LBP AM and Tocqueville Finance publish their Responsible Investment Report 2022

Drawn up in accordance with the French Climate and Energy Act, this report sets out our approach as a responsible investor, with a view to fulfilling our raison d’être: enhancing the value of financial, natural and human capital and supporting our customers’ sustainable transitions. You will find all our SRI policies, as well as key statistics on our activities and the ESG performance of our portfolios.    

“In 2022, we have reached some important milestones, particularly in terms of climate change and biodiversity, which reaffirm our position as a pioneer in sustainable finance. These are demanding commitments, as we expect from the companies we invest in”, say Emmanuelle Mourey, Chairman of LBP AM’s Executive Board, and Vincent Cornet, Managing Director of Tocqueville Finance.

An ambitious trajectory towards carbon neutrality 

2022 was a year of strong commitments for LBP AM and Tocqueville Finance. As part of our participation in the Net Zero Asset Management Initiative, we have established a decarbonisation path for our portfolios with an ambitious target: 80% of our total assets will be aligned with a decarbonisation target compatible with the objectives of the Paris Agreement by 2030. This ambition is based in particular on a systematic and transparent policy for managing allocations to fossil fuels, which has been extended to oil and gas since 2022.

Our commitment to a just transition has also been reflected at the heart of our offerings, in particular our Infrastructure Debt fund with an impact on the energy transition, which pursues a strategy of investing in low-carbon projects, and our new Corporate Debt fund, LBP AM Mid Cap Senior Debt, which aims to support companies in their transition to more sustainable practices, particularly in terms of managing greenhouse gas emissions.

Pioneering commitments to biodiversity

At the same time, we have strengthened our commitment to preserving biodiversity, with the deployment of a cross-functional policy at both management companies and the launch of a dedicated fund. We are committed to systematically integrating the issue of biodiversity conservation into our investment policy, and we are particularly committed to raising awareness and supporting companies in implementing a plan to manage their risks and impacts on biodiversity.

The deployment of demanding sustainable finance standards

For sustainable finance at European level, this year has also seen a strengthening of the regulatory framework. We support the need for a clear and ambitious foundation for sustainability. Our teams are working to apply these evolving requirements to our own operations, but also to support our customers in their regulatory implementation, as was the case with the SFDR regulation, the roll-out of the taxonomy, and the MiFID rules on sustainability for the distribution of our products.

Finally, we have been very active, both in France and internationally, in initiatives to develop sustainable finance standards.

Download our Responsible Investment Report