Vigeo has raised Groupe BPCE’s overall rating from 55 to 57 out of 100, thus making it one of the top-rated French banking groups.
Vigeo’s financial assessment report describes Groupe BPCE’s non-financial performance as “robust”. The rating concerns six areas and embraces 20 rating criteria carrying various weightings. The most highly-weighted areas cover business practices, governance and human resources. The increase in the Group’s rating overall rating reflects the clear engagements taken and shared in the TEC 2020 strategic plan, and the provision of more comprehensive elements substantiating our engagements. All in all, the Group’s scores improved on 9 of the 20 criteria.
Since the 1990s, corporate performances have not just been assessed in terms of financial results, but also on the basis of environmental, social and governance (ESG) criteria.
At BPCE, the CSR and Sustainable Development Department works with the Financial Management Department to respond to the requirements of financial and non-financial rating agencies concerning environmental, social and governance issues. This collaboration is due to gain further significance following Vigeo Eiris’s acceptance of Moody's Investors Service’s offer to become its majority shareholder. The deal stems from recognition that ESG assessment is set to become an essential factor in investment decisions and risk analysis for all economic and financial players in Europe and worldwide.