New Ambitions for 2025: 10 key measures to accelerate Amundi’s transformation
Building on the progress of its previous ESG Plan, and above all conscious of the efforts still needed for all sectors and companies to align with the Paris Agreement while maintaining social cohesion, Amundi wishes to go even further. In addition to joining the Net Zero coalition of Asset Managers in July 2021, Amundi today seeks to achieve a faster path towards decarbonisation by presenting a new 2022-2025 action plan. This plan is based on three objectives: 1) to ensure that its saving solutions offering goes even further in terms of responsible investment, 2) to call upon more companies to define credible alignment strategies with the Net Zero 2050 objective and 3) to ensure the support of its employees and shareholders in its new ambitions.
For its savings and technology solutions, Amundi commits to:
1. Introducing a new environmental transition rating that assesses companies’ efforts in decarbonizing their operations and the development of their sustainable activities, covering €400bn euros of actively managed open funds. In order to encourage companies to make this transformation, the portfolios will aim to have an environmental transition profile that is better than their benchmark. As a result, portfolios will overweight those companies that have made the most efforts in their energy transition.
2. Offering open funds in all asset classes with a Net Zero 2050 investment objective.
3. Reaching €20bn in assets in impact funds that will invest in companies that positively contribute to environmental or social performance. This impact will be measured and reported on annually.
4. Ensuring that 40% of its range of passive funds is made up of ESG funds
5. Developing Alto Sustainability, a technology analysis solution designed to support investors in decision-making regarding the environmental and social impact of their portfolio.
In terms of voting & engagement with companies:
6. Working with 1000 additional companies to define credible strategies for reducing their greenhouse gas emissions, to vote at their annual general meetings and for management remuneration packages to be linked to these strategies.
7. From 2022, excluding from its portfolios companies that generate over 30% of their activity from unconventional oil and gas production.
Amundi will apply to its own business what it asks of other companies, and has therefore decided to:
8. Take into account the level of achievement of these ESG objectives (weight 20% of total criteria) in the KPIs calculation of performance shares for our 200 senior executives. We will also set ESG targets for all portfolio managers and sales representatives.
9. Reduce its own direct greenhouse gas emissions by approximately 30% (vs. 2018) per employee in 2025.
10. Present its climate strategy to its shareholders at the next annual general meeting in 2022.