(Boursier.com) – A few days before Climate Finance Day, CNP Assurances announces that the strong mobilization of its European subsidiaries will enable it to reach its target of 25 billion euros in green investments by the 2025 deadline.
CNP Assurances also commits to double its impact investments to reach 1 billion euros by the end of 2025 and to exclude from 2023 any new direct investment in a company where more than 5% of turnover is linked to thermal coal, compared with to 10% previously.
These new commitments are part of the Caisse des Dépôts group’s climate policy.
Financing of the ecological and energy transition
Despite their growth, investments in energy and ecological transition remain insufficient to comply with the Paris Agreement. In October 2022, the Institute of Economics for Climate estimated the additional private and public investments to be made in France to enter the path to carbon neutrality at between €13 billion and €30 billion per year. This finding is the same in other countries.
To help limit global warming to 1.5oC, CNP Assurances relies on its multi-partner and international model and mobilizes its European subsidiaries to reach its target of €25 billion in green investments by the 2025 deadline.
CNP Assurance’s subsidiaries in Italy, Ireland and Cyprus will thus almost double their efforts to reach 2 billion euros in green investments by the end of 2025.
These green investments correspond to green bonds issued by states and companies, buildings that benefit from an energy or environmental label, funds classified according to Article 9 of the SFDR regulation and with an environmentally sustainable investment objective, and infrastructures and unlisted companies , whose main activity is related to the environment.
Support for the impact finance ecosystem
CNP Assurances is also committed to doubling its impact investments to reach €1 billion by the end of 2025, in line with La Banque Postale group’s ambition in impact financing.
CNP Assurances bases itself on the definition of impact investments adopted in 2021 by the Paris market.