Since 2008, CNP Assurances has excluded manufacturers of cluster munitions and anti-personnel mines. Since 2012 , bonds have been excluded or limited on the basis of issuer compliance with ESG and Global Compact principles. We also exclude SSA and corporate bonds from countries that we consider as sensitive (level of democracy and freedom , perception of corruption, tax heaven, non-cooperative states and territories, known as NCSTs, and embargoed states, countries subject to counter measures by the FATF. We exit coal of our portfolio :
CNP Assurances has set two limits. Excluding the acquisition of new financial assets: companies mining coal or producing coal-based energy when more than 10% ( since the end of 2018) of their revenue is derived from thermal coal. Exclusion from the portfolio of financial assets: companies mining coal or producing coal-based energy when more than 20% of their revenue is derived from thermal coal and also committed to no longer investing in the companies most involved in the development of new coal power plants.