Peugeot Invest
Climate Impact & Sustainability Data (2022, 2023)
Reporting Period: 2022
Environmental Metrics
Total Carbon Emissions:81.95 tCO2e (Scope: PFI, Peugeot Invest and EPF staff members)
Total Energy Consumption:69.12 kWh/m2
ESG Focus Areas
- Governance
- Climate Transition
Environmental Achievements
- Reduced the impact of commuting through remote working.
- Reduced the use of plastics.
- Continuing recycling efforts and application of France’s AGEC act regarding plastics use.
- Identification of the main elements of our carbon footprint.
Social Achievements
- Recruitment of an HR officer.
- Introduction of a career management policy and assessment of the Management Committee
- Introduction of a training policy and a related monitoring plan.
- Adoption of a recruitment non-discrimination policy.
- Creation of opportunities for staff to take part in grass-roots projects and skills-based philanthropy assignments.
Governance Achievements
- Set up a Sustainability Committee, which is chaired by the Chair of the Board of Directors and meets at least twice per year.
- Drafting of a Code of Ethics for Établissements Peugeot Frères and its subsidiaries including Peugeot Invest, as part of the Sapin II anti-corruption compliance programme, presented to the Economic and Workforce-Relations Committee (EWC).
- Efforts to raise staff members’ awareness of ethical issues.
- Drafting of a Responsible Purchasing Charter, sent to our suppliers.
Climate Goals & Targets
Short-term Goals:
- Training relating to ethical issues extended to all staff members.
- Further efforts to raise awareness of wellbeing and mental health at work.
- Carbon audit.
- Formal adoption of an environmental charter.
- Ongoing initiatives to reduce the impact of our travel.
Environmental Challenges
- Significant headwinds in 2022 due to challenging overall economic situation.
- Supply-chain difficulties affected its production capacity (Acteon).
- Reputational crisis affecting ORPEA.
- Major shift in the economic environment and an increase in inflation affecting SIGNA Prime Selection.
Mitigation Strategies
- Slowed the pace of investment in 2022 and sold certain assets in order to strengthen our balance sheet and ensure we have sufficient resources with which to seize new opportunities.
- Disposals amounted to €532 million, while investments totalled €329 million.
- Reduced net debt by €261 million to around €885 million at the end of the year, giving us a reasonable LTV of 16%.
- Overhaul of ORPEA’s governance including the appointment of a new Board of Directors and a new management team.
- SIGNA Prime Selection’s management carried out a €750 million capital increase in which its main shareholders participated.
Supply Chain Management
Responsible Procurement
- Responsible Purchasing Charter
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: Afep-Medef Code
Third-party Assurance: Independent third-party for Établissements Peugeot Frères' non-financial publication
Reporting Period: 2023
Environmental Metrics
Total Carbon Emissions:28,178,227.2 tCO2eq (2022)
Scope 1 Emissions:0.2 tCO2eq
Scope 2 Emissions:16 tCO2eq
Scope 3 Emissions:1,211 tCO2eq (excluding investments)
Total Energy Consumption:17,101 MWh (2023)
ESG Focus Areas
- Governance
- Climate Change
Environmental Achievements
- Carried out an initial carbon footprint audit of its investments (scopes 1 to 3), resulting in a total of 28,177,000 tCO2eq for investments and 1,227.2 tCO2eq for Peugeot Invest's operations.
- Defined a materiality threshold for companies from which a carbon footprint (two years) and a transition plan (three years) are requested prior to investment.
- Defined climate targets at portfolio level: a temperature score target of 1.6°C by 2030 (1.5°C by 2040) for direct investments and a target of 55% of assets covered by a reduction trajectory compatible with the Paris Agreements by 2030 for other assets.
Social Achievements
- 100% of employees received the Code of Ethics and 88.2% received ethics training.
- Employees have access to a platform dedicated to mental health.
- Organized a half-day planting of hedges and a visit to a learning factory.
Governance Achievements
- Established a Sustainability Committee reporting to the Board of Directors in 2022.
- All directors received training on climate issues and the ESG regulatory context in 2023.
- Introduced individual ESG criteria for variable annual remuneration for investors (10–15% of variable remuneration).
Climate Goals & Targets
Medium-term Goals:
- 90% of suppliers with a reduction trajectory compatible with the Paris Agreements by 2035 and 50% within five years (2028).
- Temperature score target of 1.6°C by 2030 (1.5°C by 2040) for direct investments.
- 55% of assets covered by a reduction trajectory compatible with the Paris Agreements by 2030.
Short-term Goals:
- Reduce the proportion of estimates in Peugeot Invest’s carbon footprint.
- Encourage assets to audit their carbon footprint for scopes 1 to 3 and their transition plan.
- 100% of suppliers with a carbon footprint by 2035 and 90% within five years (2028).
Environmental Challenges
- Significant difference in coverage of carbon footprint data between asset types (96% for shareholdings, 53% for co-investments, 23% for investment funds).
- Need to raise awareness of major environmental issues and provide specific training to employees.
- High proportion of estimates in Peugeot Invest's carbon footprint.
Mitigation Strategies
- Missing data for carbon footprint were estimated based on extrapolations from existing data or sector studies.
- Implemented a multi-year ESG awareness and training plan for employees and directors.
- Action plan to reduce the proportion of estimates in Peugeot Invest's carbon footprint, including encouraging assets to audit their carbon footprint and transition plans, integrating climate transition into investment policy, and updating sectoral policies.
Supply Chain Management
Responsible Procurement
- Responsible Purchasing Charter