Caisse des Depots

The responsibility for sustainability issues within Caisse des Depots lies with the supervisory board. In terms of female representation in leadership positions, the pension fund has a gender-balanced supervisory board where 8 out of 16 members are women. Moreover, it discloses the ratio of basic salary and remuneration of women to men in its operations for each employee category.

As a member of Glasgow Financial Alliance for Net Zero (GFANZ), Caisse des Depots has set a target of net-zero financed emissions by 2050. The pension fund is also a member of Climate Action 100+. Regarding climate solutions, Caisse des Depots discloses that it aims to finance USD 60 billion in climate solutions between 2020 and 2024 as well as progress against these targets. Furthermore, it discloses the amount share of finance directed towards all fossil fuels through all its financing activities. Regarding nature and biodiversity, Caisse des Depots discloses the monetary amount of its financing in nature- and biodiversity-related solutions. Furthermore, it provides evidence that it collectively engages with companies to which it provides financial services on the topic of their nature- and biodiversity-related impacts.

In a public policy statement, Caisse des Depots states that it requires third-party lobbyists to comply with its lobbying and political engagement policies. It also has a policy prohibiting bribery and corruption. In terms of excluded groups, the pension fund discloses the proportion of its total direct operations workforce for each employee category by race or ethnicity. It also discloses the amount of finance it directs towards small- and medium-sized enterprises.

In terms of its approach to senior leadership accountability, Caisse des Depots could link the remuneration of its executive or management teams to sustainability performance criteria. Regarding gender equality, it has an opportunity to disclose the proportion of women in senior leadership roles as well as how it addresses any gender pay gaps. The pension fund also has an opportunity to describe its engagement approach on sustainability themes and impact topics with investees across its financing activities.

There is no evidence that Caisse des Depots discloses key sectors or companies identified as priorities to engage with on climate issues, specifically alignment with the Paris Agreement. Regarding financed emissions targets, while the pension fund discloses interim emissions reduction targets, these are only intensity targets rather than absolute targets. Caisse des Depots could align all of its green products with internationally recognised frameworks. Furthermore, there is no evidence that the pension fund discloses a strategy to phase out the provision of financial services to existing projects and companies across the fossil fuel value chain.

There is no evidence that Caisse des Depots has a publicly available policy statement committing it to respect human rights laid out in the UN Guiding Principles (UNGPs) and the ILO declaration on fundamental rights at work. The pension fund has an opportunity to describe a comprehensive process for identifying its human rights risks and impacts across all its activities, especially its financing activities. It also has an opportunity to disclose the amount of finance directed towards low-income developing countries.