CNP Assurances: rsquo; Responsible investment report 2020 focuses on biodiversity and climate

Paris, May 31, 2021

CNP Assurances 2020 report on responsible investment

focuses on biodiversity and climate

As a responsible investor, CNP Assurances acts to have a positive impact on society as a whole. With

an investment portfolio of more than 300 billion euros, CNP Assurances is a major player in the financing of

economy. In its responsible investment report, published today, the Group focuses on its commitments to protect biodiversity and the climate.

eStephane Dedeyane

Chief Executive Officer of CNP Assurances

With several major events scheduled for 2021 to accelerate the protection of biodiversity across the planet, including the World Conservation Congress in Marseille in September and the COP 15 on biodiversity in China in October, CNP Assurances is committed to continuing its efforts to measure and reduce the impact of its investment portfolio on biodiversity. I am convinced that climate change and biodiversity loss are inseparable challenges that must be tackled together by governments, businesses and investors. ”

  • Biodiversity in dialogue with shareholders

In 2020, CNP Assurances included biodiversity in its shareholder engagement policy, encouraging invested companies to take and implement ambitious decisions to protect biodiversity and publish information on the risks associated with biodiversity loss.

Last year, issues of biodiversity protection were addressed in 64% of CNP Assurances meetings with companies in which he is a shareholder.

  • Biodiversity in our investments in stocks and bonds

In May 2020, CNP Assurances joined the coalition of institutional investors calling for the creation of biodiversity impact analyzes of investment portfolios, which would respect the principles of methodological transparency.

CNP Assurances carried out an initial test to measure the biodiversity footprint of its investment portfolio using the Corporate Biodiversity Footprint tool. The test carried out on five sectors (agri-food, oil and gas, energy, forests and paper, waste) estimates the the biodiversity footprint of our equity and bond portfolio -14m².MSA1 per thousand euros invested at the end of 2020.

While recognizing the limits of the methodology used, CNP Assurances has decided to publish this first assessment of the biodiversity footprint to advance methodological work in this area and encourage beneficiary companies to increase transparency on biodiversity issues, in particular. in the sectors with the highest impact.

  • Biodiversity in our forestry investments

The renewal of the management mandate entrusted to Forest Company, which manages the 56,488 hectares of CNP Assurances’ forest heritage on a sustainable basis, an action plan and biodiversity conservation objectives covering the next five years in a sustainable management charter.

This charter provides for a inventory of potential biodiversity, with the aim of improving biodiversity by preserving micro-habitats, developing green corridors, protecting the reproduction of species most at risk, banning fungicides and phytocides, and limiting the use of insecticides to only health emergencies.

Forest Company is committed to regularly conserving aging or dead trees standing in our forests because they are home to a very specific biodiversity (more than a quarter of animal and fungal species in the woods) recognized as being of major interest by scientists and nature conservation associations. The biodiversity protection measures applied in CNP Assurances’ forests in 2020 include the implementation of a protection management process for the wood grouse in the Jura: Forest Company applies tranquility clauses to limit disturbance to avifauna, and more particularly the wood grouse, from December 15 to June 30, and preserves the firs on which these birds feed upon their identification.

1 MSA (Mean Species Abundance) is a scientifically recognized metric created by the Netherlands Environmental Assessment Agency (PBL) to measure the average abundance of species. The destruction of biodiversity is expressed as a negative value of m².MSA. The m².MSA corresponds to the artificialization of 1 m² of virgin natural space.

  • Biodiversity in our real estate investments

Real estate has a significant impact on biodiversity both during the construction phase and the operating phase. CNP Assurances published a “Green Works” charter impose rules on its real estate portfolio management companies to protect biodiversity, such as respect for ecosystems during construction, the choice of materials with a limited impact on the environment, reduction of waste and water consumption .

The charter also provides for the study of technical solutions favoring plants and promoting biodiversity, the circular economy (reuse of materials) and ecosystem services for buildings and green spaces.

At the end of 2020, the carbon footprint (scope 1 and 2 emissions) of the portfolio of shares and corporate bonds held directly by CNP Assurances is estimated at:

  • 5,409,216 teqCO2, down 8% compared to the end of 2019
  • 67 kgeqCO2 per thousand euros invested, down 16% compared to the end of 2019

For the sake of transparency, for the second consecutive year, CNP Assurances is publishing the breakdown of its carbon footprint by sector and by country of incorporation of the companies invested. The three main contributing sectors (utilities, energy and materials) represent 82% of its total carbon footprint. The three main contributing countries (France, United Kingdom and United States) represent 63% of its total carbon footprint.

To continue its efforts to decarbonise its portfolios, CNP Assurances has made a commitment to reduce the carbon footprint of its portfolio of shares and corporate bonds held directly by an additional 25% between 2019 and 2024. This objective of 25% reduction over five years is in line with IPCC 1.5 ° C temperature rise trajectories2.

2 IPCC Special Report on Global Warming of 1.5 ° C: trajectories with little or no risk of global warming greater than 1.5 ° C, also referred to as trajectories P1, P2, P3

Having joined the Net-Zero Asset Owner Alliance3 in 2019, and in order to achieve a carbon neutral investment portfolio by 2050, CNP Assurances sets ambitious new climate targets for 2025 in February 2021, aligned with current scientific knowledge:

  • Reduce the carbon footprint (scope 1 and 2 emissions) of its portfolio of shares and corporate bonds held directly by an additional 25% between 2019 and 2024
  • Reduce the carbon footprint (scope 1 and 2 emissions) of its directly owned real estate portfolio by an additional 10% between 2019 and 2024
  • Reduce the carbon intensity (scope 1 and 2 emissions) of electricity producers of which CNP Assurances is a direct shareholder or bondholder by an additional 17% between 2019 and 2024
  • Engage with eight companies (six directly and two via the Climate Action 100+ initiative) and two asset managers to encourage them to adopt a strategy aligned with a scenario of global warming of 1.5 ° C by the end of end of 2024
  • Doubling of green investments between 2018 and 2023

In 2019, CNP Assurances announced its intention to double its green investment assets under management

  • forests, green bonds, high energy-efficient buildings and green infrastructure – to € 20 billion by the end of 2023, up from € 10.4 billion at the end of 2018. At the end of 2020, its green investment assets under management amount to 17.2 billion euros: 60% concern sustainable buildings, 21% renewable energies and energy efficiency, and 11% sustainable transport and mobility.

CNP Assurances’ 2020 report on responsible investment is available here [French version]

The English version will soon be available on the site here.


About CNP Assurances

A major player in the French life and health insurance market, CNP Assurances is present in 19 European countries, particularly in Italy, and in Latin America, where it has a strong presence in Brazil, its second largest market.

As an insurer, coinsurance and reinsurance, CNP Assurances designs innovative solutions for personal risk / protection and savings / retirement. The company has more than 36 million risk insurance / personal protection policyholders worldwide and more than 12 million in savings / retirement. In accordance with its economic model, its solutions are distributed by multiple partners and adapt to their physical or digital distribution method as well as to the needs of customers in each country in relation to their protection and simplification of life.

CNP Assurances has been listed on the Paris Stock Exchange since October 1998 and is a subsidiary of La Banque Postale. The Company achieved net income of € 1,350 million in 2020.

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CNP Assurances SA published this content on May 31, 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unchanged, on 31 May 2021 12:25:02 PM UTC.

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