CNP Assurances has said a major effort by its European subsidiaries will help it meet its target of €25bn in green investments before end-2025, and it is also committed to doubling its impact investments to €1bn within the same timeframe.
The insurer said it will exclude, as from 2023, any new direct investment in companies deriving more than 5% of their revenue from thermal coal-related activities, versus 10% previously.
CNP Assurances CEO Stéphane Dedeyan said: “Our deeper commitment to impact finance and to fossil fuel exclusion reflects the operational rollout of our corporate mission of promoting an inclusive and sustainable society.”