Publikationen

The Investment Stewardship concept calls on investors to use all means at their disposal to create: long-term value for their clients and beneficiaries & sustainable benefits for the economy, the environment and society.

As a Responsible investor, Candriam pays particular attention to the corporate governance policies, structures and practices of the companies in which it invests on behalf of its customers and the funds under management.

Starting from 2022, Candriam decided to pre-announce some of its voting intentions ahead of the related general meetings when such pre-declaration may answer to stakehoders’ demand of improved transparency, serve an engagement objective or as an escalation measure.

Voting Dashboard since 2020

The first six months of 2024 have been eventful.

As Active Investors, Engagement and Voting are at the centre of our investing and our stewardship. We work in partnership with our investees, as we believe in issuers’ capacity to achieve sustainable performance.

Since 2015, our three Conviction topics have been Energy Transition, Fair Work Conditions and Business Ethics. Our engagement framework is evergreen, but the specifics are ever-changing.

In 2023, we began to pre-declare our voting intentions. This provides transparency to our stakeholders and may also provide a means of escalation.

While for the most part, the 2023 proxy season unfolded as expected, we did witness a few surprises.

At Candriam, we define engagement as interactions we have on ESG issues, not only with current or potential investees but also with entities which, through their competence and/ or authorities, are able to initiate or influence change in the regulatory or market frameworks involving ESG aspects.

Having passed the mid-year point, we are able to discern some major trends emerging from the 2021 voting season.

All around the world, there have been significant delays and cancellations of annual general meetings (AGMs) during the early stages of the pandemic, leading to audit process failures in Asian markets and other challenges. However, this did not stop some of the emerging voting trends, such as climate-related resolutions, which featured prominently at a number of important meetings.

The year 2019 was rich and eventful, spanning a complex list of topics. This summary focuses on our three Conviction Topics, which together accounted for more than two-thirds of our total direct issuer dialogues. These same three topics, Energy Transition, Fair Working Conditions, and Business Ethics, have marked our efforts over the last five years, and will be the stepping stones to 2020 and beyond.

Integrating ESG factors into the financial analysis of companies, engaging in constructive dialogue with them to encourage best practices and exercising the shareholder vote should be the norm for any committed investor for whom ESG is more than just three letters. At Candriam, these three actions have been a reality in our daily lives as investors for nearly 20 years.

Sovereign engagement is rare, and direct engagement even more so. Not only is access difficult to obtain, but great care must be taken to avoid even the appearance of lobbying or interfering. This case describes a successful engagement with government representatives, IMF officials, and others which improved our understanding of a material event.

Obwohl Unilever bereits ein "Best Practice"-Beispiel für die Transparenz von Nährwerten in der Lebensmittelindustrie war, ist eine Arbeitsgruppe von Investoren der Meinung, dass die gesamte Lebensmittelindustrie besser werden muss. Und gute Nachrichten! Als Unilever die Initiative ergriff, folgten andere große Lebensmittelhersteller schnell und übernahmen die neuen, strengeren Best Practices.

Teleperformance wurde von der Nachhaltigkeits-Community stets bereitwillig angenommen, da dem Unternehmen sein Ruf vorauseilte, die Bedeutung des Wohlbefindens seiner Mitarbeiter zu verstehen. Es erhält Auszeichnungen für die Zufriedenheit seiner Mitarbeiter und integriert das Wohlbefinden der Mitarbeiter in die Vergütung seiner Führungskräfte.

Die Pandemie hat die Spielregeln sowohl auf individueller als auch auf kollektiver Ebene verändert. Sie wirkte sich aus vielen verschiedenen Perspektiven auf die Weltwirtschaft aus. Sie führte nicht nur zu einer kurzfristigen finanziellen Belastung, sondern zwang auch mehrere Unternehmen dazu, ihre langfristigen Strategien zu überdenken.

Die Kingspan Group ist ein in Irland ansässiges Unternehmen, das Dämmungs- und Gebäude Lösungen für Gebäudehüllen. Das Unternehmen hat fünf Geschäftsbereiche, wobei die Produktion von IsolierIsolierprodukte über 80 % des Geschäftsvolumens ausmachen.

