Groupama Group commits to a full exit from thermal coal in its investment portfolios

9 December 2020

#CSR #finance

As a mutual insurance company and responsible investor, Groupama Group is making the fight against climate change a top priority.

In keeping with the objectives of the Paris Agreement, a number of strong initiatives were undertaken in 2018:

• no new investment in and a progressive exit from companies whose turnover or energy production mix is based more than 30% on coal;
• no new investment in companies for which oil sands represent more than 15% of total reserves;
• 1 billion euros in new investments to finance the energy transition between 2019 and 2021. This commitment is well on the way to being met, with 80% realised so far.

In 2020, the Group strengthened these initiatives

No new investment in and a progressive exit from any company:

• whose turnover or energy production mix is based more than 20% on coal;
• whose annual production of coal exceeds 20 million tons;
• whose installed capacity in coal-fired power plants exceeds 10GW;
• that is developing new coal capacities.

These exclusion thresholds will be reduced steadily to reach zero exposure in thermal coal in its investment portfolios:
• by 2030 at the latest for corporate issuers in European Union and OECD countries;
• by 2040 for the rest of the world.

 

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