Our sustainability policy

The Caisse des Dépôts Group has made social responsibility one of its overarching ambitions. Each of its areas of expertise and supportive functions contributes to this ambition. Our sustainability policy, which is at the heart of our strategic priorities, aligns with our core values of public interest and long term.

Integrating sustainable development into our activities 

  • As the “bank of the climate”, we facilitate and finance energy and ecological transition, thereby helping France to reach its national target of carbon neutrality by 2050. We also support recognizing the importance of protecting biodiversity and the circular economy.
  • We work towards social cohesion by offering decent homes to everyone, by supporting the educational and professional training sector, the health and elderly care sectors and by fighting against regional inequalities.
  • We contribute to the economic development of regions and enterprises by increasing the attractiveness of regions, assisting enterprises, supporting the creation of very small enterprises as well as small and medium-sized enterprises, stimulating the digital economy. 
  • Acting as an example on an everyday basis by using sustainable financial practices, controlling the impact of our internal operations, guaranteeing loyalty and transparency in our practices and being a responsible employer.

Internal exemplariness  

  • 100% of our assets are managed responsibly
  • 100% of our activities are covered by our Code of Ethics and our anti-corruption policy
  • Internal operations have a limited impact
  • Socially responsible employer


Social cohesion

  • 500,000 new social housing units financed by 2024
  • 33 million target users of the Mon compte formation app
  • Increased funding for education, health and elderly care

Ecological transition

  • €20bn of funding to support ecological transition between 2018 and 2020
  • Greater supervision of the financing of polluting sectors
  • Carbon-neutral financial portfolios by 2050
  • Integrating the preservation of biodiversity into our financing

Economic development

  • 10,000 very small enterprises assisted by 2023
  • Offers of a value of €5bn for regional development
  • Increased funding for green infrastructure and digital initiatives for all regions

To reach these objectives, we apply our policy of social and environmental responsibility (SER) across the organization through extra-financial risk management and the integration of the United Nations Sustainable Development Goals (SDGs). Our aim is to incorporate sustainable development into all of the activities of Caisse des Dépôts, its subsidiaries and its strategic holdings.

Our policy is therefore based on governance through the Group’s decision-making process. This policy applies to all levels of the organization in order to be everyone’s concern. This policy is coordinated by the Sustainability Policy department, whose mission is to drive, coordinate and monitor activities to support the specific divisions and departments of each entity. Since 2019, this service reports directly to the Finance Department of the Group in order to better integrate financial and extra-financial performance.


Finally, our sustainability policy is discussed with our main stakeholders, principally through ongoing dialogue which enables us to all set up new sustainable interventions and specific committees to hear opinions on our policy. 

Incorporating the Sustainable Development Goals into our strategy 

In order to better articulate our missions and sustainability policy, and to give equal importance to all aspects of sustainable development, we have chosen to incorporate the United Nations Sustainable Development Goals into our strategic management.

This international framework, which consists of 17 goals and 169 targets, highlights the global challenges that the planet faces, particularly in terms of inequality, the climate, environmental degradation, peace and prosperity, and maps out how we can create a better and more sustainable future for all by 2030.

In order to meet our greatest challenge of reducing social inequality and regional division, and assisting local authorities and companies in their ecological transition, we have put together a strategy with the other entities in the Caisse des Dépôts Group which allows us to:  

  • Evaluate the most important SDGs in terms of our entities and then in terms of the Group.
  • Increase our impact in these areas by being more analytical and selective about our financing, monitoring our shareholders more systematically or developing specific offers. 
  • Use follow-up indicators as part of the reporting system to monitor and manage these action plans at different levels.

The final phase of the project, which is currently under way, is to set out quantified objectives for each of our priority action plans.

Schéma ODD

Reporting on our extra-financial performance

Since 2001, Caisse des Dépôts voluntarily reports on its extra-financial performance. This reporting has two aims. On the one hand, it is one of our main tools to improve our performance. On the other hand, it is part of our commitment to be transparent with our stakeholders.

Through our reporting, we seek to account for:

  • Risks that we present to the institution, as well as environmental, social and governance risks that could harm our model, in order to meet the legal requirements on extra-financial performance.
  • How our strategy supports our mission to reduce inequality and divisions, through the contribution of our activities to the United Nations Sustainable Development Goals

To achieve this, we are committed to regularly reporting on our action plans, their launch and their impact through performance indicators tracked over time.

We publish this information annually in summary form in our Activity and Sustainable Development Report, and in more detail in its supplement and in the Responsible Investment Report. In addition, various subsidiaries and shareholdings also publish their extra-financial report.


Download the reports:


Various extra-financial rating agencies, such as Vigeo Eiris, ISS ESG (e.g. ISS Oekom), Sustainalytics, which carry out evaluations approximately every two years, recognize our extra-financial performance as being among the best.

Working towards responsible finance

As an investor in patient capital, we take into account environmental, social and governance factors (climate change, resource depletion, job creation, social instability, fraud, etc.) in order to protect the long-term value of our portfolios.

We target our investments in order to make a valuable contribution to the balanced and sustainable development of the economy and society. Therefore, we strive to incorporate the need for ecological and energy transition into our portfolios.

Taking environmental, social and governance (ESG) issues into account throughout the investment process for all of our assets under management is an integral part of the Group’s investment policies. This requires the simultaneous application of three principles:

- ESG integration: analyzing and taking into account ESG criteria in all investment decisions.

- Shareholder engagement: monitoring the development of ESG issues and assisting the companies that we finance in order to encourage them to implement best practices when managing these issues.

- Norm-based and sectoral exclusions: investments in jurisdictions that are weakly regulated, untransparent and uncooperative with regards to tax fraud or involved in money laundering or the financing terrorism are excluded. Similarly, investments in the field of anti-personnel mines and cluster bombs, the tobacco and gambling industries, and thermal coal are also excluded.

These three principles are regularly reinforced through the updating of investment policies approved by the Supervisory Board of Caisse des Dépôts.

A tool makes it possible to annually monitor the implementation of these policies in our investment activities. The result of this monitoring is available in the Annual Report on Sustainable Development and its Responsible Investment Report which sets out our practices, which are in line with transparency requirements set out in French law relating to energy transition for green growth.

Find out more about our responsible financing