He gave a preview of La Banque Postale's company purpose and its determination to become a mission-led company. Finally, drawing on the strength of its position as the world's leading bank in CSR, La Banque Postale announced its ambition to unite all its stakeholders, customers, employees and fellow citizens around the challenges of a “just transition”.
The “Citizens’ Economy Dialogues” gathered around twenty participants committed to the transformation of the economy, including high-ranking international personalities and decision-makers , such as Vera Songwe, Executive Secretary of the United Nations Economic Commission for Africa, Pascal Lamy, Chairman of the Peace Forum and coordinator of the Jacques Delors policy network, alongside with representatives of civil society, such as writer and film director Cyril Dion, representatives of NGOs and associations such as Lucie Pinson, Founder and Director of the NGO Reclaim Finance, Laurence Drake, General Representative of the Foundation for Action to Fight Exclusion, and Véronique Andrieux, CEO of WWF France.
La Banque Postale is setting new milestones in line with its ambitions to promote a “just transition”
As the heir of La Poste’s financial services, La Banque Postale stands out for its ambition, values and community initiatives since its creation 15 years ago. In line with the “Banque Postale 2030” strategic plan presented last March, the company is determined to speed up its community agenda. La Banque Postale took advantage of its “Citizens’ Economy Dialogues” to unveil the new building blocks of its banking model and the support measures for its customers.
Transforming our banking business model through:
- the Global Impact Weighting Factor project, which is aimed at creating a new performance metric focusing on social, environmental and regional impacts. This project is crucial for supporting the just transition that lies at the heart of La Banque Postale’s strategy. Work underway focuses on building a multi-purpose tool that measures the environmental, social and regional ramifications of each of La Banque Postale’s loan and investment decisions (CO2 footprint, support for vulnerable customers, etc.) in addition to measuring financial risks and returns. The Global Impact Weighting Factor is a proprietary metric. It will be developed through a process of co-construction with all stakeholders who want to join this project (customers, associations, universities, NGOs, and so on). In particular, La Banque Postale’s strategic partnership with WWF aims to enrich these reflections.
- eco-designing our products with a set of specific criteria to reflect, in a transparent way, their positive impacts. WWF will ensure that the selected metrics are consistent, in particular with regard to the inclusion of ESG criteria;
- launching a consultation among the French public so that they can pick, from a list of proposals, the products and services they expect for tomorrow;
- supporting biodiversity and raising both clients and employees’ awareness on this issue, notably through Cyril Dion’s new film, Animal.
Supporting customers in a just transition with a new set of products and services:
- launching consumer impact loans, which will boost our customers’ social commitment by encouraging them to adopt a more responsible consumption while enabling them to offset their own footprint;
- incorporating the Carbo solution into online banking, which will enable more than 8 million customers who use La Banque Postale’s digital platform to measure their own carbon footprint in their day-to-day consumption as well as to explore ways to reduce it;
- launching a range of new savings products that respond to the major societal challenges faced, with the development of La Banque Postale Asset Management’s range of sharing funds and the launch of a real asset infrastructure impact fund aligned with the 2°C trajectory
La Banque Postale, a recognised international leadership, ranked 1st worldwide in the field of CSR
With a score of 75/100 awarded in June 2021 by the non-financial rating agency Vigeo Eiris, La Banque Postale maintain its leading position as the world’s No. 1 bank in terms of CSR. Across all economic sectors, it is ranked 2nd in the world out of more than 5,000 companies rated. La Banque Postale is also the world leading bank in the “Public & Regional Banks” section according to ISS-ESG and 4th in the Sustainalytics ranking which include all banks.
La Banque Postale wishes to pursue its commitment by introducing more stringent standards, new methods and strategic orientations to improve finance’s ability to have a positive impact on the environment.
La Banque Postale has embraced a company purpose and announced its determination to become a mission-led company
Strengthened by its co-building efforts alongside its employees, customers, partners, suppliers, elected officials and local authorities, La Banque Postale’s company purpose has been unveiled during the Citizens’ Economy Dialogues.
Source: Le Groupe La Poste