Établissement de Retraite additionnelle de la Fonction publique

Climate Impact & Sustainability Data (2022)

25% reduction in carbon intensity of AOA listed company portfolio between 2019 and 2024 (scopes 1 and 2)
15% reduction in surface intensity of AOA real estate portfolio between 2019 and 2024
Alignment with the CRREM 1.5°C scenario for 2025 (scopes 1 and 2 and part of scope 3 emissions) for AOA real estate portfolio
Significant reduction in carbon intensity across equity, corporate bond, and convertible bond portfolios (2016-2022)
Reduction in absolute emissions attributed to ERAFP across all three portfolios (2019-2022)

ERAFP's board of directors includes representatives of active contributors and employers, promoting labor-management dialogue and respect for union rights
Commitment to upholding the rule of law and human rights through sovereign and private investments
Expectation of companies to incorporate principles of just transition into their strategies
Improved ESG reporting from management companies (65% in 2022 vs 43% in 2021)

Board of directors oversees SRI approach, monitoring its application based on information from the investment policy monitoring committee (CSPP)
SRI policy applies to all investments and asset classes
ESG considerations represent 10% to 15% of the rating assigned to candidates for new management mandates
Annual updates to shareholder engagement guidelines
Annual SRI training for Scheme directors

Long-term Goals:

Medium-term Goals:

Increase investments in assets contributing to energy transition
Achieve 50% of listed company portfolio's carbon footprint with SBTi-validated targets aligned with 1.5°C or lower by 2050

Short-term Goals:

Data collection challenges for ESG reporting, particularly for unlisted assets and scope 3 emissions
Lack of granular data for certain sectors (e.g., petrochemicals)
Low response rate from underlying companies in private equity portfolio
Complexity of biodiversity data and metrics
Insufficient information provided by issuers on green bonds

Development of specific provisions for applying SRI guidelines to different asset classes
Use of quantitative rules to define eligible investment universe
Best-in-class approach for issuer selection
Engagement with companies to improve transparency and ESG performance
Collaboration with data providers (Moody's ESG Solutions, Sustainalytics, S&P Global, Carbone 4, Iceberg Data Lab, CBRE Conseil & Transaction) to improve data quality and coverage
Redesigning questionnaires to improve response rates
Development of internal training programs on ESG and climate-related issues

Frameworks Used: TCFD, SFDR, Article 29 of the French Energy and Climate Law

ERAFP's investments in renewable energy, just transition initiatives, and climate change mitigation contribute to these goals