La Banque Postale Asset Management and Tocqueville Finance disclose their biodiversity policy
To mark the launch of COP-15 Biodiversity in Montreal, La Banque Postale Asset Management (LBP AM) and its subsidiary Tocqueville Finance are announcing their biodiversity policy. A few days after the launch of the thematic fund dedicated to biodiversity, LBP AM and Tocqueville Finance reinforce their commitment in favor of the protection of living organisms in a policy that contributes to the goals of the post-2020 Global Biodiversity Framework project.
Between 1975 and 2016, 52.5% of the world’s biodiversity has disappeared, and about 25% of species are threatened with extinction. To respond to these challenges and due to the strength of its leadership in SRI, LBP AM is committed through a cross-functional biodiversity policy with its subsidiary Tocqueville Finance. The policy targets 16 of the 21 issues identified in the first draft of the post-2020 Global Biodiversity Framework and is currently being endorsed under COP-15 Biodiversity.
With this policy, LBP AM and Tocqueville Finance affirm their intention to respond to the call to protect life through several levers:
– Integration policy: private investment rating system, implementation of systematic integration of biodiversity within GREaT. The portfolios’ biodiversity footprint is calculated using the Global Biodiversity Score methodology developed by CDC Biodiversity.
-Exclusion policy: obligation to exclude companies with significant impacts on biodiversity that do not implement remediation plans, especially based on the Global Biodiversity Score.
-Stakeholder engagement policy: dialogue with invested companies to encourage them to reduce their impact on biodiversity and control their dependence on natural capital. This policy is based on a series of cooperative commitments covering targeted topics such as the publication of company action plans and bilateral commitments with companies where changes in practices may cause significant challenges.
-CSR policy: integration of employee awareness and training aimed at promoting eco-gestures and reducing the biodiversity footprint of LPB AM and Tocqueville Finance.
– Impact policy: supporting regulatory initiatives aimed at strengthening the performance of companies, including financial ones, in favor of biodiversity by responding to consultations on frameworks such as TNFD (Task Force on Nature-related Financial Disclosures) or standards. EFRAG (European Financial Reporting Advisory Group) in terms of additional financial reporting and regulations on deforestation imported into the European Union.
With this in mind, LBP AM will attend COP-15 on Biodiversity in Montreal with 3 delegations (Principles of Responsible Investment, Finance for Biodiversity Fund and Finance for Tomorrow) to support the inclusion of financial institutions. goals to restore biodiversity loss.
This new biodiversity policy and LBP AM’s participation in COP-15 are in line with the commitments of the La Banque Postale group. In an appeal issued together with LBP AM and La Banque Postale, the numerous financial institutions that have signed the Biodiversity Financing Agreement since 2021, call on governments to reach a specific agreement at COP-15 to harmonize the actions of all economic actors. reverse the trajectory of biodiversity loss, contribute to combating climate change through nature-based solutions, and ensure a fair and just transition. The Group is confident that the text i) sets out definitions of terms and objectives; ii) emphasize the importance of assessing and reporting environmental impacts and dependencies; and (iii) for the effective functioning of the financial sector, it is necessary to establish common objectives for the alignment of investments.
“As an asset manager, it is possible to contribute by being aware of the assessment and control of companies’ environmental impact. This is in the interest of our customers and the common interest. We hope that COP-15 will make this possible. Actions by all players around clear and ambitious common goals We are proud to unite and strengthen and be among the pioneers in this regard,” emphasizes Emmanuelle Mourey, Chairman of the Board of LBP AM.
