BPCE - 2020 Universal Registration Document

NON-FINANCIAL PERFORMANCE STATEMENT

SUPPORTING THE ENERGY, ECOLOGICAL AND SOCIAL TRANSITION IN LOCAL REGIONS

ECOFI Ecofi – Crédit Coopératif’s asset management subsidiary – is pursuing its commitment. In 2020, Ecofi strengthened its SRI process, applied to 100% of its open-ended funds, notably by: applying a new methodology for excluding controversial • weapons, including seven new types of weapons; improving its coal policy by reinforcing the exclusion of • companies involved in coal, from a maximumof 20% down to 10% of revenue; and including new criteria required by the AMF doctrine on • SRI. In 2020 Ecofi obtained the SRI Label for the Epargne Ethique Monétaire, Epargne Ethique Flexible, Ecofi Agir pour le Climat, and Choix Solidaire funds, following the EY audit process. Ecofi holds seven SRI-certified funds, if we also take into account the three funds already certified in 2019, Epargne Ethique Actions, Epargne Ethique Obligation, and Ecofi Enjeux Futurs. Moreover, in 2020, Ecofi enhanced its monthly impact reporting model for all of its open-ended funds with an indicator on the alignment of portfolios with the 2° climate scenario by 2050. After having created the first sharing fund in 1983, Ecofi is still involved in the management of solidarity funds with 17 Finansol-certified funds that invest part of their assets in more than 70 unlisted structures with very high social value.

many years, anticipating the value of investing in sustainable (low-carbon) development models to combat global warming since 2005. Today Palatine Planète, which is continuing the work of Palatine Or Bleu (created in 2006 and focused on the theme of water), is open to all global issues and offers a more diversified portfolio. In terms of management policy, PAM combines thematic investment and ESG analysis. Convinced there was an ecological and climate emergency, PAM invests in companies providing concrete solutions for another type of growth, companies whose approach to progress is in itself part of the solution. This is why it seemed obvious that the teams should develop SRI expertise in order to better identify risks and opportunities related to a security, but also address global warming (management of climate-related risks and contribution to the financing of the green economy, with the support of Trucost). PAM selects companies that seek to deliver long-term performance in the best interest of its clients: traditional fundamental analysis (strategic positioning, financial structure, quality of governance) is supplemented by our rigorous non-financial analysis, which relies on data from Vigeo Eiris and Ethifinance to refine the selection by ensuring that companies implement their strategy by mobilizing all their environmental and social resources in a responsible manner. The SRI approach complies with the AFG-FIR Transparency Code and has been certified since 2009. SRI management at PAM has accelerated since 2019, in particular with adherence to the United Nations Responsible Investment Principles (PRI) to reinforce our commitments in terms of asset management. Likewise, at the end of 2020 PAM established a coal policy to align its investment strategies with the Paris Agreements. Palatine Asset Managementmanaged €276 million in SRI assets under management at December 31, 2020.

Since June 2020, Ecofi has become a mission-driven company with four statutory objectives focused on social responsibility and the social and solidarity economy.

Palatine Asset Management (PAM)

Palatine Asset Management (PAM) has been committed to taking climate risks into account in its investment choices for

GROUPE BPCE OVERVIEW: CHANGE IN THE PROPORTION OF ASSETS UNDER MANAGEMENT INCORPORATING ESG CRITERIA INTO SUSTAINABLE INVESTMENT DECISIONS

Change 2019-2020

Indicator (as a %) NIM Affiliates Ostrum AM

2020

2019

2018

21%

24.3% 100%

21%

(13.5%)

Mirova DNCA

100%

100% 2.2% (1) 7.2% (1)

/

29%

3.5% 9.7%

728% 6.7%

Seeyond WCM (1) Ossiam Thematics

10.4% 0.01%

/

/

/

22% 64%

18.3% 100%

N/A

20%

(36%)

Vega Investment Managers

1% 9%

N/A N/A 16%

N/A N/A N/A

Nim Solutions AEW Ciloger

17%

Group’s other management companies Palatine Asset Management

5.8%

3.5%

2.1%

65.7%

Ecofi

77.4%

73.4%

57.9%

5.4%

First year of data collection. (1)

78

UNIVERSAL REGISTRATION DOCUMENT 2020 | GROUPE BPCE

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