The French insurer CNP Assurances announced on Tuesday a toughening of its exclusion policy in terms of thermal coal and a doubling of its impact investments to reach one billion euros by 2025.
The group is strengthening its sectoral policy on thermal coal by excluding from 2023 any new direct investment in a company whose turnover is more than 5% linked to thermal coal, against 10% previously, he explains in a communicated
The public insurer is also committed to doubling its impact investments to reach one billion euros by the end of 2025.
These types of investments formalize the extra-financial commitments of borrowers (social and environmental) and financially encourage them to make a positive contribution (create jobs, commit to equality, integrate more disabled workers, etc.).
They are judged by the subsidiary of the Postal Bank, itself placed under the aegis of the Caisse des Dpts (CDC), to be more demanding than those benefiting from a sustainable finance label (ISR, Greenfin, Finansol) or those integrating ESG filters in their investment decisions.
The insurer also estimates that it will be ahead of the meeting it had set for itself at the end of 2025: reaching 25 billion euros in green investments, made up of green bonds issued by governments and companies, buildings with an energy or environmental label, labeled funds with a sustainable environmental investment objective, or unlisted infrastructure and companies whose main activity is linked to the environment.
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CNP Assurances also announced in February the immediate cessation of financing for any new oil and fossil gas exploration or production project, whether conventional or unconventional.
An almost perfect policy on oil and gas production, had then greeted Lucie Pinson, director of the NGO Reclaim Finance.