RepoRt on - BNP Paribas

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A leading position in the french market recent studies place bnP Paribas investment Partners among the industry leaders in france and in europe in terms of assets under management, and one of the market leaders as regards quality. it had over eur 9.3 billion of assets under management in sri mutual funds and investment mandates at 31 december 2009. these funds are geared towards institutional and retail clients. bnp pARibAs sRi Assets undeR mAnAgement (in millions of euros) OPEN fuNDS MANDATES/DEDICATED fuNDS 10,000 9,000 8,000 7,000 6,000 5,000 4,000 3,000 2,000 1,000 end 2002 140 43 end 2003 139 1,069 end 2004 3,094 944 end 2005 4,979 1,069 end 2006 5,804 1,343 end 2007 5,898 1,659 end 2008 4,496 3,091 end 2009 (*) 3,803 (*) BNP Paribas assets under management at 31 december excluding Fortis, which had AuM of around EUR 3 billion. 5,548 A wider range of sRi products in 2009, bnP Paribas investment Partners broadened its range of products for institutional investors, focusing on specific areas: — the bnP Paribas aqua fund, created for bnP Paribas assurance, enabling individuals to invest in water-related companies; — an environmental fund aimed at individuals and institutional investors in australia; — two european equity-focused institutional asset management mandates. one of these portfolios is intended to be marketed to the general public in france; — the bnP Paribas sélection ird garantie 2015 structured fund, where returns are linked to a basket of 20 european stocks that have positive csr ratings, aimed at our private banking clients in france; — two bond asset management mandates obtained from major institutional clients; — an environmental asset management mandate from a european financial institution. A continuing commitment to sRi principles for Responsible investment as an asset management company that has been a signatory to the Principles for responsible investment since 2006, bnP Paribas asset management offers institutional and individual customers a comprehensive and innovative range of investment solutions that meet two complementary objectives, i.e. compliance with fundamental values and long-term value creation. bnP Paribas investment Partners follows the Principles for responsible investment (Pri) adopted by the united nations environment Programme finance initiative (uneP fi) and the global compact. the Pris create a framework for incorporating environmental, social and governance (esg) issues into asset management. Pris encompass six principles in addition to around thirty possible actions: — incorporating esg issues into investment analysis and decision-making processes. 67 <strong>RepoRt</strong> on CoRpoRate SoCial and enviRonmental ReSponSibility bnp paribas launches a green fund in Australia the environmental investment approach focuses on the environmental commitments made by large companies. bnp paribas investment partners in Australia and impax Asset management have announced plans to launch a local fund in which investments will focus on the environment and sustainable development. impax environmental markets trust will invest in companies where at least half of profits, revenue or capital employed related to environmental activities. this is Australia’s first and only fund dedicated to areas like renewable energy, water management and waste management. bnp paribas investment partners has developed an index for companies with small carbon footprints. in late 2008, nYse euronext launched the low carbon 100 europe ® index, which identifies european companies with small carbon footprints. subsequently, easyetf developed the first exchange-traded fund based on this index and listed on euronext paris, called easyetF low carbon 100. the low carbon 100 europe ® index measures the performance of the 100 largest european companies with the lowest level of co 2 emissions in their industry. these companies’ co 2 emissions are on average around 20% lower than those of the 300 largest-cap companies in europe. the easyetf fund developed by bnp paribas Asset management enables investors to gain exposure to the equity market while focusing on companies with small carbon footprints.
— incorporating esg issues into ownership policies and practices. — seeking appropriate disclosure on esg issues by the entities in which investments are made. — Promoting acceptance and implementation of the Principles within the investment industry. — working together to enhance our effectiveness in implementing the Principles. — reporting on activities and progress towards implementing the Principles. driving sRi initiatives in 2009, bnP Paribas investment Partners confirmed its role as a main driver of sri through its participation in several sector initiatives. bnP Paribas investment Partners is vicepresident of the institutional investor group on climate change (iigcc). the iigcc comprises 50 european institutional investors managing over eur 4,000 billion. in november 20 09, bnP Paribas investment Partners organised a climate change conference in copenhagen ahead of the international summit. more than 170 institutional clients, journalists and participants from 15 european countries attended the conference, which gave them greater insight into climate issues. talks and round-table discussions led by expert portfolio and pension-fund managers enabled those present to gain a greater understanding the potential impact of these changing investment methods. this event, the first one of its kind, was organised jointly by bnPP iP, alfred berg and fortis investments. it bodes well in terms of skills synergies between these entities and their ability to work together. bnP Paribas investment Partners also sponsors the sustainable finance and responsible investment chair in co-operation with france’s École Polytechnique and the toulouse institute of industrial economics. Recognised commitments in response to the growing range of products available, novethic has developed a mass-market accreditation label for sri funds distributed in the french market. the aim of the label is to encourage transparency about the management process and composition of sri funds, and to provide a simple reference point for individual investors. it is given only to funds that perform systematic analysis of environmental, social and governance criteria and that report on the csr aspects of their portfolios. in september 2009, three bnP Paribas investment Partners funds were awarded the novethic label: bnP Paribas etheis, bnP Paribas obli etheis and Parvest europe sustainable development. in addition, two of these funds have esg ratings reserved for funds that communicate about csr indicators in an innovative way. this rating has only been awarded to 4 out of 92 funds, including bnP Paribas etheis and Parvest europe sustainable development. the indicators developed by bnP Paribas allow investors to compare portfolios with benchmark indexes based on co 2 emissions, changes in the workforce and independence of the board of directors. the csr reporting of the accredited funds can be viewed at the bnP Paribas asset management website: www.am.bnpparibas.com. the reporting is updated quarterly. impax asset management has received various awards for the quality of its environmental investment management. it was named sri/sustainable investment manager of the year in the awards for excellence in institutional asset management, presented by Financial News in london in october 2009. bnp paribas investment partners has finansol accreditation for three investment products finansol is france’s only socially responsible savings accreditation label, and the label has been awarded to three bnp paribas investment partners products: bnp paribas obli etheis, a bnp paribas Asset management socially responsible fund; multipar solidaire prudent and multipar solidaire dynamique, two employee savings plans distributed by bnp paribas Épargne & Retraite entreprises. this accreditation means that bnp paribas ip is one of france’s most dynamic players in socially responsible savings, and acknowledges its long-standing commitment to socially responsible investment. 68 <strong>RepoRt</strong> on CoRpoRate SoCial and enviRonmental ReSponSibility bnp paribas assurance, a comprehensive sRi policy bnP Paribas assurance, as part of its csr policy, promotes socially responsible investing among individuals. after making environmental, social and governance criteria an integral part of its non-unitlinked funds (more than eur 60 billion), bnP Paribas assurance is responding to client demand expressed in a 2008 survey, which showed that more than half of all clients were prepared to invest part of their policies in sri-themed funds. according to the survey, 94% of clients wanting to invest in sri funds would select the social theme and 93% the environmental theme. as a result, bnP Paribas assurance is offering three new policy units to clients wanting to take a more pro-active approach to sri: bnP Paribas aqua, sam smart energy and bnP Paribas insertion salariés. all three are equity-focused funds and managed using an sri approach. the environmentally themed funds (bnP Paribas aqua and sam smart energy) invest in companies that carry out a significant proportion of their activity in the sector concerned, i.e. water and renewable energies. bnP Paribas insertion salariés invests up to 10% in unlisted companies and solidarity-based entities with a social purpose. in addition, these three funds are managed using an sri process that systematically takes into account environmental, social and governance criteria when selecting assets.
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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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combining csr and economic performa
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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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