Our people are fully aware of the responsibilities that are the counterpart of the trust that clients place in those who manage their assets, be it in asset management, insurance or private banking. This is borne out by the EUR 614 billion that we have under management in these business lines, which keep demonstrating their commitment by applying socially responsible investment standards, developing innovative personal services or by offering products that meet ISR standards.
Asset management, insurance and private banking
Crédit Agricole Asset Management, a responsible investor
In 2006 Crédit Agricole Asset Management Group was one of the first signatories of the UN’s Principles for Responsible Investment. In 2007 it continued implementing these guidelines by focusing on five themes :
- Publishing extra-financial analyses based on ESG1 criteria within the Crédit Agricole Asset Management group and strengthening the interface with equity research.
- Continuing its tradition of dialogue with companies ahead of voting in shareholder meetings and within the framework of collective initiatives (CDP2, EITI3, IIGCC4, PSG5), to encourage them to deploy good practices.
- Participating in the work of market institutions: ORSE6, Forum for responsible investment, EUROSIF, SFAF7, IFA8, etc.
- Supporting research, in particular via the Scientific Committee launched in April 2007 to explore ESG issues and their impact on the investment services industry.
- Implementing the transparency expected from issuers.
Crédit Agricole Assurances is making personal services more accessible
As it views personal services as a necessity and not a luxury, Pacifica has designed a personal services offering that it has been marketing since early 2007 via the Crédit Agricole and LCL branch offices. 10% of the Group's clients are expected to benefit from these services within the next five years. The offerings are packaged and targeted by social category, e.g. dependent persons, families with children, young workers, etc.
The Private Bank ensures compliance and boosts the number of SRI funds
The Private banking department has been implementing a major programme dedicated to Compliance for many years. This policy is in particular based on the Group’s compliance strengthening programme, FIDES, and its procedures. The Bank has set up training and sophisticated tools to prevent money laundering and to identify suspicious transactions.
In 2007, as part of our drive to align products with customer requirements, the Private Banking units in France and abroad developed and integrated into the range of products offered to clients a number of funds with underlying assets meeting ISR standards, as well as funds with environmental themes.
Focus
Crédit Agricole Asset Management (CAAM) – The first asset manager to be rated on its ESG responsibility
In a bid to enhance consistency and transparency, CAAM was the first asset manager to request a rating of its ESG responsibility by the extra-financial rating agency VIGEO. According to VIGEO, “the results show that CAAM has made a significant commitment, that it takes into account the whole scope of social corporate responsibility and that it has adopted a consistent progress strategy.”
Additional proof of commitment must be demonstrated in the fields of environment and human rights. On the basis of this diagnosis, CAAM has decided to implement an action plan aimed at consolidating its core strengths and improving on the other points.
- Environmental, social and governance criteria.
- Carbon Disclosure Project
- Extractive Industries Transparency Initiative
- Institutional Investors Group on Climate Change
- Pharmaceutical Shareowner Group
- Observatoire pour la Responsabilité Sociale des entreprises (Observatory of social corporate responsibility)
- Société Française des Analystes Financiers (French Society of Research Analysts)
- Institut Français des Administrateurs (French Institute of Board Directors)
