NATIXIS -2020 Universal Registration Document

6 2020 NON-FINANCIAL PERFORMANCE REPORT

Business line contributions to green and sustainable growth

The fight against climate change is a priority for AEW Capital Management and transition risks are integrated throughout the life cycle of an investment.This includes political and technological risks as markets around the world transition to a low-carbon economy. With respect to the portfolios for which the Company has metrics (these portfolios represented in 2019 approximately 44% of the Company’s overall US real estate portfolio on a market value basis), AEW expects to meet or exceed its target of a 1.5% year-on-year reduction of water and energy consumption, GHG emissions (scopes 1 and 2) and waste production by 2020. The GHG emissions of these portfolios were down by 2.1% in 2019 compared to the previous year. In 2021, AEW will develop and implement a resilience program that will align with TCFD recommendations and write its first TCFD report. The resilience program will include: the assessment of reduction targets and the determination of an V updated target that aligns with the SBTI (Science Based Targets Initiatives) with an annual reduction of at least 2.5% of identified GHG emissions; the reduction of energy, water and waste consumption to achieve V reduction targets by improving operational efficiency; the study of the impact of a commitment to Net Zero in one or V more portfolios; the strengthening of energy sources with low or zero emissions. V Meeting the growing need for decarbonization and adaptation to climate change is essential to develop resilient infrastructure. Vauban IP thus excludes investments in the exploration and production of fossil fuels (coal, oil, shale gas and gas), and annually assesses the carbon footprint of the assets in the portfolio (on scopes 1, 2 and 3). This assessmentmakes it possible to identify the levers for action to reduce and avoid GHG emissions, to engage in dialog with joint ventures on these actions, and to discuss compensationsolutionswhen emissionscannot be avoided. Vauban IP is also part of the TCFD approach and is committed to offsetting its own carbon emissions. Harris Associates takes into account climate risk on a case-by-case basis, depending on the exposure of individual companies to material risks related to climate change. For example, the likelihood of costs due to climate-related regulation is considered, as well as potential market growth opportunities in areas such as cleaennergy. Since December 2020, NIM solutions has access to Trucost’s climate data to holistically support its clients in measuring and integrating climate criteria into their investments. This will be done through various services:

portfolio analyzes through a climate prism, making it possible to V take stock of customer portfolios (carbon intensity, alignment with the Paris Agreement, physical risk, transition risk, etc.). This step enables customers to be supported in the implementationof their socially responsible policies; integration of climate criteria in the construction of support V solutions (construction of strategic allocation or selection of investment vehicles, for example); investment solutions integrating clients ‘climate considerations V through multi-asset class products, structured products and/or carbon offsetting products; extra-financial reports including the measurement of carbon V emissions, carbon intensities, portfolio temperature, allowing clients to have transparency about their investments from a climate perspective; a strong presence in methodological research and development V in this sector where the issues of convergence of standards and practices are essential. This will include the co-publication of a “White Paper” with Trucost on the issues of methodological consistency of a common analysis framework for alignment with the Paris Agreement for multi-class asset portfolios. In 2018, Natixis Assurances made a proactive tangible commitment to combat climate change by aligning its investment policy with the 2°C climate scenario set in the Paris Agreement. Each year, Natixis Assurances will devote nearly 10% of its new investments to green assets, with a target of 10% of its total investments being in green assets by 2030. In 2020, Natixis Assurancesachieved its target in October, and more than €880 millionwere invested in green assets during the year. With this policy, Natixis Assurances intends to encourageand give priority to companies that contribute to the energy and ecological transition. Its commitment covers all its investment portfolios (excluding unit-linked policies). Natixis is involved in several initiatives with other financial institutions seeking to establish industry-wide methodological principles for calculating the carbon footprint of the portfolios managed by banks, insurers and asset managers (including working groups under the UNEP FI). Given the wide variety of its business lines, Natixis is particularly keen to find common principles that will ensure consistency in how it quantifies the carbon footprint of its different activities. These principles will provide a framework in which to establish detailed targets for reducing this carbonfootprint.

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NATIXIS UNIVERSAL REGISTRATION DOCUMENT 2020