Amundi Asset Management moved to support 88% of climate –related shareholder proposals during the 2023 proxy season as part of a push for “improved transparency on issuers’ energy transition path”.
In Amundi’s 2022 engagement report, released on July 12, the European asset manager said 2022 demonstrated “why tackling climate change while limiting social impact, is not only a global sustainability objective, but also key for the economy.”
Amundi Asset Management more than doubled the number of companies it engaged with on climate-related concerns in the period, targeting over 400 in 2022 and voting against over 500 directors due to climate concerns.
Amundi has placed particular focus on the energies and utilities sectors as part of its engagement, voting against CEO remuneration at 89 different annual meetings in these sectors due to a lack of climate-related key performance indicators, and voting against the reelection of more than 500 directors due to concerns about climate strategy.
Caroline Le Meaux, Amundi’s head of ESG research, engagement, and voting, said, “Amundi believes that every sector and economic player must take immediate action to accelerate their transition, thus contributing to limiting global warming.”
As part of its “2025 ESG Ambition” plan, the fund manager is accelerating its engagement effort with a plan to engage with at least 1,000 additional companies on their respective climate strategies.