Regierungen, Strafverfolgungsbehörden und Unternehmen beeilen sich, die Gesichtserkennungstechnologie (Facial Recognition Technology, FRT) einzuführen.

Kleine und mittlere Unternehmen verfügen über weniger Ressourcen als ihre großkapitalisierten Konkurrenten, wachsen aber oft schneller. Wir wenden unsere Erfahrung mit Engagement-Kampagnen auf die besondere Situation dieser Unternehmen an, angefangen bei der Notwendigkeit, Mitarbeiter zu rekrutieren, auszubilden und zu halten, während sie mit größeren Unternehmen um dieselben Arbeitskräfte konkurrieren.

Die Gesundheitskrise hat in Europa mehr als 900.000 Todesfälle verursacht1. Sie hat aber auch die enorme Innovationskraft des Gesundheitssektors bei der Suche nach Lösungen für die Pandemie gezeigt. Candriam möchte mit seinen Investitionen in den Gesundheitssektor die innovativsten Unternehmen identifizieren, die in der Lage sind, die Lösungen von morgen zu entwickeln und zu produzieren.

Die Auswirkungen des Klimawandels auf den Finanzsektor gehen bereits in die Milliarden, allein durch extreme Wetterereignisse. Rechnet man weitere Faktoren wie Kreditrisiken für Banken hinzu, könnten Verzögerungen bei der Bewältigung des Klimawandels Finanzunternehmen in den nächsten 15 Jahren bis zu 1,2 Billionen Dollar kosten.

Die Covid-Krise hat das "S" in ESG erneut in den Mittelpunkt gerückt. Die Anleger brauchen mehr Transparenz, um nicht nur die Stakeholder der Arbeitnehmer zu analysieren, sondern auch die Flexibilität und Bereitschaft der Unternehmen in Krisen wie der Covid-Krise.

Teleperformance ist ein weltweit führender Anbieter von digital integrierten Unternehmensdienstleistungen, einschließlich Callcentern und Webplattformen, mit Mitarbeitern in 80 Ländern. Als Dienstleistungsunternehmen ist das Unternehmen personalorientiert und hat in 40 Jahren 330.000 Mitarbeiter und einen Umsatz von 5 Milliarden Euro erzielt. Der Hauptsitz befindet sich in Frankreich, die größten Niederlassungen sind in der EMEA-Region, in Indien, auf den Philippinen, in den Vereinigten Staaten, in Mexiko, Kolumbien und Brasilien.

Unter den Industriezweigen ist der Metall- und Bergbausektor für einen großen Teil der vom Menschen verursachten Treibhausgasemissionen in Australien und weltweit verantwortlich, und zwar nicht nur direkt, sondern vor allem durch die Endnutzung seiner Produkte nach dem Abbau und Verkauf. BHP ist eines der größten Bergbaukonglomerate der Welt und eines der größten Unternehmen Australiens.

In dieser fünften Ausgabe unserer Sovereign Sustainability-Ergebnisse greifen wir erneut auf die Teilergebnisse zurück, um ein bestimmtes Thema in den mehr als 120 von uns analysierten Ländern zu untersuchen. In früheren Ausgaben haben wir die Wechselwirkung zwischen Klimazielen und Entwaldung, Klimazielen und Wohnungsbau sowie Rechtsstaatlichkeit und US-Wahlen untersucht. Angesichts der Tatsache, dass in diesem Jahr 50 % der Bürger weltweit zur Wahl gehen, versichern wir Ihnen, dass wir viele der Governance-Elemente unseres Modells in unsere Anlage- und Risikoanalysen einbeziehen.

This controversial activity policy is the concrete expression of Candriam’s sustainability leadership. It defines which activities, due to their widely recognised ethical and economic unsustainability, are to be excluded from Candriam’s investment portfolios across asset classes. Candriam recognises the important role that asset managers play in tackling major global issues, such as health and climate change, and strives to be at the forefront of sustainability by advancing its policies and practices.

Our climate is changing faster and faster, bringing our world closer to disastrous social and economic consequences every year. We are reaching the tipping point on every planetary boundary, meaning that at the current pace, we will reach a point of no return in this decade, threatening the future of both our planet and mankind.

