The insurer’s development plan will increase investments with a positive impact on the environment between now and 2020.
Doubling of green investments with an emphasis on green bonds
BNP Paribas Cardif already had 1.2 billion euros in green investments at the end of 2016 within its general fund. These investments finance the energy transition.
BNP Paribas Cardif will continue to actively contribute to the development of green investments, notably through green bonds, which finance projects with high environmental value. Already in 2014, the insurer contributed to the success of the first green bond issues, including the World Bank’s structured green bond issue1 and the Tera Neva climate awareness bond2.
BNP Paribas Cardif also contributes to financing of projects that support renewable energies, protecting biodiversity as well as waste recycling and reuse within the framework of a French government green bond issued in 20173. In addition, the company contributes to the World Bank’s SDGs Everyone4 sustainable bond, which provides funding for projects with environmental and social impact that contribute to achieving the United Nations International Sustainable Development Agenda.
This initiative is fully aligned with the strategy of BNP Paribas, which has taken strong positions to support the energy transition, presenting a comprehensive policy in 2015. In particular, the Group has ended financing for coal-fired power plants and announced a commitment to more than double its financing in the renewable energy sector (from €6.9 billion in 2014 to €15 billion in 2020).
Accelerating the momentum initiated in socially-responsible investing
BNP Paribas Cardif will at the same time develop its investments with significant positive social impact. The insurer finances more than 6,000 emergency shelter units via the Hémisphère fund created by AMPERE Gestion (SNI group) to accommodate people in distress.
The insurer is one of the main investors in Fonds de Logement Intermédiaire (FLI), an “intermediate housing” fund that has provided accommodation for 644 families in rent-controlled units since 2015.
BNP Paribas Cardif actively supports the social and solidarity economy as well, investing in solidarity funds such as BNP Paribas Social Business France and the NovESS fund launched by Caisse des Dépôts.
At the end of 2016, some 50 million euros had been invested in these different funds with strong positive social impact.
“Socially responsible investment is a pillar of our corporate social responsibility policy. As an insurer, we believe that our investments can positively impact the broader fight against climate change, help provide housing for people in need and encourage further development of the social and solidarity economy,” says Laurence Hontarrede, Head of Prospective and CSR, BNP Paribas Cardif.
For BNP Paribas Cardif reporting related to Article 173 of the French law on Energy Transition and Green Growth follow this link.
1 In September 2014, BNP Paribas and the World Bank launched an ethical investment solution, with capital insured through World Bank Green Bonds and exposure to the performance of the Ethical Europe Equity Index.
2 In November 2015, the European Investment Bank (EIB), BNP Paribas and Vigeo launched Tera Neva, a sustainable investment solution that allows investors to align their financial objectives with energy transition goals.
3 In January 2017, Agence France Trésor entered the green bond market with the first French sovereign green benchmark bond, with a maturity of 22 years (Green OAT 1.75% 25 June 2039).
4 In March 2017, the World Bank launched a new financial instrument to expand funding for the Sustainable Development Goals: SDGs Everyone.