(Boursier.com) — Coface strengthens its environmental commitment by joining the Net-Zero Asset Owner Alliance (NZAOA) and signing the Principles for Responsible Investment (PRI) in line with the Paris Agreements aimed at limiting global warming to 1.5oC by the end of the century.
Launched in September 2019 under the auspices of the United Nations, the NZAOA is a group of international institutional investors committed to moving their investment portfolios towards carbon neutrality by 2050. The PRI is a global initiative launched under the United Nations initiative encouraging companies to adopt environmental issues in their investment practices.
By joining the Net-Zero Asset Owner Alliance, Coface undertakes to:
-Actively manage its investment portfolio by supporting the 20 main contributors to emissions to reduce their carbon footprint
-Reduce the carbon footprint of its investment portfolio by 30% by 2025 and by at least 40% by 2030 (compared to 2020)
-Prove the progress made in financing the energy transition to the Alliance
These commitments mark a new step in Coface’s environmental strategy, which has already reviewed its credit insurance subscription policy in order to exclude any new policy covering activities linked to oil and gas. These exclusions are in addition to those for coal-related activities, which have already been in place for many years.
Coface also continues its support for long-term ESG projects as part of its Single Risk insurance solutions.
“By joining the Net-Zero Asset Owner Alliance, we are strengthening our commitment to supporting the energy transition and achieving carbon neutrality by 2050 through an intermediate target for decarbonization of our investment portfolio set at -30% by 2025″ commented Carole Lytton, General Secretary of Coface.
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