November 19, 2017

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Caisse des Dépôts Supports Worldwide Launch of Principles for Responsible Investment (PRI)

Submitted by: Caisse des Dépôts

Categories: Business Ethics

Posted: Apr 27, 2006 – 12:00 AM EST

 

Paris - The Principles for Responsible Investment, developed under the auspices of the UN's Environment Programme and the Global Compact, are being formally introduced today in New York, by the UN Secretary General Kofi Annan, and in Paris on May 2, 2006. The Caisse des Dépôts played a key role in drafting this first international framework of social and environmental commitments for institutional investors. In addition, it is one of the first organizations to sign the principles and already acts in accordance with the underlying commitments.

A key role for the Caisse des Dépôts, alongside the UN and major global investors
Very active from the outset of the process that led to the development of the Principles for Responsible Investment (PRI), the Caisse des Dépôts is also the primary financial sponsor of this United Nations initiative. A member of the group of experts and the group of investors (pension funds, major insurance groups and public institutional investors) that worked jointly to draft the PRI, the Caisse des Dépôts also has a seat on the steering committee.

For Francis Mayer, CEO of the Caisse des Dépôts "In light of our reputation as an experienced investor, as well as our long-term vision and focus on the public interest, I naturally wanted the Caisse des Dépôts to play a role in drafting these benchmark principles set forth by the United Nations."

The Caisse des Dépôts among the first signatories.
The Caisse des Dépôts is therefore among the first parties to sign the Principles, which attest to its own engagement, at a ceremony in New York on April 27, 2006 attended by Kofi Annan. Many international institutional investors will be on hand for the European launch of the PRI in Paris, on May 2, 2006.

The Caisse des Dépôts - a responsible investor, acting in accordance with the Principles
France's biggest long-term investor, and one of Europe's major ones, the Caisse des Dépôts would like to see its own practices and policies incorporated within a broader framework of standards that are recognized and shared internationally.

According to Francis Mayer, "our asset management policies and practice already focus particular attention on environmental, social and governance issues. We opted to take these factors into account across the board in our portfolio management, rather than limiting ourselves to a few funds invested in accordance with SRI principles." These considerations are applied across asset classes, and the Caisse des Dépôts was also one of the first players in Europe to innovate in the area of carbon financing and seed capital for eco-industries.

Today, governance issues play a key role in the process, with the development of guidelines for directors and for proxy voting that promote the reasonable exercise of shareholder rights in all shareholder meetings held in France. They are gradually being extended to investments throughout Europe.

Key figures:

  • 44 institutional investors and asset management firms have signed the Principles for Responsible Investment.

  • These institutional investors together manage assets valued at 2,000 bn (2 trillion) dollars.

    To access the UNEP FI press release, click here.

    To access the PRI, click here.

    To access the CDC's commitments and illustrations of them, click here.

  • For more information, please contact:

    Phone: mob : + 33 (0)6 64 4

    For more from this organization:

    Caisse des Dépôts

     

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