Climate Change Data

Environmental Metrics

ESG Focus Areas

• Inclusion
• Sustainable Finance
• Territorial Cohesion and Economic Support
• Green Transition
• Civic-Minded Employer

Environmental Achievements

• 62,283 tCO2e of greenhouse gas emissions offset in 2020 (11% reduction compared to 2019; 32% reduction for the Bank’s operating scope over 2013-2020)
• Carbon neutrality achieved for the Bank’s operating scope in 2018
• Goal of net-zero emissions across all banking activities by 2040 announced

Social Achievements

• More than €1 billion in government-backed loans granted to businesses during Covid-19 crisis
• Special scheme for welfare benefit payments (€600 million in cash in one week) during Covid-19 crisis
• Mortgage payment deferrals for up to four months during Covid-19 crisis
• €50 million made available by CNP Assurances to cover employee time off due to school closures
• 1.5 million customers benefit from accessible banking mission
• 1.4 million financially vulnerable customers supported
• 127,000 training days provided in 2020

Governance Achievements

• New CSR governance in 2021, reporting directly to the Chairman of the Executive Board
• 100% of eligible open-end funds at LBP AM are SRI-labelled
• 95% of discretionary management SRI-labelled at BPE

Climate Goals & Targets

Environmental Challenges

• Social exclusion
• Data privacy
• Discrimination

Mitigation Strategies

• Accessible banking mission
• Dedicated support for financially vulnerable customers
• Risk management scheme addressing extra-financial risks

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI, UN Principles for Responsible Investment, UN Principles for Sustainable Insurance, Science-Based Targets initiative, Tobacco-Free Finance Pledge, UN Principles Responsible Banking, Equator Principles, Collective Commitment to Climate Action

UN Sustainable Development Goals

• 3
• 7
• 8
• 10
• 13

Environmental Metrics

ESG Focus Areas

• Green
• Social
• Sustainability

Environmental Achievements

• GHG emissions reduction targets in line with 1.5C as per the Science-Based Targets Initiative

Social Achievements

• Continues to provide banking access to around 1.4 million people who would otherwise be deprived of banking services
• Has a larger share of financially vulnerable clients than private-sector French banks

Governance Achievements

• Established a Sustainability Engagement Committee with clearly defined roles and responsibilities for project evaluation and selection

Climate Goals & Targets

Environmental Challenges

• Some categories lack specificity in terms of definitions or geographic criteria, or a focus on the target population most in need

Mitigation Strategies

• Comprehensive and transparent project evaluation and selection process, including a robust environmental and social risk mitigation process
• Monitoring of eligibility and controversies throughout the lifetime of the bond

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: ICMA Green Bond Principles (GBP) 2021, Social Bond Principles 2023, Sustainability Bond Guidelines 2021, EU Taxonomy

Third-party Assurance: LBP’s auditors

UN Sustainable Development Goals

• 1
• 2
• 3
• 4
• 6
• 7
• 8
• 9
• 10
• 11
• 13

The 10 eligible categories included in LBP's framework are likely to contribute to 11 of the UN SDGs

Environmental Metrics

ESG Focus Areas

• Climate Change
• Biodiversity
• Social Inclusion
• Territorial Cohesion

Environmental Achievements

• Committed to reduce absolute scope 1 and 2 GHG emissions 46% by 2030 from a 2019 base year
• Reduce indirect Scope 3 – Category 15 GHG emissions from its Retail Customers Mortgages portfolio by 46% per sq.m over the period 2020-2030
• Reduce indirect Scope 3 – Category 15 GHG emissions from its commercial property portfolio by 36% per sq.m over the period 2020-2030
• Continue to finance only energy projects based on renewable energy
• Aligned temperature of its large corporate equity and bond portfolio from +3.1°C in 2019 to 2.2°C in 2025 (Scopes 1 & 2) and from 3.2°C in 2019 to 1.9°C in 2025 (Scopes 1, 2 & 3)
• Aligned temperature of its medium/long-term large corporate loan portfolio from 3.1°C in 2019 to 2.3°C in 2025 (Scopes 1 & 2) and from 3.1°C in 2019 to 2.1°C in 2025 (Scope 1, 2 & 3)

Social Achievements

• 64% of offers submitted to the Product Review Committee were identified as sustainable in 2022 (goal is 80% by 2025)
• Implementation of an ESG checklist with 29 questions focusing on customer experience and community ambition
• Financing of affordable housing, access to essential services (healthcare and education), socioeconomic advancement and empowerment, and development and territorial cohesion

Governance Achievements

• Established a Sustainability Engagement Committee to monitor the Process for Project Evaluation and Selection
• Implementation of policies on Oil and Gas, Coal, and Aviation sectors, with commitment to complete withdrawal from fossil fuel industries by 2030
• Integration of ESG risks in its Risk Appetite Statement and Risk Management Policy

Climate Goals & Targets

Environmental Challenges

• Managing the transition away from fossil fuels
• Ensuring alignment with evolving ESG regulations (e.g., EU Taxonomy)

Mitigation Strategies

• Developed and implemented sector-specific policies (Oil & Gas, Coal, Aviation)
• Established a Sustainability Engagement Committee for oversight and framework updates
• Regularly updates its Green, Social and Sustainability Bond Framework to align with best market practices and applicable requirements from sustainable finance regulation

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: Green Bond Principles (GBP), Sustainability Bond Guidelines (SBG), Social Bond Principles (SBP), EU Taxonomy

Third-party Assurance: Moody’s (Second-Party Opinion); La Banque Postale’s auditors (annual limited assurance report)