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CNP Assurances announces new ambitions to withdraw from the coal industry

As part of its strong commitment to the fight against climate change, a few days ahead of COP 24, CNP Assurances announces new goals to reduce its exposure to thermal coal, the energy source that emits the most greenhouse gases.

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The Group will in future refrain from investing in companies of which more than 10 % of turnover (as opposed to 15 % in the past) is linked to thermal coal. In addition, it undertakes no longer to invest in companies that are the most heavily involved in the development of new coal plants.

CNP Assurances at the same time intends to support efforts from companies that demonstrate a commitment to stop using thermal coal and redirect their investments towards other forms of energy.

CNP Assurances moreover confirms its target to reduce the carbon footprint of its share portfolio by 47 % to attain an investment level of 0.25 teqCO2/€K by the end of 2021 [1], lower the energy consumption of its property assets by 20 % by 2020, and make new investments worth € 5 billion to further environmental and energy transition by 2021.

The Group’s target of putting € 3 billion in green investments before the end of 2018 was already reached in September 2018.

Next Finance , November 2018

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Footnotes

[1] Since 2014

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