Agirc-Arrco is a French pension provider headquartered in Paris, France. It paid EUR 79 billion to 13,057,100 retires in 2019, representing 25% of pensions financed on a pay-as-you-go basis in France. Agirc was the complementary pension scheme for private sector executives dating back to 1947, while Arrco launched in 1961 as a general complementary pension scheme for private sector employees.
In terms of its approach to senior leadership accountability, there is no evidence that Agirc-Arrco assigns responsibility for sustainability to the group’s board of directors and that it links the remuneration of its executive or management teams to sustainability performance criteria. Furthermore, no evidence was found that the financial institution is committed to gender equality and women’s empowerment. It has also an opportunity to disclose the proportion of women in senior leadership roles as well as how it addresses any gender pay gaps. Additionally, the financial institution has an opportunity to describe its engagement approach on sustainability themes and impact topics with investees.
There is no evidence that Agirc-Arrco discloses a target to reach net-zero financed emissions by 2050. The financial institution also has an opportunity to disclose the key sectors and companies it has identified as priorities to engage with on climate change, specifically on the alignment with the Paris Agreement. There is no evidence that the financial institution discloses its financing activities devoted to climate solutions and that it is committed to minimising its negative impacts or financing regenerative solutions. Furthermore, no evidence was found regarding the financial institution’s approach to fossil fuels that spans across the fossil fuel value chain, such as the amount or share of finance it directs towards fuels, or its stance on financing companies with new fossil fuel projects.
There is no evidence that Agirc-Arrco has a publicly available policy statement committing it to respect human rights. The financial institution also has an opportunity to describe a comprehensive process for identifying its human rights risks and impacts across all its activities, especially its financing activities. Furthermore, it has an opportunity to disclose the proportion of its total direct operations workforce for each employee category by age group, gender or another indicator of diversity. To provide transparency on financial inclusivity, the financial institution has an opportunity to disclose the amount of investments directed towards, for example, low-income developing countries.