La Banque Postale is committed to supporting all its customers in the ecological transition. It is also investing in the international community to address climate challenges. With its new 2030 strategic plan, it reaffirms its ambition to serve the just transition. This ambition implies the integration into La Banque Postale’s model of the systematic measurement of its impacts for all its activities.
After becoming a member of the Net-Zero Asset Owner Alliance – an initiative backed by the United Nations to accelerate the implementation of the Paris Agreement –, in 2019, CNP Assurances committed to make its investment portfolio carbon neutral by 2050.
In 2020, it announced its plan to phase out thermal coal by 2030 in EU and OECD countries, and by 2040 in the rest of the world. In addition, CNP Assurances confirmed its exit from tobacco with its adherence to the Tobacco-Free Finance Pledge. In two years, the assets invested in this sector have already been divided by three to less than €200 million at the end of 2020.
In February, 2022, CNP Assurances decided to no longer finance new oil and gas projects or invest more money in companies planning to do so, joining the growing ranks of insurers taking a more pro-active approach to tackling global warming. This new policy was in response to scientific reports, including one by the International Energy Agency, saying new projects aren’t needed if the world wants to limit global warming to 1.5 degree Celsius above pre-industrial norms.
Lastly, by signing the Principles for Responsible Insurance, CNP Assurances committed to including ESG (environmental, social and governance) criteria in all its business activities and decisions.