Our CSR commitments

Coface has established ambitious objectives for corporate responsibility, which have become central to its strategy.

For 75 years, Coface has been committed to facilitating B2B trade and aiding businesses in their expansion efforts. Our strategy involves mitigating risks and guiding businesses in making sound credit decisions. Within this pursuit, a sense of responsibility is ingrained, serving as a foundation for our governance, actions, and communication practices. At Coface, we embrace the notion that trade plays a constructive role in the global landscape and actively contribute to its progress.

The Coface Group has demonstrated a longstanding dedication to corporate, environmental, and social concerns. Our involvement with the United Nations Global Compact dates back to 2003. Within our scope of influence, we wholeheartedly embrace the Compact's 10 Guiding Principles concerning human rights, international labor standards, and anti-corruption initiatives.

 

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Coface's CSR strategy: firmly embedded in our development roadmap

“Our CSR strategy is organised around three key priorities. Coface is:

  • A responsible insurer: Our goal is to use our core business to create a more sustainable world.
  • A responsible employer: Our objective is to help our employees in their professional growth and to generate a more significant societal influence.
  • A responsible company: Our primary focus is on actively reducing our ecological footprint.

Each of these three priorities is based on the same principle of ‘Driving the culture’, and together they constitute a fourth key area in their own right, where ethics, compliance and internal CSR governance are of central importance. Coface strives to organise its governance within the board of directors by assigning CSR to one of the advisory committees in the company itself as part of a CSR committee made up of members of the executive committee and CSR champions in all the regions. Coface keeps in regular touch with all our stakeholders via internal communications and special events. The commitment and awareness of every actor are vital to the success of our strategy." Carole Lytton, Group General Secretary

Coface has integrated the major emphases of its CSR strategy with the United Nations Sustainable Development Goals (SDGs). We have given priority to 11 out of the 17 SDGs, carefully selected for their relevance to Coface's business operations, employee management, and community engagement.

Driving the culture

We ensure transparency, compliance, and employee support by maintaining a clear ESG governance framework, effective communication, and active engagement within Coface.

A responsible insurer: CSR goals integrated into business activities

  • The environmental impact of the Group is integrated into Coface's trade policy: Coface considers CSR when evaluating country risks and the risk of default by debtors. Moreover, Coface is piloting a methodology to measure the environmental impact of debtors comprising its secured receivables portfolio. This tool will enable Coface to steer its operations towards more environmentally sustainable endeavors.
  • Coface has established a commercial exclusion policy that mirrors  its determination to avoid non-ethical and/or non-responsible business activities. The company is dedicated to discontinuing or minimizing credit insurance, individual risk, and bond business within the coal industry.
  • Coface has chosen to expand its assistance in financing and implementing long-term ESG projects through its individual risk insurance solutions. The company aims to duplicate the volume of support for worldwide ESG projects, reaching at least €400 million in outstanding liabilities by the close of 2025 (as compared to mid-2022)
  • Coface has pledged to lower the carbon footprint of its investment portfolio by 30% (for listed equities and corporate bonds, compared to 2020) by the year 2025 (Scope 1 and 2). As part of this initiative, Coface has joined the United Nations Principles for Responsible Investment (UN PRI) in 2023 and is gearing up to become part of the UN-convened Net Zero Asset Owner Alliance (NZAOA). These steps are integral to a methodical strategy aimed at transforming the Group's investment portfolio and attaining carbon neutrality by 2050.

Coface code of conduct

At Coface, whatever our activities or positions, we abide by the highest standards of ethics and professional conduct. Our Code of Conduct guides us in the way we conduct our business around the world.

Download our Code of conduct

Anti-bribery code

Coface is committed to operating in an ethical and responsible manner in all its activities throughout the world. We have therefore adopted a zero tolerance policy on corruption in all its forms.

 Our Anti-Corruption Code lists the challenges and principles to be respected in the prevention of corruption. It provides help for detecting risk situations and serves as a guide to how to deal with corruption in our activities.

Download our anti-bribery code

A responsible employer

  • Coface's HR strategy places a strong emphasis on diversity and inclusion. Our teams are made up of individuals from 80 diverse nationalities spanning across 58 countries. The Group has implemented various initiatives aimed at nurturing a diverse and inclusive environment, encompassing aspects such as equal salary, prevention of gender-based and other forms of discrimination, and creating a safe space for employees of all backgrounds, including those in the LGBT+ community.
  • Coface has also introduced measures to attract and retain talent and is generally committed to employee satisfaction. The company regularly measures employee engagement and well-being in order to make further progress in these two areas.
  • The Group is continuously expanding its employee development programs through business academies, mentoring and reverse mentoring programs, and international or internal mobility.

A responsible company: Pursuing carbon neutrality by 2050 as an objective

  • Beyond quantifying its carbon footprint, Coface has established a reduction framework to navigate the transition towards a low-carbon economy. This reduction strategy, developed in collaboration with various sectors of Coface, centers on three primary domains: Investments, Compensation, and Operations. The objective is to reach carbon neutrality by 2050.
  • Regarding Coface's operations, this plan will encompass all sectors of the Group: notably, Coface will adopt environmentally conscious procurement and digital practices. The strategy will also encompass aspects like commuting, business travel, the vehicle fleet, and even office spaces.
  • The company has already initiated its first steps towards curbing its CO2 emissions.