Climate Change Data

Environmental Metrics

ESG Focus Areas

• Climate Change
• Biodiversity
• Social Inclusion
• Energy Transition
• Responsible Investment
• Governance

Environmental Achievements

• Contribution to 13.5 GW of renewable energy production capacity (2025 target: 14 GW)
• Reduced thermal coal exposure to 5% of turnover limit for (Euros funds) emitters
• 50% of CAA's energy mix from renewable energy
• Environmental certification on over 50% of our real estate assets in m2
• Investments in three thematic funds related to biodiversity
• Investments in two funds for decarbonization and one for mobility

Social Achievements

• Launched an innovation challenge dedicated to water-related risks, integrating climate and energy transition
• Investment in Canadian company Innergex (17 wind farms, 324 MW)

Governance Achievements

• 90% of Euros fund covered by ESG analysis (Predica: 90%)
• 23% of opposition votes in general meetings (Predica: 22%)
• 14% of assets eligible (turnover) for the EU Taxonomy, with 3% aligned (Predica: 15% eligible, 3% aligned)
• Rehabilitation of assets in the real estate portfolio (e.g., Carré Vert)

Climate Goals & Targets

Environmental Challenges

• Numerous uncertainties exacerbated by geopolitical tensions and increasing extreme climate events
• Anticipating the challenges of an aging population and the need for better access to healthcare and aging well
• Lack of transparency in ESG practices in private markets
• Limited data availability for assessing biodiversity impact

Mitigation Strategies

• Developed alternative sourcing strategies
• Investing in programs for housing, food, health, and digital access
• Developed a specific ESG rating system for direct investments
• Collaborating with external experts and data providers to improve data coverage

Supply Chain Management

Responsible Procurement

• Sustainable procurement practices integrated into investment decisions

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events (storms, floods, droughts)
• Impacts on real estate and energy infrastructure

Transition Risks

• Regulatory changes
• Market shifts
• Changes in consumer preferences

Opportunities

• Investments in renewable energy
• Energy efficiency improvements in real estate

Reporting Standards

Frameworks Used: PRI (Principle for Responsible Investment), TCFD (Task Force on Climate-related Financial Disclosures), PSI (Principles for Sustainable Insurance), NZAOA (Net-Zero Asset Owner Alliance), SFDR (Sustainable Finance Disclosure Regulation), EU Taxonomy

Certifications: HQE, BREEAM, LEED, ISR, Greenfin, Finansol

UN Sustainable Development Goals

• Goal 7 (Affordable and Clean Energy)
• Goal 13 (Climate Action)

Investments in renewable energy and climate mitigation initiatives contribute to these goals.

Sustainable Products & Innovation

• Sustainable real estate investments
• Renewable energy investments

Awards & Recognition

• Limited Partner (LP) most engaged award from Agefi Private Equity

Environmental Metrics

ESG Focus Areas

• Environmental

Environmental Achievements

• 84.4% of investee company revenues estimated from the energy transition sector
• Weighted average MSCI ESG score of 7.6
• Weighted average carbon intensity of 399.3 tons CO2e / million USD sales

Social Achievements

• Not disclosed

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Not disclosed

Mitigation Strategies

• Not disclosed

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• ESG-related exclusions

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: EU Taxonomy

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• Portfolio's weighted internal ESG rating shows attainment of environmental characteristics. Reduced brown share of investments (exposure to fossil fuel industries).

Social Achievements

• Close attention paid to the analysis of human capital and corporate governance. Weighted internal rating to assess the quality of management.

Governance Achievements

• Close attention paid to the analysis of human capital and corporate governance. Weighted internal rating to assess the quality of corporate governance.

Climate Goals & Targets

Environmental Challenges

• Risk that the model for internal ESG scoring may not fully meet the purposes for which it has been developed.
• Investment decisions may not be consistent with ESG criteria.

Mitigation Strategies

• Uses a two-stage approach: exclusions and ESG rating. Applies strict exclusions to companies that do not respect the UN Global Compact and sectoral exclusions for various industries. Companies rated 1 out of 5 on the internal rating scale are excluded. Seeks to maintain an average ESG score greater than that of its benchmark index.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: UN Global Compact, OECD Guidelines for Multinational Enterprises, EU Taxonomy (partially)

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• Weighted average ESG rating of the portfolio improved to 0.942 (C) from 0.92 (C) in the previous period, significantly higher than the investment universe's rating.

Social Achievements

• Improved Board of Directors’ diversity, exceeding the sector average.

Governance Achievements

• Continuous monitoring of controversies related to work conditions and human rights, with remediation efforts.

Climate Goals & Targets

Environmental Challenges

• Data limitations for EU Taxonomy assessment of some issuers.
• Lack of appropriate methodology to determine taxonomy-alignment of sovereign bonds.

Mitigation Strategies

• Utilizing two DNSH filters, including monitoring mandatory Principal Adverse Impacts indicators and an overall ESG score assessment.
• Using turnover, CapEx, and OpEx data for EU Taxonomy alignment where available.

Supply Chain Management

Responsible Procurement

• Controversy screening against UN Global Compact Principles

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: SFDR

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• At least 10% of net assets invested in other environmental investments; At least 80% of net assets aligned with environmental and social characteristics; Portfolio’s weighted ESG rating used to assess the attainment of environmental, social and governance characteristics; Reduction of investment universe by at least 20% through ESG criteria

Social Achievements

• Weighted MSCI score used to assess human capital; Consideration of principal adverse impacts (PAI) including gender pay gap and board gender diversity

Governance Achievements

• Weighted MSCI score used to assess the quality of corporate governance; Exclusion of companies with controversies (industrial accidents, pollution, corruption, etc.); At least 90% of issuers in the portfolio have an ESG rating; Application of UN Global Compact exclusion list

Climate Goals & Targets

Environmental Challenges

• Managing adverse impacts on sustainability factors (PAIs), including greenhouse gas emissions, fossil fuel exposure, biodiversity, and human rights

Mitigation Strategies

• Application of pre-trade rules for significant PAIs (controversial weapons, biodiversity impact, UN Global Compact violations, fossil fuel exposure); ESG analysis considering other PAIs; Exclusion of sectors with significant adverse impacts (oil and gas, tobacco, alcohol, gambling, coal); ESG rating process to exclude lowest-rated companies

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: MSCI ESG Research, UN Global Compact, OECD Guidelines for Multinational Enterprises, EU Taxonomy

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Climate Goals & Targets

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: MSCI ESG Research