Groupama Group

The financial institution has a publicly available policy statement committing it to respect the ILO core labour rights. It links performance criteria for remuneration at the senior executive level to specific sustainability targets with the responsibility for implementing its sustainability strategy delegated to functions, teams or committees within the institution. Furthermore, it has a publicly available policy statement committing it to respect human rights and reports that it progresses in line with its climate solutions target. The financial institution transparently identifies the key sectors, clients and investees to engage with on climate issues and nature-related impacts.

The financial institution has opportunities to enhance its disclosures regarding the determination of a living wage in its operational regions and to include anti-bribery and anti-corruption clauses in contracts. It could provide more detail on its process for identifying and prioritising material sustainability impacts, as well as incorporate social considerations into its stewardship policy. While it does not provide products or services to certain fossil fuel projects, it does not address all fossil fuels and has a time-bound strategy that does not encompass the entire fossil fuel value chain.

Targets for climate solutions could be better defined in terms of time and measurability. The institution should detail how nature-related impacts were identified and prioritised, and its strategy for nature protection should address both positive and negative impacts. Evidence of engagement with clients on nature strategies is also needed. Scope 2 emissions should be clarified as market-based or location-based, and additional categories of scope 3 emissions should be covered with rationale for exclusions. Methodology for carbon footprint calculations could be more comprehensive.

Recommendations include disclosing scope 1-3 emissions reduction in line with interim targets, client breakdown by income group, operational data for nine countries, processes to avoid divestment from low-income countries, risk assessments related to ILO rights, and examples of actions taken on salient human rights issues.

This scorecard refers to information in English which was publicly available by July 15 2024. AuM and Total assets are stated in USD for comparability and have been calculated based on reported local currency values multiplied by applicable IMF currency converter values.