Having committed to contributing to carbon neutrality by 2050 as a member of the Net-Zero Asset Owner Alliance (NZAOA), French ICMIF member MAIF has been implementing a proactive climate strategy for the past five years. After exceeding its initial targets for 2025, the mutual insurer says it is continuing its commitment and accelerating by setting new targets for 2030 in order to align its portfolios with a global warming trajectory as close as possible to +1.5°C.
Objective 1: reduce the carbon footprint of its investments by 50%
MAIF has committed to reducing the carbon footprint of its investments in listed equities, corporate bonds and real estate assets by 25% by 2025.
Between the end of 2020 and the end of 2024, MAIF managed to reduce the carbon footprint of its investments by 38%. This reduction concerns all greenhouse gas (GHG) emissions from companies’ activities (scope 1), their energy consumption (scope 2) and their suppliers (scope 3 upstream). To continue and accelerate its commitment, MAIF has now set itself the goal of reducing its carbon footprint by 50% by 2030. This objective applies to the MAIF Group’s investments in listed shares and corporate bonds, under direct management and delegated management.
In addition to this objective, the MAIF Group is taking action to align its real estate portfolio (dedicated funds) with the CRREM 1.5°C reference scenario by 2030.
MAIF will also continue with its fossil fuel exit strategy which involves a commitment to completely phasing out coal and unconventional fossil fuels and to stopping the financing of new fossil fuel projects by 2030, as well as to exiting oil by 2040. This commitment made by the mutual insurance company applies to both direct and delegated management.
Objective 2: To achieve 20% investment in the energy and ecological transition
MAIF says it has already fulfilled its objective of increasing the financing of the energy and ecological transition (at least 15% of the group’s investments) with a 16.8% green share* as of end 2024. Capitalising on these results, the MAIF group has set itself a target of 20% green share by 2030. It intends to continue its investments in green bonds, deploy its commitments in green infrastructure and in the financing of companies working in favour of the transition.
Objective 3: Mobilise stakeholders around the global goal of carbon neutrality
MAIF is continuing its commitment to the 20 companies among the most GHG emitters in its directly managed bond portfolio. This approach also applies to the 20 largest companies to which it delegates the management of part of its assets.
This mobilisation work is part of MAIF’s action within the Climate Action 100+ initiative as well as through direct engagement with issuers and management companies. In particular, it aims to play a leverage role in encouraging the development of decarbonisation initiatives beyond its own investments.
Carole Zacchéo, Director of Investments and Investments of the MAIF Group said: “Faced with the global setback of climate commitments and convinced of the need to create a resilient society to overcome the challenges, MAIF is fully playing its role as a responsible investor within the NZAOA. Exceeding our 2025 targets reinforces our climate strategy, investments and the mobilization of our stakeholders to be a player in the fight against climate change. The targets we set for 2030 will be our guides to intensify our commitment and improve our impact on the planet.”
*The MAIF green share includes investments that contribute to the energy and ecological transition according to the criteria of the Greenfin label, as long as they do not cause harm to any environmental or social objective; and that the entities receiving the investments apply good governance practices.
