RepoRt on - BNP Paribas

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compact with respect to human rights, labour laws or the environment, along with producers of controversial products like arms, alcohol and tobacco, are excluded from the investment universe. corporate social responsibility (csr) analysis is carried out by a team of six analysts with broad esg expertise. the analysis process is based around close co-operation between financial analysts and csr analysts to ensure that the portfolio management process incorporates sustainable development issues before decisions are made. one of the main benefits of this method is the prevention of reputational risks resulting from holding controversial investments. theme-based strategies theme-based strategies focus mainly on products and services that offer solutions to environmental problems and that encourage the efficient use of natural resources. to be eligible for selection, a company must carry out at least 20% of its investment in key sustainable development areas such as renewable energy, water processing, waste processing and compliance with environmental regulations. this policy applies to all investments globally, and excludes companies that do not comply with international standards such as the global compact. increasingly aware investors investors are more and more concerned about the social and environmental responsibility of companies, and want to be able to assess the potential impact of such issues on the performance of their investments. bnP Paribas asset management seeks to promote the long-term value of its investments, and has therefore developed recognised expertise in this area. it offers a complete range of products that systematically take into account sustainable development and corporate governance. the encouraging results prove that sri is not only ethical, but also creates value for investors. the sRi process the sri process is the same as that for regular investments, and consists of the following two steps: 1. 2. meeting customer requirements and selecting the investment universe Research and investment understanding clients’ needs and objectives clients univeRse pRoduct selecting an investment universe Research financial and non-financial analysis portfolio management A team of dedicated specialists using specific analytical matrices 65 <strong>RepoRt</strong> on CoRpoRate SoCial and enviRonmental ReSponSibility bnp paribas fortis’ successful sustainable investment campaign in october 2009, belsif, a belgian socially responsible investing (sri) organisation, organised a “sustainable investment week”. bnp paribas fortis participated by launching a campaign to promote sRi investments. for every sustainable investment of more than eur 1,000, bnp paribas Fortis committed to invest euR 10 in sustainable projects. A survey of group customers identified four priority areas of action and four ngos to be supported: the Red cross for voluntary work, max Havelaar for fair trade, natagora‑ natuurpunt for environmental protection, and plan belgique for development. the campaign was a success, and as a result, bnp paribas Fortis donated eur 120,000 to these four ngos. during the campaign, more than 10,000 bnp paribas Fortis customers invested in a wide range of sRi products.
identifying clients’ needs and selecting the investment universe to meet clients’ specific sri needs, bnP Paribas asset management defines a risk profile and an approach based on specific sectors and expected returns. it also takes into account ethical criteria and companies’ social commitment levels. it then selects an investment universe according to clients’ needs and market opportunities, based on factors such as regions and available securities. specific features of the sRi research process: non-financial analysis. Portfolio management is based on fundamental analysis that factors in quantitative and qualitative aspects of financial and non-financial issues for sri investments, bnP Paribas asset management carries out in-depth research to identify potential sources of value creation or destruction by considering corporate governance and nonfinancial issues. this non-financial analysis supplements standard financial analysis by highlighting companies’ sustainable development approach in terms of the commitments they make, the resources they allocate, and the results they obtain. like the research done by financial analysts, non-financial research is conducted by a team of specialists. non-financial research is designed with a view to value creation, and relies on assessment criteria selected according to the specific challenges of each industry. Particular attention is paid to compliance with fundamental labour rights by a company and its subcontractors in the textiles and electronics sectors. similarly, greenhouse gas emissions and climate-change risks are priority areas of analysis in the energy, power generation, transport, insurance and building materials sectors. a portfolio is then assembled using risk modelling and rankings by sector. these analyses are regularly reviewed and systematically integrated into portfolio management processes. this nonfinancial analysis is supplemented by direct contact with companies, ratings from ratings agencies, and brokers’ reports. in addition to this system, a monitoring process is used to detect any possible critical situations that could lead to valuations being revised. exercising voting rights at bnP Paribas asset management, the exercise of voting rights is an integral part of the investment management process and a component of the ongoing dialogue with companies in which investments are made on clients’ behalf. the voting policy incorporates the governance principles set out in key international codes and standards. all mutual funds in france and elsewhere exercise their voting rights at agms held by more than 300 companies invested in by around 200 mutual funds. the voting process is based on a review of draft resolutions and votes are cast through electronic voting platforms that allow secure processing. documents concerning the exercise of voting rights at agms are available on bnP Paribas asset management’s website: www.am.bnpparibas.com. 66 <strong>RepoRt</strong> on CoRpoRate SoCial and enviRonmental ReSponSibility Research and asset management teams overall, there are around 35 analysts and asset managers providing their socially responsible investment expertise across all bnP Paribas investment Partners entities. best-in-class strategies are applied by teams of analysts and traditional asset managers. this staff is experts in specific product areas, and they offer nonfinancial analysis focusing on environmental, social and governance (esg) criteria. these teams cover european equities and bonds as well as the money market. environmental strategies are managed by impax asset management, bnP Paribas’ partner specialising in the environmental sector. over the years, impax has developed a broad array of equity investment portfolios. the asset allocation team implements balanced solutions for equity and fixed-income investments. the team in charge of structured products develops funds based on sri performance indexes and equity portfolios based on esg criteria. the easyetf team has developed a comprehensive range of trackers, which seek to reproduce the performance of sri indexes based on best-in-class and environmental strategies. fundQuest has built a set of asset investment solutions based on environmental and best-in-class funds.
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RepoRt on enviRonm
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meSSage fRom the ChaiRman and the C
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History 1966 creation of bnp the me
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RetAil banking over 7,000 branches
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a global leader and major player in
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Key figures Revenues (in millions o
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the gRoup’S appRoaCh bnP Paribas/
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corporate governance and nomination
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internal control the information be
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players involved in internal contro
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permanent operational control the e
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limitation of the powers of the chi
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procedure for control of accounting
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making committee (“Pfc” - Produ
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comPliance 130 RepoRt</stro
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— Procedures relating to the acce
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nRe appendiCeS nre appendices - soc
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NRE indicator - 2009 year Scope for
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nre appendices - environmental chap
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RevieW RepoRt fRom
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table of ConCoRdanCe Report on envi
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corporate governance series of prin
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opa (Offre Publique d’Achat) ope
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tpi (Titre au Porteur Identifiable)
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