Delivering innovative, robust and scalable solutions that ensure sustainable performance for our customers is the commitment of CPR AM as a responsible financial player. The integration of Environmental, Social and Governance (ESG) criteria in addition to financial analysis contributes to the promotion of more sustainable development.
outstanding in Responsible Investment
+ 5 500
issuers rated by the Amundi Expertise ESG team on environmental, social and governance criteria
asset manager to propose a solution to fight global warming in partnership with the CDP
Responsible Investment, the translation of sustainable development into asset management, offers a more global vision of economic players, allowing them to understand all their risks and opportunities and to better appreciate their potential for long-term performance.
CPR Asset Management is convinced that investment in the financial markets is a means of introducing better practices on the part of both public and private actors. To achieve this, CPR AM relies on the resources made available by the Amundi Expertise ESG team, a non-financial research and analysis center common to the entire Amundi group.
While CPR AM launched its first responsible investment solution in 2006, the dynamic was launched in 2016 with structuring research work on an ESG methodology through risks in co-development with an institutional client. CPR AM is part of the three-year action plan "Ambitions Amundi 2021" for a 100% responsible offer.
Recognized experts at the service of our customers
All fund managers of CPR AM have access in real time to all ratings established and disseminated by the ESG Analysis Department of Amundi. 12 dedicated analysts rate more than 5,500 issuers, including the entire MSCI World. According to a Best-in-Class approach, all issuers are rated on a scale from A to G (A designating ESG best practices) based on 36 ESG criteria:
A 3-step process based on 36 ESG criteria
15 generic criteria common to all issuers irrespective of their sector of activity, such as environmental strategy, human rights, transparency of governance policy
21 specific criteria, specific to the challenges of each sector, such as access to medicines for the pharmaceutical industry, the green car for the automobile, etc...
The criteria are weighted according to the challenges of the sector of activity. The greater the risk associated with a criterion in a sector, the higher the weighting of that criterion is.
SOLUTIONS TO SUPPORT INVESTORS
ESG criteria integrated into all our management
To meet the group's commitments, G-rated securities are systematically excluded from all portfolios, regardless of asset class. Category G includes companies involved in the manufacture or marketing of antipersonnel mines, and / or cluster bombs, companies producing or marketing chemical weapons, biological weapons and depleted uranium weapons. and companies seriously violating the principles of the Global Compact.
More broadly, our management teams are attentive to ESG criteria and these are taken into account in the assessment of securities, even if the portfolios concerned have not formally adopted a specific ESG approach. The degree of integration varies depending on the approach chosen, the investment universe and the trust assigned by each client.
Our risk-based approach methodology developed in 2016 was broken down into two approaches: a global approach applicable to all asset classes and a thematic approach specific to the challenges of our Thematic Equity range. For these two approaches to responsible investing, our philosophy is the same: to seek materiality in defining our "investable" universe to create sustainable value. The management teams will also be interested in both the issuer's overall rating and the ratings of the underlying criteria ratings.
Investment solutions that cover all asset classes
Anxious to support the management proposed by an active reflection around responsible investment, CPR Asset Management sits at the Commission in charge of SRI (Socially Responsible Investment) within the Association Française de Gestion Financière (AFG).
Alongside its shareholder Amundi, CPR Asset Management has been committed since 2006 to the Principles for Responsible Investment (PRI), promoted by the United Nations Global Pact.
Our Group actively participates in workshops led by market organizations aimed at developing responsible finance, sustainable development and corporate governance. We are a member of the Association Française de Gestion financière (AFG), the European Association of Asset Management (EFAMA), the Institut Français des Administrateurs (IFA), the Observatoire de la Responsabilité Sociétale des Entreprises (ORSE), the Société Française des Analystes Financiers (SFAF), Sustainable Investment Forums (SIF) French, Spanish, Italian, Swedish, Canadian, Japanese and Australian, and the French association "Entreprises pour l'Environnement ".
This work is the subject of a commitment report published annually by the ESG Analysis and Corporate Governance team of the Amundi group.
Vote and shareholder dialogue
For CPR AM, the financial performance of companies can only be sustainable in a long-term vision. This is why CPR AM fully plays its role of shareholder through the exercise of its voting rights and shareholder dialogue, the voting policy being applicable to all entities of the Amundi group and implemented by Amundi AM.
During the year 2017, CPR AM voted in 1176 meetings, more than 99% of the scope. Of the 6,756 resolutions voted, 13% were opposition votes. These mainly concern the structure of the Boards and Remunerations.