Social example 3, description [OPTIONAL]

          
        

Governance example 1, description

          
        

Governance example 2, description

          
        

Governance example 3, description

          
        

04.4. Additional information. [Optional]


PR 05. Types of ESG information considered in investment selection (Private)


PR 06. ESG issues impact in selection process

06.1. Indicate if ESG issues impacted your property investment selection process during the reporting year.

06.2. Indicate how ESG issues impacted your property investment deal structuring processes during the reporting year.

06.3. Additional information.

The technical, environmental and health analyses of a building help CNP Assurances identify risks specific to a given building, thereby serving to assess the amount and feasibility of work needed to meet its requirements. Non-feasibility can result in withdrawing from a project; in turn, the estimate of the cost of upgrades has an impact on the purchase price.


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