Exclusion Policy

Oil & gas policy 

In this context, LBP AM and LFDE have defined a sector policy covering investments in companies in the oil & gas sector. The policy also covers operating project companies, i.e. companies involved in exploration, exploitation, treatment, transport, refining or distribution, either directly or as partners or shareholders. The sector policy aims to define the principles applicable by portfolio management companies to align their oil & gas sector allocation by 2030 with the zero carbon 2050 target, by:

• Promoting and supporting orderly and fair energy transition in the real economy, required to achieve the objectives of the Paris climate agreement,
• Contributing towards managing financial, transition, legal and physical climate risks incurred by their portfolios.

The sector policy forms an integral part of the LBP AM and LFDEclimate performance engagement framework and also defines the key sector issues in terms of managing social and biodiversity risks.