We consider the consistent and transparent exercise of voting rights to be a key element of our position as a responsible investor, and one of the two pillars of our stewardship philosophy, along with commitment.
As such, our voting policy1, updated each year, reflects our holistic analysis of all issues that may influence long-term value creation. It is consistent with our active ownership approach and therefore rests on a diligent and multidimensional analysis of each company.
The recent voting season has shown how it has translated into concrete actions at Annual General Meetings (AGM):
- We voted at 10 357 annual general meetings of 7 751 companies
- We voted in favour of:
- 88% climate-related shareholder resolutions
- 83% social, health, and human rights related shareholder resolutions
- We opposed 8% of director elections (and discharges) due to ESG concerns
- The right composition of Boards of Directors, the empowerment of directors on ESG topics, as well as the alignment of executive remuneration with their sustainable strategy are topics on which we have been strongly mobilized in 2023 in our voting strategy at general meetings
Jean-Jacques Barbéris, Head of Institutional and Corporate Clients Division & ESG:
As a major asset management company, Amundi is a shareholder of thousands of companies via funds and mandates it manages on behalf of its clients. Exercising our voting rights is a central dimension of our role as responsible investors and a duty to protect the interests of our clients. Amundi’s votes come after the thorough analysis of all long-term issues that may influence long term value creation, including material Environmental, Social and Governance (ESG) issues.
Caroline Le Meaux, Global Head of Research, Engagement and Voting:
Together with engagement, exercising our voting rights is a key pillar of our stewardship activity and deploy Amundi’s responsible investment agenda. Amundi has a clear approach, which is consistent, ambitious and pragmatic, searching for the balance path towards a sustainable low carbon economy that create value for our clients.
We intend to fully exercise its responsibility as an investor by voting at all general meetings, whenever it is operationally possible, according to our Voting Policy. Casting a vote every year at more than 10,000 general meetings allows us to share our views with investee companies and hold them accountable on their ESG practices.
Evolution in the structure of our voting report
In 2024, we have increased its transparency regarding the integration in our voting approach of environmental and social considerations, which are now outlined in a separate chapter in the Voting Policy titled “Environmental and Social Issues”.
In compliance with the EU Shareholder Rights Directive II, we also provides a complete list of significant votes and the rationales of the voting decisions in a separate appendix of the 2023 Voting Report. Amundi identifies as significant votes:
- Shareholder proposals related to sustainability topics (environment, climate, labour rights, human rights, etc.);
- “Say on Climate” proposals
[1] For additional information on the content and scope of application of the Amundi’s voting policy, click here