Retraite Additionnelle de la Fonction Publique (ERAFP); Vice Chair, IIGCC
ERAFP is a mandatory pension fund for French civil servants in France, with 4.5 million members and assets of €20bn. France is especially interesting as all pension funds, insurance companies and other institutional investors are now required to disclose how they consider environmental, social and governance issues in decision-making processes- including climate risk. Investors will also need to set targets to measure progress and explain if targets are not achieved.
As a graduate of Sciences Po in Paris and the French National School of Administration, Philippe started his career at the French Treasury in 1985. From 1995 to 1997, he was Special advisor to Mr Jacques Barrot, the French Minister of Labour and Social Affairs. In 1998, he joined AXA Group as Senior Manager and became CEO of two subsidiaries. From 2006, Mr Desfossés was Director of Corporate Affairs & Business Development and member of the Executive Committee of Lilly France.