At Covéa Finance, our investments are based on our sectoral and normative exclusion policy
Covéa Finance’s exclusion policy, in line with the AFG (Association Française de la Gestion Financière – the French asset management association) recommendations on banning the financing of Cluster Munitions (CM) and Anti-personnel Mines (APM), excludes all direct investment in equities or bonds of companies involved in controversial weaponry:
- cluster munitions and anti-personnel mines as defined by the Ottawa Convention (1997) and the Oslo Convention (2008) and signed by France;
- bacteriological and/or chemical weapons.
In addition to the standard exclusions, we have also undertaken to exclude tobacco companies and companies that generate more than 5% of their direct sales in the gambling and betting sector.
We also exclude from our investments:
- Energy companies with over 30% of their electricity production generated from coal (i.e. thermal coal), with the exception of those that have made a clear commitment to reduce this proportion below the 30% threshold by 2025.
- Companies deriving over 30% of their turnover from coal.
In general, we prefer shareholder dialogue with companies to exclusion as a means of promoting more responsible practices.Exclusion policy (pdf - 735.56 KB)