Asset managers mobilize to demand more international financing against Covid-19

Posted on Feb 23, 2019 2021 at 14:00Updated Feb 23, 2019 2021 at 19:00

After climate coalitions and shareholder resolutions for better corporate governance, the major global managers have a new battle horse: to demand states and companies to “ effective, equitable and just global response ” facing the Covid-19. To date, 148 management companies and institutional investors (pension funds and churches) totaling $ 14 trillion in financial assets have responded to the call, published on Tuesday by the Dutch NGO Access to Medicine Foundation, known for its rankings of pharmaceutical companies.

The common platform is initialed by around ten French managers, including AXA IM, La Banque Postale AM, Groupama AM, Comgest, Mirova and Sycomore AM. For the moment, most of the subsidiaries of European banks, such as Amundi and BNP Paribas AM, have not responded, like the American giants of the sector, out of reluctance or due to slower decision-making processes. “We urgently brought together more than a hundred signatory investors, in just three weeks, after the high-level meeting of finance ministers for the ACT accelerator [initiative internationale de lutte contre le Covid-19, NDLR] and in time to communicate between last week’s G7 leaders ‘meeting and the G20 finance ministers’ meeting on Friday ”, explains Damiano de Felice, Director of Strategy for Access to Medicine Foundation.

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