EDITO RIAL Nicolas Namias Chief Executive Officer, Natixis In the third-party asset management business, we are one of the first groups to apply such a far-reaching assessment of carbon intensity to our investment portfolios. Meanwhile, in our insurance business, we committed very early on to aligning our portfolio and are accelerating these efforts at present to reach a trajectory of 1.5°C by 2030. These changes are the result of taking full account of the climate impacts in all of our business management processes: beyond ESG analysis of our portfolios, climate impacts are fully integrated into our credit granting processes as well as our liquidity buffer investment policies and company director compensation procedure. These efforts are the result of Company-wide collective efforts. We also work with our clients, NGOs, public authorities and the scientific world and our stakeholders to consider better tools and better practices to succeed in the ambitious transformation of our society in line with the targets of the Paris Agreement. We believe that managing climate challenges means acting transparently in the governance of climate themes and explaining our overall strategy on such themes. This is based on analysis of climate risks and opportunities and is reflected in an ability to measure the climate impact of our portfolios and monitor them to ensure alignment with the temperature scenario of the Paris Agreement. This is why we support the TCFD which offers a highly relevant framework to mainstream subject-specific communications. On a personal level, I am committed to this transformation. I believe that our company can rise to the challenge, making an expert, efficient and fair contribution.