Member of the Executive Management Committee, Head of Retail Banking and Insurance, Groupe BPCE
“Being present for our customers, providing support during major changes in society, rising to the challenges of our time: these are the vocations written into the DNA of the Banques Populaires and Caisses d’Epargne, two networks of cooperative banks boasting deep roots in their local catchment areas. Today of course, one of their key priorities is the fight against global warming, and for several years we have been mobilized in favor of a more sustainable form of finance and a more environmentally friendly society. Present times invite us to speed up still further our pursuit of these objectives, and to help our customers to navigate their own transitions. However, private individuals, professionals, and SMEs do not always enjoy the means to take these vital steps. It is up to us to design solutions and support our customers in pursuit of their projects related to energy renovation, sustainable mobility, renewable energies or savings & insurance solutions… areas in which we will be strengthening our offerings. The challenge is immense… but so is our determination!”
3.3.2 - Insurance
In the areas of life and non-life insurance, the Group undertakes to:
Align the investments of its Euro-denominated main fund with the 1.5°C trajectory as of 2030 by doubling its green assets and withdrawing all its liquid assets rated ‘negative2‘ when judged against ESG criteria,
- Double the number of labeled funds available to customers of the Banques Populaires and Caisses d’Epargne the unit-linked funds of their life insurance products (from 28% today to 60% in 2024),
- Develop a prevention policy that has a tangible impact on the fight against global warming,
- Enhance the sustainability of insurance claims management.
The sustainable investment strategy adopted by Groupe BPCE for its insurance activities is designed to identify, measure, and take account of sustainability issues in the Group’s investment policy. It uses Mirova’s non-financial rating system based on an analysis grid designed to assess sustainability risks and the negative impacts of the portfolio on sustainability factors. This analysis takes a two-pronged approach:
- A global approach to environmental, social and governance quality (ESG) issues,
- A strategic approach to climate issues.
Supporting green transition projects with the European Investment Bank
In order to improve the support it provides its customers, Groupe BPCE regularly negotiates funding envelopes with the European Investment Bank (EIB) designed to support high-quality investments that contribute to the realization of some of the European Union’s major objectives. In this way, the Group obtained a €300 million loan in December 2020 to enable SMEs and intermediate-sized enterprises to pursue ecofriendly projects (PME & ETI Croissance verte) and is currently negotiating another line of credit for the same amount entitled Action pour le Climat II destined to finance renewable energy projects.
2. According to the methodology used by Natixis Assurances.