Value of CNP Assurances’ green investment portfolio rises by €700m to €25.9bn

Written by Adam Cadle

02/08/2023

The value of CNP Assurances’ green investment portfolio rose by €700m to €25.9bn at 30 June 2023, compared with €25.2bn at end-June 2022.

The insurer aims to finance the energy and environmental transition by building a €30bn green investment portfolio by the end of 2025.

In H1 2023, CNP Assurances said its investment portfolio’s carbon footprint represented 52 kgCO2e/€k invested, compared with 55 kgCO2e/€k invested at end-2022, a reduction due in particular to the sale of €70m worth of shares in fossil fuel companies. The insurer aims to limit its greenhouse gas emissions by reducing the carbon footprint of its investment portfolio (France) by 25% between 2019 and 2024 and the carbon footprint of its internal operations (France) by 50% between 2019 and 2030.

CNP Assurances also aims to measure the biodiversity of 100% of its forestry assets by the end of 2025, in order to maintain or improve these assets’ biodiversity. As of end-2022, 42% of the insurer’s forestry assets (by surface area) were subject to a biodiversity measurement using a recognised method (Potential Biodiversity Inventories).

In H1 2023, CNP Assurances’ attributable net profit for H1 2023 was €892m (up €456m versus H1 2022). The consolidated SCR coverage ratio was 259% (up 29pts vs end-2022).

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