Green Evaluation Models: the most carbon-intensive sectors are already covered by steering measures
This graph represents the green evaluation models: the most carbon-intensive sectors are already covered by steering measures.
Major corporates and project finance related notably to energy basic industries and transport.
GWF Climate measurements
Operational
Climate materiality
Coal: approximately €1 billion
Oil and gas: approximately €18 billion
Steel, cement, chemicals: approximately €9 billion
Maritime transport: approximately €8 billion
Shipping: approximately €1 billion
Automotive: approximately €7 billion
Electricity: approximately €17 billion
Sectors where the GWF is to be extended to include the financing of other Groupe BPCE companies.
Climate measures initiated
In progress
Climate materiality
Agriculture: approximately €10 billion
Real estate: approximately €35 billion
Construction industry: approximately €9 billion
Distribution: approximately €25 billion
Climate measures already initiated
In progress
Climate materiality
Consumer credit: approximately €40 billion
Professional equipment loans: approximately €47 billion
Private home loans: approximately €310 billion
2 - Implementation of methodologies to measure the climate impact of Groupe BPCE’s investment portfolios
In order to ensure the overall consistency of its climate commitments, Groupe BPCE draws on all its different business lines, including investment and savings activities. For its insurance business, Groupe BPCE undertook as early as 2018 to align its main insurance fund with the Paris Agreement and further strengthened this commitment in 2020 in order to respect the 1.5°C trajectory by 2030 with more than 10% of its investments placed in green assets every year. Similarly, Natixis Investment Managers is rolling out an ambitious climate-related measurement approach for all its affiliates.
2.1 - Climate assessments for the Group’s asset management activities
In line with its multi-boutique business model, the twenty-two affiliates of Natixis Investment Managers (NIM) use a variety of methodologies and metrics to gauge the climate impact of their discretionary asset management portfolios. In 2021, NIM began work on consolidating the measurement of climate impacts and risks related to the portfolios of all its affiliates covering 75% of the entity’s assets under management, or more than €850 billion of the €1,136 billion of assets managed by the firm.
Owing to differences in methodology, metrics for illiquid portfolios are not consolidated in this report. The aggregated metrics presented in this document relate exclusively to the liquid asset classes covered by S&P Trucost representing 72% of NIM’s assets under management, or an aggregate total of €814 billion.
A composite benchmark has been calculated for the consolidated portfolio of corporate assets - representing a total of €577 billion - in order to compare the temperature of the aggregate portfolio of NIM affiliates with the market. Fifty percent of this benchmark is comprised of the MSCI All Country World Index (MSCI ACWI) and 50% is based on the Bloomberg Barclays Global Aggregate Index.