BPCE - 2019 Universal Registration Document

NON-FINANCIAL PERFORMANCE REPORT

SUPPORTING THE ENERGY, ECOLOGICAL AND SOCIAL TRANSITION IN LOCAL REGIONS

MIROVA WOMEN LEADERS EQUITY FUND In the first quarter of 2019, Mirova launched a global equity fund on the theme of the presence of women in companies’ executive bodies. Women’s presence in senior management positions is a key factor of diversity in companies and proof of their commitment to gender equality. Mirova has set criteria and created an investment universe of 250 companies around the world, and has built a portfolio of around 50 companies from this universe following an active fundamental management approach. The fund has obtained the French SRI label and it has entered into a partnership with the French National Committee of UN Women, to which it donates part of its management fees. Natixis Assurances is committed to supporting projects with a strong social impact and has invested €10 million in this fund.

DNCA manages €22.34 billion in assets, including €16 billion analyzed against ESG criteria (71.7% of total assets under management). Naxicap Partners applies ESG analysis to all companies in its portfolio in which the total investment exceeds €5 million, which account for 98% of assets under management. External auditors perform mandatory pre-investment ESG analysis. Each issue is analyzed in detail, including a review of its materiality, its strategic importance in the sector, a summary of the company’s ESG performance and appropriate indicators. Naxicap Partners won Private Equity magazine’s 2019 ESG – Sustainable Development award. After performing pre-investment ESG audits, Naxicap Partners systematically includes an ESG clause in its shareholders’ agreements. This clause includes a commitment by the company to implement a detailed action plan and provide regular information and responses to ESG questionnaires (120 indicators). In addition, Naxicap Partners works with the management of the companies in its portfolio to establish a plan to reduce greenhouse gas emissions and adapt to climate change. In 2020, it intends to include ESG criteria in the variable compensation of its investment teams and the executive officers of the companies in its portfolio.

AEW CILOGER in Europe, and AEW Capital Management in the United States, both of which specialize in real estate investments, are building a corporate culture that respects ESG principles. ESG aspects are considered and discussed with the Investment Committee at the acquisition stage for direct investments. Before making any investment decisions, the investment team looks at: ESG strategy; • certifications; • renewable energy on site or renewable energy certificates • purchased; risks relating to the water supply and water quality. • Natixis Assurances ultimately aims to fully incorporate ESG criteria, with certification for all its real estate assets (compared with 40% of its portfolio by market value as of the end of 2019). Fund certification Fund managers who incorporate ESG criteria can seek certification for their funds based on the region in which they are sold and/or the investment sector.

Company

Number of certified funds

Certification

Amount at 12/31/2019

DNCA (Beyond range)

6

6 SRI labeled funds including 4 Febelfin certified funds

€0.78 billion

Ostrum AM

13

SRI, Greenfin

€12.9 billion €4.7 billion €2.4 billion €0.9 billion €0.9 billion €0.54 billion

Mirova Mirova Mirova Mirova Ossiam

4

SRI

NC NC NC

Greenfin Finansol

Other labels

4 funds

SRI

4 DNCA FUNDS OBTAIN FEBELFIN CERTIFICATION – THE NEW LABEL FOR THE EUROPEAN FINANCIAL CENTER The new Belgian Febelfin certification imposes new standards based on the recommendations of the European expert group on promoting sustainability funds among retail investors: transparency, ESG analysis and exclusions with low tolerance thresholds for coal and conventional and unconventional fossil fuels. DNCA was awarded this certification for all the sustainability funds it sells in Belgium. Three equity funds and a mixed fund were certified, representing €685 million in assets under management.

SOCIETAL EXCLUSION POLICIES: Natixis has adopted exclusion policies for sectors and issuers that do not respect certain human rights and fundamental principles of corporate responsibility. DNCA, Ostrum AM, Mirova, Seeyond, Thematics AM, Ossiam and Natixis Assurances apply these policies to their investments,

AEW CILOGER set up a working group within the French association of investment property companies (ASPIM) to create a real estate SRI label in France incorporating criteria covering all environmental, social and governance issues.

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UNIVERSAL REGISTRATION DOCUMENT 2019 | GROUPE BPCE

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