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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.

Sebbene Unilever fosse già un esempio di “migliore pratica” nella trasparenza nutrizionale dell’industria alimentare, un gruppo di lavoro di investitori ritiene che l’intera industria alimentare debba fare meglio. E buone notizie! Quando Unilever ha alzato la posta, altri importanti produttori alimentari l’hanno subito seguito adottando le nuove e più forti best practice..

Teleperformance had historically been embraced by the sustainable community, with a reputation for understanding the importance of employee well-being. It receives awards for employee satisfaction, and includes employee well-being as a factor in its executive remuneration.

La pandemia ha cambiato le regole del gioco sia a livello individuale che collettivo. Ha avuto un impatto sull’economia mondiale da molte prospettive diverse. Non solo ha creato una tensione finanziaria a breve termine, ma ha anche spinto diverse aziende a riformulare le proprie strategie a lungo termine.

Kingspan Group è un'azienda con sede in Irlanda che fornisce isolamento ed edilizia soluzioni di busta. Dispone di cinque divisioni operative, con la produzione di isolamenti prodotti che rappresentano oltre l’80% del business dell’azienda.

Governi, forze dell’ordine e aziende si stanno affrettando ad adottare la tecnologia di riconoscimento facciale (FRT) con la speranza di aumentare la sicurezza, oltre a migliorare l’efficienza e l’esperienza del cliente.

Le società SMID dispongono di meno risorse rispetto alle aziende a grande capitalizzazione, ma spesso crescono più rapidamente. Applichiamo la nostra esperienza nelle campagne di coinvolgimento alle situazioni speciali di queste aziende, a partire dalla loro necessità di reclutare, formare e trattenere i dipendenti, competendo con aziende più grandi per gli stessi lavoratori.

La crisi sanitaria ha causato più di 900.000 morti in Europa1. Ma ha anche illustrato l’enorme spinta all’innovazione del settore sanitario nella ricerca di soluzioni alla pandemia. L’obiettivo di Candriam nei suoi investimenti nel settore sanitario è quello di individuare, tra le aziende capaci di scoprire e produrre le soluzioni di domani, quelle più innovative.

Gli impatti del cambiamento climatico sul settore finanziario sono già misurati in miliardi, solo per gli eventi meteorologici estremi. Se si aggiungono altri elementi, come i rischi di credito per le banche, e i ritardi nell’affrontare il cambiamento climatico, i costi potrebbero costare alle società finanziarie fino a 1,2 trilioni di dollari nei prossimi 15 anni.

La crisi Covid ha riacceso i riflettori sulla “S” dei fattori ESG. Gli investitori hanno bisogno di maggiore trasparenza per analizzare non solo i dipendenti, ma anche la flessibilità e la preparazione delle aziende in crisi come quella del Covid.

Teleperformance è leader globale nei servizi aziendali digitalmente integrati, inclusi call center o piattaforme web, con dipendenti in 80 paesi. Essendo un'azienda di servizi, è guidata dalle persone e conta 330.000 dipendenti e 5 miliardi di euro di fatturato in 40 anni. Con sede in Francia, le sue maggiori operazioni sono in EMEA, India, Filippine, Stati Uniti, Messico, Colombia e Brasile.

Tra le industrie, il settore minerario e dei metalli è responsabile di gran parte delle emissioni di gas serra provocate dall’uomo in Australia e nel mondo; non solo direttamente, ma soprattutto attraverso gli usi finali dei propri prodotti dopo l'estrazione e la vendita. BHP è uno dei più grandi conglomerati minerari del mondo e una delle più grandi società australiane.

The age of the grey swan: Autocracies vs Democracies - Carbon Emissions - Food Security - Energy Transition

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.

2022 was a year of increasing complexity and challenges. Following the recovery from the global pandemic, the world was confronted with new adverse realities - geopolitical unrest from the Russia-Ukraine conflict, inflationary pressures, and escalating supply chain issues that brought about a global cost-of-living crisis. As we navigate these uncertainties, it becomes more important than ever to stand firm in our environmental, social and governance (ESG) goals.

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.

Voto e Coinvolgimento: non può esserci sostenibilità senza 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.