As an insurer, our mission is to protect our policyholders and their assets over the long term and at every stage in their lives. We place great importance on addressing the challenges of sustainable development and social responsibility in all our activities and operations, so that we can provide our customers and partners with innovative and responsible solutions that have a positive impact. As a long-term investor, we have a major role to play in supporting the energy transition and combating global warming. Which is why we apply an Environmental, Social and Governance (ESG) investment policy that aligns fully with Societe Generale Group principles.

In addition to credit scores and financial ratings, we also pay close attention to selecting and reviewing the securities in our portfolio and excluding those that fall short of our principles. In 2019, around 87.7 billion euros in assets under management were measured in this way against stringent ESG and carbon criteria. Societe Generale Assurances is also a signatory to the Montreal Carbon Pledge, and is fully committed to the measurement and public disclosure of its asset portfolio carbon footprint.

Since 2017, investment in the coal industry has been very strictly limited. In 2019, we went further still by strengthening our exclusion criteria and committing to a full withdrawal in 2030 for EU and OECD countries, and in 2040 for the rest of the world.

In 2019, we disposed of all our direct holdings in the tobacco industry - valued at approximately 130 million euros - and publicly acknowledged our commitment by signing the Tobacco-Free Finance Pledge.

In terms of our real estate investments, we prioritize investment in high energy efficiency projects. The buildings at 83 avenue de la Grande-Armée in Paris and Elyps in Val de Fontenay are now certified compliant with the highest environmental standards.

The Nuovo building in Clichy is the first building in the Paris region to be awarded Exceptional level triple- HQE Operating certification across all three areas of this certification scheme.

By the end of 2019, our green investments totaled 1.5 billion euros; double the previous year's figure. Societe Generale Assurances plays an active role in regional and infrastructure development in France and the wider Europe. In 2019, this area of investment attracted further commitments totaling 740 million euros.

Societe Generale Assurances is a founder member of the Strategic Equity Investment Fund (Fonds Stratégique de Participations), a long-term investor and shareholder in French companies.

Societe Generale Assurances also helps to provide funding for companies and innovation by investing in market funds such as Nova, Novi, Novo and fintech funds.

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