BPCE - 2019 Universal Registration Document

NON-FINANCIAL PERFORMANCE REPORT

SUPPORTING THE ENERGY, ECOLOGICAL AND SOCIAL TRANSITION IN LOCAL REGIONS

ACTION LOGEMENT ISSUES ITS FIRST SUSTAINABLE BOND FOR €1 BILLION Natixis was lead manager for the first sustainable bond issue by Action Logement, an organization run jointly by the government, employers and unions which finances low cost housing in France. The bond raised €1 billion over 15 years. It will finance the commitments made by employers and union bodies under the €9 billion voluntary investment plan signed with the government in April 2019. The funds raised will finance and refinance social and green projects, for example, the construction and renovation of social housing. The net proceeds will fund contributions to public policy, assistance and services for individuals, as well as social and capped-rent housing schemes in France. THE MIROVA SOLIDAIRE FUND TOPS €200 MILLION In 2019, the Mirova Solidaire fund surpassed the symbolic €200 million mark in terms of assets under management, with inflows of nearly €20 million over the year. These inflows allowed the fund to invest €10 million in the rooming-house scheme run by Habitats & Humanisme. Under this scheme, 20 new rooming-houses (low cost individual residences with shared living spaces) will be provided in line with the government’s plan to create 10,000 additional rooms in such houses. The Mirova Solidaire fund was certified a “French Impact” fund in 2019, which will increase its visibility.

Ecofi – Crédit Coopératif’s asset management subsidiary – is pursuing its commitment. Since January 1, 2019, Ecofi Investissements has applied its new SRI process to all its open-ended funds and it completed its certification process, obtaining three SRI labels from the French government and a Greenfin label for its investment funds. At the end of 2019, Ecofi Investissements chose a new service provider, ISS ESG, to enhance analysis of its investments in terms of their alignment with the 2°C climate scenario. RESPONSIBLE SOLIDARITY-BASED EMPLOYEE SAVINGS PLANS Groupe BPCE’s entities offer a range of responsible and/or solidarity-based employee savings solutions via Natixis Interépargne (NIE). Natixis Interépargne is fully committed to sustainable development, ranking number one in terms of solidarity-based employee savings inflows in France, with over €33.5 billion in assets under management. Natixis Interépargne is a major player in responsible company savings plans in France with SRI-certified assets under custody amounting to €5.8 billion. Solidarity-certified funds amount to more than €1.7 billion. With total assets of over €7.65 billion, Natixis Interépargne’s market share exceeds 25% in SRI and 29.5% in solidarity investments in France. Natixis Interépargne’s savings inflows and Mirova’s portfolio management expertise combine to provide financing for sustainable and solidarity-based projects. Projects such as these are developed by investing in companies that strictly observe ESG criteria, or by allocating resources to entities in the social and solidarity-based economy.

Mirova’s Insertion Emplois Dynamique fund, which was launched in 1994, was one of the first solidarity-based “90/10” funds dedicated to job creation in France. The solidarity allocation (10% of assets) finances structures with a positive social impact across the country in conjunction with France Active, while the equity allocation (90% of assets) invests in listed companies planning to create jobs in France over 3 years, based on analysis performed by Mirova. The employee headcount in the listed companies in which the fund invests increased by an average of 13.1% over the review period (2014-2018), while it rose by 2.7% for CAC 40 companies more generally over the same period. The portfolio’s ESG profile also improved over this period, and its carbon impact improved sharply, with the climate scenario implied by its investments (expected temperature rise) estimated at +1.5°C at December 31, 2019, compared with +4.4°C at the end of 2014. The fund has €576 million in assets under management. Mirova manages €967 million in assets in solidarity investments (1) . Natixis Interépargne’s SRI expertise is fully on display in the Impact ISR and Cap ISR ranges, created in 2002 and 2013 respectively, which together accounted for over €4.5 billion in AuM in September 2019. These two product ranges invest in funds managed by Mirova, an award-winning asset management company renowned for its responsible investments and the quality of its investment management, offering customers a viable and sustainable alternative to traditional financial investments. Natixis Assurances systematically includes an ESG-certified unit-linked product (SRI or Greenfin certification) in all new life insurance policies. These certified unit-linked products totaled €804 million at the end of 2019.

(1) Solidarity-based funds (Mirova Solidaire) and “90/10” solidarity-based equity funds (Insertion Emplois Dynamique fund and dedicated fund).

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UNIVERSAL REGISTRATION DOCUMENT 2019 | GROUPE BPCE

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