Becoming a mission-led company has been made possible thanks to the French PACTE law since May 2019. For a company, this entails setting out the contribution it is willing to make to society, in addition to its economic contribution. It allows a company to include its company purpose in its statutes, coupled with the environmental, social and governance objectives which it is committed to pursuing as part of its activity. This act formally binds executives and shareholders to allocate the necessary resources (financial, human, logistical) to carry on this mission. Its implementation is monitored by a dedicated steering committee, in charge of ensuring that actions introduced by the company are in line with this mission. Moreover, the achievement of these objectives is audited by an independent third party.

In June 2021, during the Citizens' Economy Dialogue, La Banque Postale revealed its company purpose to all its stakeholders with a view to becoming a mission-led company. 

La Banque Postale Group’s company purpose

“Because it was created with the purpose of serving the public, La Banque Postale believes there can be no long-lasting value creation without redistribution, no economic growth without local prosperity and no sustainable development without respect for planet boundaries. By offering quality and accessible services, our purpose is to enable everyone to fulfil their potential and to contribute, through their investment, savings, insurance and consumption choices, to building a society that is more attentive to the planet and all who live on it. As a committed banker and insurer, it is our desire to work towards this just transition alongside our customers and employees.”

During the Extraordinary General Meeting held on February 23, 2022, La Banque Postale ratified its new status as a mission-led company and set up a dedicated steering committee which will reinforce its current governance. 

By becoming a mission-led company, La Banque Postale has chosen to include clear and structuring social and environmental objectives in its statutes (see Appendix 1 of the press release (PDF – 0,55 Mo)), which apply to the foundation of its banking model, and to which strict and ambitious performance indicators will be assigned.

A steering committee chaired by the economist Natacha Valla

According to the French PACTE law, a steering committee has been appointed to ensure that actions introduced by La Banque Postale are in line with the social, environmental and regional objectives set by the company. This committee is separate from the company’s corporate bodies and is composed of independent members as well as of internal members of La Banque Postale. It also acts as advisor to the governance bodies. Chaired by Natacha Valla, Economist and Dean at Sciences Po School of Management and Innovation, Paris, the committee has 17-member committee (see Appendix 2 (PDF – 0,55 Mo)) from the economic and financial spheres, the academic world and civil society.

It also includes representatives from La Banque Postale, La Poste Group and Caisse des Dépôts. Each year the committee will present a report to the General Shareholders’ Meeting responsible for approving the company’s financial statements to provide a progress report. The first steering committee meeting will be held on March 23, 2022