Financial markets play a pivotal role in the financing of companies’ activities to support economic growth and foster innovation. However, economic development and growth should be sustainable in the long run benefiting everyone across generations. In 2015, both the COP21 Paris Agreement and the UN Sustainable Development Goals (SDGs) clearly articulated the need to shift the emphasis from measuring economic growth to appraising and incentivizing sustainable economic development for all.

Sustainability is rooted in Candriam's operating model and forms a key part of our corporate culture. Candriam’s sustainable development strategy leads us to incorporate sustainability trends shaping the world of tomorrow within the process of defining our firm’s strategic orientations. Our philosophy is to establish and maintain a balance between responsible behaviour towards all stakeholders and the pursuit of sustainable financial performance.

We believe that respecting and upholding Human Rights is part of our corporate responsibility, as an employer, in our operations, and as an asset manager to whom investors entrust their portfolios. We support the principles enshrined in key international conventions and standards that guide our Human Rights Policy, which applies to all Candriam staff and stakeholders, across the company’s operations and investment activities.

Climate change is one of the most urgent and important challenges that society and investors are facing today.

The current global economic and geopolitical landscape remains as uncertain as ever. While the challenges of the Covid-19 pandemic are fading into memory, the Russia-Ukraine war tragically continues and new conflicts have emerged in the Middle East. Even the stabilisation of leading economies and the retreat of inflation, though positive, leave many uncertainties about the next phase of global development. Additionally, the signs of destructive climate change continue to mount.

Stewardship, a term often used when speaking of Voting and Engagement, includes those functions but is really an end-to-end process of responsibility, from establishing good governance at the top, all the way to delivering and safeguarding the investments which meet our clients’ needs. This report draws on all the specialty topics we report on – our philosophy and approach, investment process Transparency Codes, Voting, Corporate Social Responsibility, and how we determine client needs.

Dispelling some common myths of sustainable investing. True or false: sustainable strategies underperform? Let’s put an end to overcoming misconceptions of sustainable investing!

In 2015, the year of the COPS21 conference in Paris, the global level of CO2 emissions reached 35.21 billion tons. In December that year, the Paris Agreement was signed, setting out a global framework to avoid dangerous climate change by limiting global warming to well below 2°C compared to the pre-industrial levels.

We welcome the European Taxonomy, a guide to help drive sustainable investements and green the financial sector. Find out more about how the taxonomy can be implemented in our whitepaper.

In this paper, we want to demystify the terminology and abbreviations so that you can understand the benefits of sustainable investing without being overwhelmed by jargon and acronyms.

Positive and negative approaches in Sustainable Investing: better understand them to align your investments with values and create outperformance through ESG.

If you feel a bit lost faced with all the obscure acronyms that seem to be taking over the ESG debate these days, don’t worry, you are not alone in that situation. We have created this series of short briefing notes to provide you, as an investor, with the essential things you need to know to understand how what some have dubbed a “regulatory tsunami” will impact you and what you need to do next.

Are 'Sustainable' investments truly sustainable? What Environmental, Social, and Governance factors are actually included in your investment? Does your investment really do what it says on the label? David Czupryna's overview of the new EU requirements concludes they are likely to clarify the situation, while the lingo may be a lot to learn.

Abstimmen und Engagement: Es gibt keine Nachhaltigkeit ohne Stewardship

The Global Strategic Committee monitors the association membership and decides who represents Candriam within those associations. The principle is that ESG experts actively and regularly participate to RI working groups within industry associations and associations with an ESG purpose. Leading roles are also supported.

Candriam is committed to the Principles for Responsible Investment (PRI). This commitment is reflected in all of Candriam ’s activities as well as promoted in our relations with our stakeholders including the associations Candriam is member of.

The Assessment Report is an export of the scores for all the assessed indicators and modules you responded to in the PRI Reporting Framework during the 2023 reporting period.

This public Transparency Report is an export of the signatory’s responses to the PRI Reporting Framework during the 2023 reporting period. It includes the signatory’s responses to core indicators, as well as responses to plus indicators that the signatory has agreed to make public.