Our commitment


We are committed to taking into account the financial performance potential and the level of corporate social responsibility of the companies in which we invest. To keep our promise to help our clients build and implement their own responsible investment strategy, we are constantly innovating. We are now offering a whole new generation of SRI funds, specifically positive-contribution and impact investing funds. 

LBP AM is an SRI leader in France, drawing on more than 20 years of experience in responsible investment

 

Since 31 December 2020, 100% of our eligible assets are responsibly invested, i.e. €26.5bn. 106 funds have obtained Label ISR certification, sometimes combined with other certifications such as Greenfin (formerly “TEEC” for energy and ecological transition for the climate) and Finansol (solidarity-oriented savings).

Impact investing: the new frontier of sustainable finance 
According to the Global Impact Investing Network (GIIN), impact investments are “investments made with the intention to generate positive, measurable social and environmental impact alongside a financial return.”

To that end, impact investing employs financial tools meeting three criteria: 

1. Intentionality: an investor’s intention to have a positive social or environmental impact;
2. Additionality: the investor’s engagement and contribution (financial or non-financial) enables the company receiving the funds to maximise its social or environmental impact;
3. Measurability: measurement of the impact based on the implementation of social or environmental objectives, tracking of results and an ongoing evaluation process.

With an impact investing fund, we can thus prove the additional positive contribution to ESG objectives made by our investments. 

LBP AM’s range of impact investing funds includes SRI Human Rights, managed in partnership with the International Federation for Human Rights (“FIDH”); ISR Actions Solidaires, aimed at supporting organisations that finance projects generating high social utility (France Active Investissement, Habitat & Humanisme and Union Française pour le Sauvetage de l’Enfance); and for institutional investors the first climate-impact infrastructure debt fund, classified under “Article 9” of the Sustainable Finance Disclosure Regulation (SFDR) and targeting an investment universe that is compatible with the European taxonomy.

Striving for finance that makes a difference
Choosing to adopt a 100% SRI approach in managing our open-ended funds eligible for State certification is already a strong commitment. We have taken our commitment to sustainable finance one step further by implementing a structured four-tiered approach: Human Rights & Equality, Biodiversity, Climate, Local and Regional Territories & Employment. In line with the four pillars of our GREaT non-financial analysis method, they inform a deliberately restricted engagement in an effort to support our essential convictions in our investment strategies, product creation and implementation of partnerships. 


Human Rights & Equality
We are carrying on our longstanding partnership with the International Federation for Human Rights (“FIDH”), focusing in particular our investment choices on consumer rights, supply chains and issues relating to equity and social justice. This is the very embodiment of funds such as SRI Human Rights and Tocqueville Silver Age ISR. We also take part in multiple investor groups to encourage best practices in human rights and equality.


Biodiversity
La Banque Postale Asset Management has undertaken to deploy an ambitious strategy in favour of biodiversity by signing the Finance for Biodiversity Pledge alongside La Banque Postale.
 
Thanks to our partnership with CDC Biodiversité, as an asset management company we help fund projects supported by Nature 2050*, by contributing part of our Private Debt management fees.

* Programme launched by CDC Biodiversité with the aim of putting forward concrete solutions to preserve and increase biodiversity in France and the Overseas Departments and Territories. 

We also entered into a partnership with Carbon4 Finance in order to measure the biodiversity impact of our funds by relying on the Biodiversity Impact Analytics database powered by the Global Biodiversity ScoreTM (BIA-GBS).

Combining the renowned experience of Carbon4 Finance in climate data and the robustness of the GBSTM biodiversity footprint methodology, investors are able to use this database to assess the impact of their portfolio on biodiversity, with broad coverage of listed assets.

With this tool in its toolbox, LBP AM can perform an additional impact measurement used to analyse multiple biodiversity pressure points such as climate, pollution and over-exploitation of resources.

 
Climate 
With Carbon4, the leading independent advisory firm specialising in low-carbon strategies and adaptation to climate change, we helped develop a methodology to measure an investment portfolio’s alignment with a 2°C scenario, in accordance with the Paris Agreement. 

Alongside organisations such as CDP and the Climate Transparency Hub , we implement an ambitious climate strategy interlaced with rigorous sector strategies and investment in companies committed to the fair transition of their operations. We were recognised for the second year in a row at the Climetrics Fund Awards 2021.  


Local and Regional Territories & Employment 
In a bid to promote training and employment in the local and regional territories, we are developing a range of solidarity-oriented funds, comprising six funds totalling €350m in assets under management, o/w €25m in funds invested in the capital of solidarity organisations to support their projects (at 31/06/2021). 

What’s more, we are also pioneers for having included an ESG analysis chart in the investment process of our infrastructure debt funds starting in 2016. By measuring the socio-economic footprint of the investments made by EY, our portfolio managers can determine the national and European socio-economic effects over the average lifespan of debt in terms of employment (jobs supported) and value add (contribution to GDP), based on the cost structure of the projects. 

Always supporting our clients 
Supporting the transition to sustainable finance means taking the sensitivities and constraints of our clients into account. We offer an investment range integrating non-financial criteria and a range of fully flexible SRI solutions. 

This also means having a bold voting policy to encourage companies to make the necessary choices for the sustainable development of their activity, while also stressing rigorous risk management to protect the interests of our clients. We take a demanding and constructive look at each company in which we invest. Demanding, as reflected in our SRI analysis and our average “Against” votes of 28% at General Meetings. Constructive, through an ongoing dialogue and our selection of instruments to fund the transformation of the industries most in need. 

Lastly, it means implementing an exclusion policy designed as a tool to drive progress towards a fair transition, one that does not sacrifice employment on the altar of energy strategy. This is the principle of our coal policy. All our investments in the mining sector and electricity generation industry are in companies that have announced a structured coal exit plan, aligned with the 2°C target set by the Paris Agreement, while strictly managing the social impact generated by restructuring their activity.