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Paris, 21 April 2022: Prior to 12 April 2022 , a group of 12 French investors – including Candriam, Egamo, ERAFP, La Banque Postale Asset Management, La Financière de l’Echiquier, Mandarine Gestion, Meeschaert Amilton AM, Messieurs Hottinguer & Cie Gestion Privée, OFI AM, Sanso IS, and Sycomore AM – filed a draft resolution at TotalEnergies’ annual general meeting, requesting: 1/ the disclosure of climate goals based on an exacting and ambitious framework; and 2/ a recurring vote via an annual say-on-climate resolution.
Sponsored by investors concerned about their climate impact and wishing to accelerate the transition of companies whose carbon trajectories will be decisive in whether the Paris Agreement goals will be achieved, this project aimed to obtain greater transparency on climate strategy in order to enable investors to assess in complete objectivity the company’s alignment with a scientific scenario.
This draft resolution is now null and void.
Following contacts with investors, and in particular with this coalition, TotalEnergies announced it had pledged to disclose the following :
Candriam, which stands for "Conviction AND Responsibility In Asset Management", is a multi-specialist European asset manager. As a pioneer and leader in sustainable investments since 1996, Candriam manages about €158 billion in assets1 and relies on a team of more than 600 professionals. Candriam has asset management centres in Luxembourg, Brussels, Paris and London, and its client account managers cover more than 20 pays throughout continental Europe, the United Kingdom, the United States and the Middle East. Candriam offers investment solutions2 in several key areas: bonds, equities, absolute return and asset allocation strategies, with broad and innovative range of ESG strategies covering all these asset classes. Candriam is a New York Life company. New York Life Investments3 is one of the world’s top asset managers4.
To find out more: www.candriam.com
1. As of 31 December 2021. Assets under management include assets that do not fall under the definition of the US Securities and Exchange Commission (SEC) of “regulatory assets under management” as stated in Declaration ADV, Part 1A.
2. Not all products and services are available to all investors in all regions.
3. “New York Life Investments” is an operating name and a name shared with some investment advisors affiliated with New York Life Insurance.
4. Source: New York Life Investments is the world’s 27th largest asset manager (Pensions & Investments, June 2021) based on total worldwide institutional assets under management as of the end of 2020. New York Life Investments’ assets include the assets of affiliated investment advisors.
SAs an asset management subsidiary of Groupe VYV since November 2018 and with more than €20 billion of assets under management, EGAMO specialises in discretionary management and management of dedicated funds on behalf of mutual insurance companies and institutional actors in the social economy.
Since its inception, in 2008, EGAMO has chosen to integrate environmental, social and governance issues into its investment policy and to apply them to all its activities.
This conviction is reflected in its mission statement, which is the cornerstone of its sustainable development strategy: “Committed to sustainable and high-performance finance, a factor in mutual development”.
EGAMO is also a member of several initiatives, including PRI, CDP, FIR, Réseau France du Pacte Mondial, FAIRR, and the Finance for Biodiversity Pledge.
To find out more: www.egamo.fr
ERAFP is a French public pension fund and a 100% SRI-focused institutional investor, with almost €40 billion in financial assets invested fully in accordance with a 100% socially responsible approach. It is one of the largest SRI-driven institutional investors and also one of the world’s largest public pension funds in terms of affiliates, with almost 4.5 million beneficiaries, 43,000 employers and almost €2 billion in dues collected in 2021. As a mandatory points-based pension system, ERAFP has managed since 1 January 2005 the additional pension rights of civil servants, local governments and public hospitals.
To find out more about ERAFP: www.rafp.fr
Messieurs Hottinguer & Cie – Gestion Privée SA is one of France’s main independently owned asset managers companies. It is a wholly owned subsidiary of Banque Hottinguer, which is majority-controlled, in turn by the Hottinguer family.
Messieurs Hottinguer & Cie – Gestion Privée today manages more than €3 billion in assets through its private banking, discretionary management and asset management teams. It aims to be a benchmark player in socially responsible and engaged investment. Banque Hottinguer and its subsidiary, Messieurs Hottinguer & Cie – Gestion Privée, take a fully proactive approach in financing the energy transition and achieving of the United Nations Sustainable Development Goals (SDGs). Banque Hottinguer is a signatory of the Principles for Responsible Investment (PRI) and sits on the Climate and Sustainable Finance Committee of the French Financial Markets Authority (AMF). Messieurs Hottinguer & Cie – Gestion Privée is a member of the Forum de l’Investissement Responsable (FIR) and the France Invest association. Since 2021, it has also been a member of the Institutional Investors Group on Climate Change (IIGCC) and takes active part in the Climate Action 100+ international engagement initiative.
To find out more: www.banque-hottinguer.com
LLBP AM is owned 70% by La Banque Postale, 25% by Aegon Asset Management and 5% by Malakoff Humanis.
