CNP Assurances has implemented a risk management system.
The strategic priorities in terms of risk management are decided by the Board of Directors – particularly the Group’s risk appetite and how this breaks down on an annual basis – based on input from the Audit and Risk Committee. The risk management system is part of the comprehensive strategic management process led by the Chief Executive Officer.
The aim of identifying and assessing recurring risks is to provide governance bodies with the information needed to manage the risks inherent to each business activity and to define an overarching risk management strategy for the Group as a whole.
The Board of Directors has accordingly approved the inclusion of ESG criteria in asset management as part of its annual review of the investment strategy. The efficiency of the implementation of the approach is demonstrated by the SRI commitment of the two main delegated asset management companies, Ostrum AM and La Banque Postale AM, which manage the directly held assets.
This approach, which has been progressively rolled out since 2006 and covered 82% of the portfolio as at end-2019, effectively takes exposure to environmental, social and governance risks into account:
The climate risk committee was set up at the end of 2018. Its mission is to monitor climate risks, identify actions to be taken, monitor their implementation and their results.