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CAA: 8th in the world ranking of insurance groups according to their climate risk management
Specialists in rating financial players on the climate, NGO Asset Owners Disclosure Project (AODP) analysed, over the year 2017, the climate strategies, climate risk management and quantified greenhouse gas emission targets of almost 80 insurers.
A European bright spot
In particular, the report highlights the strong presence and progress of European insurers in the ranking and especially in the Top 10, as well as the poor scores of American companies, only 3 of which have a genuine portfolio decarbonisation plan. French insurers are well placed with 3 companies in the top 8.
Overall, the author of the report considers that the insurers' actions in favour of the climate are inadequate, with only 34% of firms having introduced policies and strategies that aim to come into line with the targets set by the Paris agreement. Near the top of the class, CAA continues to progress in terms of its policies as an insurer, investor and employer, most notably with the objectives set out in the Insurance 2020 plan.
CAA: a stronger ESG-Climate policy
Taking 8th position for the second year running, CAA has confirmed its position as an institutional investor concerned with the environmental quality of its portfolio.
Having already signed up to the United Nations Principles for Responsible Investment (PRI), CAA has been committed to an ESG-Climate policy for several years now, having made it one of the components of the group's CSR policy, which takes Environmental, Social and Governance factors into account in investment decisions.
Some data on 2017:
- Carbon footprint: 202 tonnes of CO2 equivalent per million euros invested in the total portfolio
- Renewable energies: €0.6bn invested in renewables (6% of installed capacity in France, i.e. 1300 MW). Note the amount of assets under management invested in renewable energy infrastructures, which rose from €243m in 2016 to €351m in 2017.
- By the end of 2017, the stock of office space with an environmental certification amounted to 40% of the total square footage of office space investments.
- €569m invested in technologies participating in the energy transition (wind turbines, solar panels, etc.)
Apart from the investment issues highlighted in the AODP survey, the CAA is also committed to supporting climate risks in its insurance offer. With its close historical ties to the farming world, CAA is particularly concerned to support its policyholders who are often exposed to the vagaries of the climate.
Watch the videos explaining what Crédit Agricole is doing in the climate insurance field (in french)
- Read the article "Focus on the new Grassland Insurance cover solution"