ERAFP signs up to the Extractive Industries Transparency Initiative and the Institutional Investors Group on Climate Change
- 10 January 2013
Paris, January 10th 2013 - To increase its effectiveness in applying the Principles for Responsible Investment to which it is a signatory, the board of directors of the French Public Service Additional Pension Scheme (ERAFP) has decided to sign up to two international initiatives.
As a signatory to the United Nations’ Principles for Responsible Investment, ERAFP is committed to implementing each of those principles. ERAFP is pleased to announce today that its board of directors, in the context of implementing the 5th PRI principle, has decided to sign up to two international initiatives:
- the Extractive Industries Transparency Initiative;
- the Institutional Investors Group on Climate Change.
The Extractive Industries Transparency Initiative (EITI) was set up in 2002 and aims to develop an effective system to provide information on payments made by companies in the mining, oil and gas sectors to the governments of countries rich in natural resources. It is supported by the governments of both resource-rich and extractive nations, companies in the private and public sectors and other stakeholders. The French government has supported the EITI since 2005. ERAFP’s board of directors has authorised the institution to sign the investors’ declaration on transparency in the extractive sector. By doing so, ERAFP will join the 80 institutions managing some USD16 trillion in investment funds throughout the world that support the EITI.
The Institutional Investors Group on Climate Change (IIGCC) brings together institutional investors to face the challenge of climate change. Through this forum for collaboration they seek to promote a low-carbon economy, notably by sharing their experience of investment practices and by supporting international public policies in this respect.
ERAFP believes that working to promote a low-carbon economy is consistent with its interests as a long-term investor and with those of its beneficiaries. This aim is consistent with the international commitments made by the French State.
By joining the IIGCC, ERAFP will be working with 75 mainly European investors with more than €7.5 trillion in assets under management.