French insurance firm AG2R La Mondiale has been awarded Insurer of the Year because of its efforts in integrating environmental, social and governance (ESG) criteria into the management of all assets.

This policy has been supported by its internal management company, which has extended its scope to the main asset classes and investment strategies. This has enabled the gradual integration of ESG (now at 100%) and socially responsible investment (SRI) across all the AG2R La Mondiale's €80 billion ($90 billion) of assets.

AG2R La Mondiale's approach sees it mobilise a team of three ESG analysts and five SRI managers, relying on the expertise of service providers and proprietary tools. This has enabled AG2R La Mondiale to meet the deadline set by the groundbreaking French legislation Article 173, which requires public disclosure of corporate ESG data, and to put the 17 UN Sustainable Development Goals on its agenda.

The impact and climate components of this strategy are mainly based on a green real estate policy, an ambitious programme of sustainable bond subscriptions, and an approach to financing French SMEs for employment and regional vitality.

Targets revised upwards include the tightening in February 2020 of the threshold for triggering the coal exclusion policy (from 30% to 25%) and a coal exit trajectory by 2030. The outstanding amount of coal-fired power generation had already fallen from €242 million at the end of 2017 to €54 million at the end of 2019.

AG2R La Mondiale has also set ambitious objectives for its investment property assets by 2022, including environmental certifications covering 65% of new and renovated property and 60% of property in use. EF