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Climate change: exceeded objectives and new commitments for Caisse des Dépôts

On 13 December in connection with the anniversary of the Paris Agreement, Caisse des Dépôts announced that it was continuing its strategy of integrating climate change into the management of its financial portfolios and project financing. New commitments are made in favor of financing the ecological and energy transition, such as directing the sums collected under Livret de développement durable et solidaire towards financing projects with a favorable climate impact.

Energy and the environmentFinance
13December2017

Committing as a stakeholder and investor

E Lombard et N Dufourcq
To strengthen their shareholder commitment measure, Caisse des Dépôts and CNP Assurances are joining the international collaborative commitment initiative, Climate Action 100+. This initiative aims to bring together and coordinate the largest international networks of investors active on this issue, so that they commit the 100 biggest emitters of greenhouse gases to improving their climate reporting, implementing governance appropriate for the climate stakes and defining then communicating the greenhouse gas emission reduction targets.

 

In the context of Climate Finance Day on 11 December, Caisse des Dépôts signed the French investors’ charter for climate commitment, alongside Bpifrance. The signatories are committing to implementing joint principles, including principles of shareholder dialogue, to ensure the consistency of their activities with the Paris Agreement targets.

 

Reducing the carbon footprint of portfolios

 

The objectives announced by Caisse des Dépôts on Climate Finance Day in 2015 were exceeded: by way of an example, the carbon footprint of its equity portfolio has reduced by 27% between 2014 and 2016 (20% reduction planned). Caisse des Dépôts is extending its 20% carbon footprint reduction commitment to the bond portfolios of companies over the 2014-2020 period.

 

Financing the energy transition

Finance verte

On the Climate Finance Day that it had instigated in 2015, the Caisse des Dépôts group had committed to dedicating €15bn of funding to the energy and ecological transition (EET) between 2014 and 2017. This aim has already been achieved and even surpassed. In addition to these commitments, on 22 February 2017, Caisse des Dépôts launched its first green bond for an amount of €500mn, designed to finance high performing real estate, renewable energy and the clean-up of sites.

 

To see more on Caisse des Dépôts' commitments, read the press release and its appendix (in French)

 

On 8 December, CNP Assurances announced €5bn of new investments in favour of the EET by the end of 2021, the adaptation of its action investment strategy by aligning the management of portfolios with indices favouring the EET and the intensification of its commitment to reduce their carbon footprint. Read the press release (in French)

 

On 11 December, Icade committed, alongside eight of the main industrial issuers of green bonds (EDF, Enel, Engie, Iberdrola, Paprec, SNCF Réseau, SSE and TenneT), to continue the development of one of the most dynamic segments of sustainable financing today, the green bond market. Read the press release (in French)

 

 

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