General Assembly votes on environmental resolutions: the dilemma for investors

Posted on Sep 20, 2021, 10:22 AMUpdated Sep 20, 2021, 10:31 AM

In 2021, three French groups had their climate plan voted on by shareholders at a general meeting: Vinci, Atos and TotalEnergies. For some asset managers and investors, this is not enough. They believe that the practice of “say on climate” (modeled on “say on pay”, this annual vote on executive compensation) should be generalized to all large listed companies.

In early September, the FIR (Forum for Responsible Investment) called on SBF 120 companies to vote annually on their climate policies. This French body brings together investors (including Caisse des Dépôts, Préfon, Ircantec, AG2R La Mondiale), asset managers (Amundi, Allianz Global Investors, Ostrum Asset Management), consultants and members of civil society. Cumulatively, they manage 4,500 billion euros in assets.

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