Groupe BPCE

The institution links senior executive remuneration to specific sustainability targets and assigns responsibility for implementing its sustainability strategy to various functions, teams, or committees. It discloses its membership in trade associations.

The financial institution discloses the monetary amount or share of products, services, and capital related to high-emitting and fossil fuel sectors, as well as the aggregate amount or share devoted to nature-positive solutions. Groupe BCPE engages with clients and investees to support and influence their strategies for nature protection and restoration.

It discloses the monetary amount or share of products, services, and capital provided to usually excluded groups and small- and medium-sized enterprises. Additionally, it reports its operations by country, including metrics such as the number of employees or revenue, and has a process for identifying social risks linked to its offerings in relation to the net zero transition.

While material sustainability impacts are identified across its value chain, the financial institution could further detail its process and how objective criteria and/or supportable evidence were considered for the identification and prioritization of impacts. Its subsidiaries Natixis and Ecofi disclose an ESG-based stewardship process, but group-level stewardship remains unclear.

Furthermore, the institution excludes financing for new oil field productions and natural gas projects, but no policy exists against financing fossil fuel projects. A time-bound target to reduce financed carbon emissions is noted, but a phase-out strategy is unclear. It discloses a strategic plan for green bond issuance but specific targets are not provided.

Recommendations include disclosing monitoring of scope 3 emissions, detailing methodology for footprint calculations, establishing a transition plan, and providing a breakdown of clients by income group. The risk assessment process should include ILO rights risks, and while a Duty of Care plan exists, a detailed risk mitigation process is absent. An example of actions taken on salient human rights issues is also recommended. The institution has a publicly available statement regarding forced labour, child labour, discrimination, and freedom of association, committing to respect the ILO’s fundamental rights at work, but lacks a formal policy approved by its highest governance body.

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.