The CSR department is in charge of steering climate issues at Group level. It relies on the Climate Risk Committee that the CNP Assurances set up in early 2019. This committee meets quarterly to monitor the actions put in place to integrate the climate risk dimension into all components of the business (investment, insurance, internal operations).
In addition to the investment department, the group's general secretariat and the CSR department, the climate risk committee benefits from the expertise of the group risk department and the group actuarial department. The sharing of information during this quarterly committee promotes interaction and exchanges between the various operational functions:
• the investment department is responsible for the investment portfolio
• the group acturial department is responsible for evaluating technical provisions and supervising underwriting activities
• the group risk department is responsible for cross-functional risk measurement and management. It assesses the impact on solvency and steers work on climate stress tests.
The roadmap of the Climate Risk Committee breaks down the actions on the various activities of the company: risk mapping and measurement, strategy to reduce risks. The progress of the roadmap is monitored during the committee and regularly supplemented with new actions.
In addition, the investment department has implemented a quarterly green finance reporting to measure and disseminate to internal stakeholders the evolution of KPI related to climate issues. Within the investment department, the implementation of the responsible investment strategy relies on the head of the risk management department and a network of appointed correspondents for each asset class. They deploy this strategy with the various asset management companies.
The internal SRI committee monitors the operational implementation of the responsible investment strategy by asset class.
The group risk department controls the correct application of the exclusion rules in the asset portfolios.
The CSR department is in charge of exercising voting rights at general meetings and shareholder engagement. The voting guidelines proposed by the CSR department are validated by the CEO or the CIO