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CNP Assurances

PRI reporting framework 2020

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Governance and human resources

SG 07. RI roles and responsibilities

07.1. Indicate the internal and/or external roles used by your organisation, and indicate for each whether they have oversight and/or implementation responsibilities for responsible investment.

Roles

Select from the below internal roles

          CSR department
        

07.2. For the roles for which you have RI oversight/accountability or implementation responsibilities, indicate how you execute these responsibilities.

CNP Assurances organizes working groups on RI implementation. We also report on our RI approach and objectives that we have set up for our organization.

07.3. Indicate the number of dedicated responsible investment staff your organisation has.

3 Number

07.4. Additional information. [Optional]

CNP Assurances has 3 FTE dedicated to responsible investment but no SRI team.

In parallel, CNP Assurances works with Mirova which is an asset manager specialised in responsible investment and a subsidiary of Natixis Investment Management. 11 employees of Mirova are dedicated to
 to the analysis of sustainable development issues

We also work with La Banque Postale Asset Management (23 employees are dedicated to responsible investment) and Ostrum (7,5 employees dedicated).


SG 07 CC. Climate-issues roles and responsibilities

07.5 CC. Indicate the roles in the organisation that have oversight, accountability and/or management responsibilities for climate-related issues.

Board members or trustees

Chief Executive Officer (CEO), Chief Investment Officer (CIO), Chief Risk Officer (CRO), Investment Committee

Other Chief-level staff or heads of departments

Dedicated responsible investment staff

External managers or service providers

07.6 CC. For board-level roles that have climate-related issue oversight/accountability or implementation responsibilities, indicate how these responsibilities are executed.


The Group's climate strategy is subject to the approval of the Chief Executive Officer and then the Board of Directors.
Climate issues are presented once a year to the Board of Directors and the Audit and Risk Committee during the review of the Group's CSR approach and the presentation of the Non Financial Performance Statement. The commitments made in the fight against global warming are presented there specifically, allowing CNP Assurances' governance to monitor the actions implemented and the level of achievement of these commitments. These commitments are also presented to shareholders at the general meeting of CNP Assurances.
In addition, the work of the Climate Risk Committee was presented to the Executive Committee and to the Audit and Risk Committee in November 2019. These two bodies benefited from training on climate risk.
 

07.7 CC. For management-level roles that assess and manage climate-related issues, provide further information on the structure and processes involved.

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

07.8 CC. Indicate how your organisation engages external investment managers and/or service providers on the TCFD recommendations and their implementation.


SG 08. RI in performance management, reward and/or personal development (Private)


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