As a leader in multi-specialist conviction-driven SRI asset management, LBP AM has four investment divisions: equity management via its Tocqueville Finance subsidiary; real & private assets (with a focus on debt); multi-assets & absolute return, and quantitative solutions. To its institutional investor clients, mutualist and other insurance companies, large corporate clients and external distributors, its offers open-ended funds, dedicated funds and mandates.
As of 31 December 2021, consolidated managed and distributed assets of LBP AM and its Tocqueville Finance subsidiary came to 60 billion euros.
To find out more: www.labanquepostale-am.fr
Established in 1991, La Financière de l’Échiquier (LFDE) is one of France’s top entrepreneurial asset management companies. LFDE relies on its conviction-driven know-how to offer its institutional, distributor and private clients the responsible products and solutions they need to get the greatest value from their investments. LFDE currently manages €14.5 billion*, has more than 140 employees and has a footprint in German, Austria, Spain, Italy, Switzerland and the Benelux.
*Figures as of December 2021
www.lfde.com
Founded in 2008, Mandarine Gestion is an independent French asset management company specialising in equities. It combines the independence of a boutique management firm on a human scale with the support of well-regarded minority shareholders (Arkéa Investment Services, Financière Dassault and La Banque Postale AM Holding). Mandarine Gestion now manages €3.5 billion and has 40 employees. It deploys its management offering in France and several other European countries with a diversified clientele of institutional investors, distributors, multi-management companies and wealth management advisors. Mandarine Gestion is also involved in the social and solidarity economy, notably in managing the NovESS fund started by Caisse des Dépôts et Consignations.
Born of the merger of two asset management firms of Groupe LFPI, Meeschaert Amilton AM is one of France’s main independent asset management firms with €4 billion in assets under management and about 50 employees.
Meeschaert Amilton AM possesses acknowledged capabilities in equity, bond and multi-asset class management for all types of investors, including institutionals, wealth management advisors, family offices and foundations.
As a pioneer in ethical and responsible investment in France, it has developed distinctive capabilities and innovations, particularly in socially responsible investment (SRI) and revenue-sharing funds, through which it has supported many foundations and philanthropic projects.
To find out more: www.meeschaert-amilton.com
Choosing actors that create sustained value for everyone is to lay the groundwork for the future. Committed to responsible finance for the past 25 years, Groupe OFI is a benchmark in asset management and a French SRI leader. Founded 50 years ago, in 1971, OFI managed €70 billion in assets as at December 2021 in both listed and non-listed assets on behalf of French and international institutional and wealth-management clients. The Groupe possess a long-standing anchoring in the social and solidarity economy. Its main shareholders are Macif and Matmut.
www.ofi-am.f
Sanso Investment Solutions is an entrepreneurial asset management firm established in 2011 and whose assets under management amounted to 1.5 billion euros as of the end of 2021. Its socially responsible investment approach applies to almost all of its line of open-ended funds, which includes international equity strategies and crossover corporate bonds. It also possesses long-standing know-how in selecting funds and in multi-management, particularly with an SRI dimension , and a large portion of its AuM is managed on the basis of tailored strategies.
Sanso Investment Solutions is a signatory of the PRI and CDP, a member of the Forum de l’Investissement Responsable (FIR), and the European shareholder engagement network Shareholders for Change. It also supports various associations and foundations by donating a portion of its revenues or management fees from certain funds.
To find out more: www.sanso-is.com
Founded in 2001, Sycomore Asset Management, an asset management firm driven by a strong entrepreneurial spirit, specialises in responsible investment in listed companies. Since its founding, Sycomore has been committed to delivering sustained returns by identifying levers for companies to generate sustained value.
Its expertise is based on fieldwork and a proprietary model of fundamental research on companies integrating financial and extra-financial criteria. Its team of 26 analysts-managers, including nine ESG (environment, social, governance) specialists, is tasked with assessing a company’s comprehensive performance with regards to its stakeholders: shareholders, clients, employees, suppliers, the civil society and the environment.
In 2020, Sycomore AM became an “entreprise à mission” and received the B Corp TM label, thus attesting to its determination to make a positive contribution to society: “a force for good”.
As a benchmark player in responsible investment, Sycomore AM is a member of, among others, the Forum de l’Investissement Responsable (FIR), the Global Impact Investing Network (GIIN), and the Institutional Investors Group on Climate Change (IIGCC). It continues to work on quantifying environmental and social impacts.
Citigate Dewe Rogerson
Kristell Le Nadan – Director – +33 6 98 49 22 27 – Kristell.lenadan@citigatedewerogerson.com
Tom Ruvira – Account Manager – +33 7 60 90 89 18 – Tom.ruvira@citigatedewerogerson.com