Stewardship is one of the three key pillars of our 2028 Climate Action Plan. It reflects our strong belief that ambitious, structured, and pragmatic active dialogue with our investee companies is more effective than excluding or divesting from them.
Encouraging companies to better manage sustainability challenges and opportunities
Our engagement and voting activities are designed to improve the medium to long-term risk/return profile of your portfolios. Through active dialogue with investee companies, our goal is to:
01
Better manage their sustainability risks
Better manage their sustainability risks through best practice dissemination and by driving a better integration of sustainability in their governance, operations and business models.
02
Better cope with impacts on sustainability factors
Better cope with impacts on sustainability factors by triggering positive change in how they manage their own impacts on critical issues for the sustainability of our economy.
03
Support mid and long term growth
Support mid and long term growth by encouraging them to make their own profitable transition to more sustainable business models and to adjust their level of investment accordingly.
Our engagement process
Our engagement process is built on a structured dialogue with issuers, supported by clear objectives, regular progress reviews and defined milestones to drive tangible improvement. Where progress proves insufficient, escalation measures may be considered to strengthen the impact of our stewardship approach.
We engage with issuers around 5 main areas
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Transition to a low carbon economy
Discover moreThe climate transition agenda advanced further in 2025. We engaged 285 issuers, up from 226 in 2024 and 15 coal development projects were stopped or shelved.
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Natural capital preservation
Discover moreProgress across the world on biodiversity, oceans, water, deforestation or plastics continued to build in 2025. We engaged with 901 issuers.
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Human capital & human rights
Discover moreIn 2025, we observed substantial progress across the 852 companies we engaged, evolving towards more sophisticated human rights programmes.
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Client protection & social safeguards
Discover moreIn 2025, our engagement was increasingly shaped by the acceleration of digital transformation and the broader deployment of AI on digital rights, AI ethics and cybersecurity.
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Governance
Discover moreIn 2025, we engaged with 1,558 companies on governance topics: board independence, gender diversity, board competency, ESG oversight, and ESG-aligned executive compensation.
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Emerging themes
Discover moreSemiconductor, Artificial Intelligence and Health are increasingly important for issuers, investors and for us. Their relevance is growing as economic, technological and societal shifts accelerate.
Key figures of our engagement
unique issuers engaged with, across Europe, Asia, North America and Emerging Markets
1,700issuers engaged on Climate
901issuers engaged on Natural Capital
852issuers on Human Capital and Human Rights
Voting transparently to promote good governance practices
Voting contributes to long-term shareholder value when conducted by an owner committed to understanding and promoting sound governance alongside responsible business practices, including attention to both ESG risks and opportunities. This is the underlying principle of being a responsible shareholder that we strive to live up to.
To this end, we vote in a consolidated manner for all open funds over which it has full discretion, based on a transparent Voting Policy.
