BPCE - 2019 Universal Registration Document

NON-FINANCIAL PERFORMANCE REPORT

SUPPORTING THE ENERGY, ECOLOGICAL AND SOCIAL TRANSITION IN LOCAL REGIONS

The following sectors and issuers are excluded: controversial weapons; • tobacco (1) ; •

countries on the FATF list or under US or European embargo. • In addition, Natixis Assurances applies ESG criteria ahead of its investment process to exclude issuers deemed to be opposed to achieving Sustainable Development Goals. These are issuers with a negative rating in research by Mirova. Natixis Assurances’ life insurance investments have had no exposure to these issuers since the end of 2017.

companies deemed the worst offenders (companies that do • not observe the principles of the United Nations Global Compact or the OECD Guidelines for Multinational Enterprises) (2) ;

INVESTOR STATEMENT ON GENDER EQUALITY IN THE WORKPLACE A group of 66 investors representing over $4 trillion in assets is calling on companies to step up their commitments to gender equality in the workplace. This group of investors is coordinated by Mirova. Natixis Investment Managers, Ostrum AM and Natixis Assurances have also signed this collaborative statement. The statement is supported by UN Women and the United Nations Global Compact. It is part of the Women’s Empowerment Principles, which Natixis has signed. MIROVA AND OSTRUM AM FIGHT DEFORESTATION IN THE AMAZON In September 2019, as media attention was focused on fires in the Amazon, 244 investors, including Mirova and Ostrum AM, signed a declaration to curtail deforestation and wildfires in the Amazon. These investors represent $17.2 trillion in assets under management. More generally, Mirova strives to direct its investments towards companies committed to curbing deforestation.

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VOTING AND ENGAGEMENT POLICIES Ostrum AM, Mirova, Seeyond, DNCA, Thematics AM and Ossiam place shareholder engagement at the center of their responsible investor approach. Ongoing constructive dialog is established with companies to encourage them to take better account of environmental, social and governance issues in their strategic planning. Their voting and engagement policies are based on two complementary principles: individual ongoing engagement by using voting rights and • maintaining dialog with issuers; collaborative engagement alongside other investors aimed at • raising awareness of the importance of ESG among issuers, government authorities and regulators. In 2019, Ostrum AM supported four new commitments covering gender equality in the workplace, tobacco, deforestation and wildfires in the Amazon, and methane emissions in the oil and gas sectors. The voting policy and dialog are central to Ecofi Investissements’ sustainability strategy; it has updated its voting

policy with more stringent requirements in terms of ESG. In accordance with its policy, Ecofi Investissements votes at all Shareholder Meetings of the French and European companies whose shares it holds in its portfolios. Ecofi Investissements maintains application of this voting policy which fosters socially responsible behavior among its investment targets. It engaged regular individual dialog with several companies involved in serious controversies that are considered as to be emblematic for the energy transition. It also actively contributes to the shareholder coalitions it has joined to influence companies on the front line in terms of the energy transition. FINANCE WITH SOCIAL IMPACT Natixis supported the development of several flagship social impact financing solutions in 2019, including a sustainable bond issue with a major social impact and a fixed income structured product. Sustainable bonds raise funds that may only be used to finance or refinance a combination of green or social projects (exclusively social projects for “social bonds”). Natixis arranged the issuance of 9 sustainable bonds in 2019.

INCLUSION OF SOCIAL CRITERIA IN THE GHANA COCOA BOARD’S SUSTAINABLE TERM LOAN Natixis co-arranged a sustainable term loan for the Ghana Cocoa Board. This new $300 million loan over three years will finance production improvement programs and includes a margin adjustment mechanism based on environmental and social goals. One of the goals is the promotion of sustainable agricultural practices (training in these practices, planting of shade trees). This deal is one of the first in this sector to encourage environmentally friendly production techniques and improve farmers’ livelihoods (in particular for women and children).

(1) Except at Seeyond and only for certified funds at DNCA. (2) With the exception of Thematics AM and Seeyond for their index tracker funds.

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UNIVERSAL REGISTRATION DOCUMENT 2019 | GROUPE BPCE

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