In 2024, Coface strengthened its commitment to the environment by joining the Net-Zero Asset Owner Alliance (NZAOA), a group of international institutional investors committed to moving their investment portfolios towards carbon neutrality by 2050.
In accordance with the NZAOA target-setting protocol, Coface undertakes to publish interim results for its various commitments on an annual basis.
Target of engagement with the main carbon contributors in the investment portfolio
An engagement process has been launched with the 20 main contributors to carbon emissions in Coface's investment portfolio, with the aim of bringing them to NetZero by 2050.
Emissions reduction targets for the rated part of the portfolio
Coface has committed to reduce the carbon footprint of its listed equities and corporate bond portfolio by 30% before 2025, and by at least 40% before 2030, compared to 20201. This objective has already been achieved, with a 48% reduction by the end of 2024.
Climate Solutions Investments Targets
Coface plans to increase the weight of investments in climate solutions responding to the common framework of the Green Bonds Principles.
Coface also pursues its efforts to also reduce the other categories of emissions in its carbon footprint, namely those related to the use of its credit insurance products and the emissions related to its own operations2.
“Joining NZAOA in January 2024 marked a further step in our CSR strategy linked to the investment portfolio. Since joining, we have pursued our commitments with determination, as evidenced by our interim targets. We are convinced that we are on the right track to achieve our objectives for 2025 and 2030” comments Carole Lytton, General Secretary of Coface.
1 The reductions relate to Scope 1 and 2 emissions in tCO2e/€M invested in the portfolio.
2 Reduction target by 2025: -11% for operational emissions compared to 2019
