La Banque Postale Asset Management
Climate Impact & Sustainability Data (2023)
Reporting Period: 2023
Environmental Metrics
Total Carbon Emissions:706 tonnes of CO2e per €1 million invested (scopes 1, 2, and 3)
Carbon Intensity:706 tonnes of CO2e per €1 million invested (scopes 1, 2, and 3)
ESG Focus Areas
- Climate Change
- Biodiversity
- Human Rights
- Governance
Environmental Achievements
- Continued technical work on climate tools and data, aiming for 80% of AuM aligned with Paris Agreement decarbonation targets by 2030.
- Deployed new exclusion and engagement policies for biodiversity, setting ambitious shareholder expectations.
- Developed a new indicator for evaluating companies’ biodiversity management.
Social Achievements
- Unveiled a Human Rights Policy based on international standards, implementing enhanced due diligence initiatives.
Governance Achievements
- Redesigned corporate governance for responsible investment, establishing dedicated committees.
- Integrated sustainability risks into the remuneration policy, with at least 5% extra-financial objectives in variable remuneration.
Climate Goals & Targets
Long-term Goals:
- Achieve carbon neutrality of portfolios by 2050.
Medium-term Goals:
- Achieve 100% AuM alignment with Paris Agreement decarbonation targets by 2040.
- Set quantitative targets for biodiversity impact reduction by the end of 2024.
Short-term Goals:
- Align 80% of total AuM with Paris Agreement decarbonation targets by 2030.
Environmental Challenges
- Difficulty in recruiting women in core business lines.
- Challenges in applying value-sharing KPIs in Sustainable Linked Loans due to labor law regulations.
- Data limitations in assessing the financial impact of biodiversity and human rights risks.
- Limited control over outcomes of shareholder engagement activity.
Mitigation Strategies
- Developed an action plan to address Scope 3 emissions by 2026.
- Developed alternative sourcing strategies (not explicitly stated, but implied through engagement with suppliers).
- Active watch for methodological advances in assessing financial impact of biodiversity and human rights risks.
- Active participation in industry initiatives and collaborative engagement campaigns to influence companies.
Supply Chain Management
Responsible Procurement
- Responsible procurement policy (mentioned, but details lacking).
Climate-Related Risks & Opportunities
Physical Risks
- Extreme weather events
Transition Risks
- Regulatory changes, market shifts
Opportunities
- Development of energy-efficient products and services
Reporting Standards
Frameworks Used: French Energy and Climate Act (LEC), SFDR, TCFD, UNGP, OECD Guidelines, UN Global Compact
Certifications: ISR (French SRI label), Greenfin
Sustainable Products & Innovation
- SRI-labelled funds, Greenfin-labelled funds, impact investing strategies
Awards & Recognition
- Agefi’s Sustainable Finance Prize
- Funds – Option Finance Digital Innovation Prize