FRANCE - The €34.5bn French national pension reserve fund FRR says it wants to extend its responsible investment strategy to all of its investment portfolios, following a review of its asset classes.
The fund also said has set up a responsible investment committee, appointing Jean-Claude Javillier, a professor of work and industrial relations in Paris and former chair of the Nobel Peace Prize professorship for the International Labour Organisation (ILO), and Daniel Lebègue, the former director general of French state-owned CDC bank, as external advisors.
The committee has been tasked with ensuring the guidelines underpinning the fund's new SRI strategy are implemented "insofar as preventing and managing the extra-financial risks of the FRR's portfolio," a statement on the fund's website read.
Announcing a new five year responsible investment strategy, FRR said it will subjects all its asset classes to a "preliminary examination" on the basis of social, environmental and corporate governance criteria.
"This systematic review will help to determine if all or some of these criterai can be incorporated into the financial management of investment portfolios, which the FRR has begun to do for European equities," said the fund.
The fund said it has been a signatory of the UN's Principles of Responsible Investment (PRI) since their launch in 2006.
The FRR intends to give the issue of global warming particular attention in its review of its strategic asset allocation, expected to take place between now and the beginning of next year.
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