Hydrogen, first documented back in 1766, is the simplest, lightest and most abundant chemical element in our universe, the first element in the periodic table, and yet it made it possible for humans to explore space. For right and wrong reasons, hydrogen has also often been cited as the number one solution to decarbonization.
Vincent Compiègne, Sairindri Christisabrina, ESG, SRI
One clear conclusion is that pension fund-related institutions which have not yet embraced ESG will find themselves suddenly launched two squares forward on the chessboard, as they rush to integrate ESG into the overall governance of how they manage or administer pension assets and plans.
We continue to discover interesting opportunities in the corporate bond universe. Philippe Noyard, Global Head of Fixed Income at Candriam, Patrick Zeenni, CFA, Head of Investment Grade & Credit Arbitrage, and Nicolas Jullien, CFA, Head of High Yield & Credit Arbitrage, explain how their approach aims to optimise the credit market’s potential with the objective of generating returns.
Thomas Madesclaire, Senior Fund Manager, and Dany Da Fonseca,
CFA, Senior Fund Manager, present their Euro Corporate Sustainable
strategy and explain why they believe it is essential to combine credit
and ESG analysis.
Q&A, Philippe Dehoux, Sylvain De Bus, Pierre Boyer
Philippe Dehoux, Head of Global Bonds at Candriam and lead
manager of our Sustainable Euro Short Term Fixed Income strategy,
Sylvain de Bus, Deputy Head of Global Bonds and co-manager, and
Pierre Boyer, Head of Money Markets & Short Term and co-manager,
discuss how short-term bonds combined with ESG selection criteria
can help make the most of the opportunities offered by the European
bond market in today’s volatile environment.
The Investment Stewardship concept calls on investors to use all means at their disposal to create: long-term value for their clients and beneficiaries & sustainable benefits for the economy, the environment and society.
Candriam Proxy Voting Policy
As a Responsible investor, Candriam pays particular attention to the corporate governance policies, structures and practices of the companies in which it invests on behalf of its customers and the funds under management.
Predeclaration of Voting Intentions
Starting from 2022, Candriam decided to pre-announce some of its voting intentions ahead of the related general meetings when such pre-declaration may answer to stakehoders’ demand of improved transparency, serve an engagement objective or as an escalation measure.
Details of votes
Voting Dashboard since 2020
2022 Annual Engagement & Voting Report
Engagement and voting are at the centre of our investment strategy, and we remain close to our managers. However, Engagement is never an alibi. Escalation measures are taken when necessary.
2022 Engagement Annual Review
This year we made a specific effort to show through examples how we adapt engagement
to specific assets or geographies, how internal parties are involved, and how engagement informs our investmentdecisions.
2022 Voting Annual Review
Candriam believes that exercising our voting rights is a core element of our Conviction and our Responsibility as an asset manager. Voting is thus fully embedded in our sustainable strategy.
2022 Details of direct dialogues
2021 Details of direct dialogues
2020 Details of direct dialogues
Mid-Year Voting Report 2023
While for the most part, the 2023 proxy season unfolded as expected, we did witness a
few surprises.
Key voting takeaways in 2021
Having passed the mid-year point, we are able to discern some major trends
emerging from the 2021 voting season.
Lessons from the 2020 Voting Season
All around the world, there have been significant delays and cancellations of annual general meetings (AGMs) during the early stages of the pandemic, leading to audit process failures in Asian markets and other challenges. However, this did not stop some of the emerging voting trends, such as climate-related resolutions, which featured prominently at a number of important meetings.
2019 Engagement report
The year 2019 was rich and eventful, spanning a complex list of topics. This summary focuses on our three Conviction Topics, which together accounted for more than two-thirds of our total direct issuer dialogues. These same three topics, Energy Transition, Fair Working Conditions, and Business Ethics, have marked our efforts over the last five years, and will be the stepping stones to 2020 and beyond.
2018 Engagement report
Integrating ESG factors into the financial analysis of companies, engaging in constructive dialogue with them to encourage best practices and exercising the shareholder vote should be the norm for any committed investor for whom ESG is more than just three letters. At Candriam, these three actions have been a reality in our daily lives as investors for nearly 20 years.
Case Studies
2023 Case Study – Active Engagement: Unilever
Although Unilever was already an example of ‘Best Practice’ in food industry nutrition transparency, a working group of investors believes that the entire food industry must do better. And good news! When Unilever raised the game, other major food producers quickly followed to adopt the new, stronger best practices.
2023 Case Study –Teleperformance: Engagement Update
Teleperformance had historically been embraced by the sustainable community, with a reputation for understanding the importance of employee well-being. It receives awards for employee satisfaction, and includes employee well-being as a factor in its executive remuneration.
2022 Case Study – Active Engagement: Post-Covid Engagement Takeaways
The pandemic changed the rules of the game at both individual and collective scales. It impacted the world economy from many different perspectives. Not only did it create a short-term financial strain, it also pushed several corporates to re-draft their long-term strategies.
2022 Case study - Active Engagement: Kingspan
Kingspan Group is an Ireland-based company that provides insulation and building
envelope solutions. It has five operating divisions, with the production of insulation
products accounting for over 80% of company’s business.
2022 Collaborative Initiative - Active Engagement: Investor Engagement on Human Rights Risks of Facial Recognition Technology
Governments, law enforcement agencies and corporates are rushing to adopt Facial Recognition Technology (FRT) with a hope of increasing security, as well as improving efficiency and customer experience. Investors are highly interested. FRT, along with other Artificial Intelligence (AI) functions, is a promising technology. Concurrently, its rapid deployment has raised major concerns about the impact on privacy, data protection and civil liberties.
2022 Case Study – Active Engagement: Small and Mid-Cap Companies: Human Capital Management
SMID companies have fewer resources than their large-capitalization peers, yet are often growing faster. We apply our experience in Engagement campaigns to the special situations of these companies, beginning with their need to recruit, train, and retain employees, while competing against larger companies for the same workers.
2021 Case Study – Active Engagement: Access to medicines, or how equality has become a central issue for pharma businesses
The health crisis has caused more than 900,000 deaths in Europe1. But it has also illustrated the health sector’s tremendous drive for innovation in its search for solutions to the pandemic. Candriam’s aim in its investments in the health sector is to identify, amongst those companies capable of discovering and producing the solutions of tomorrow, the most innovative.
2021 Case Study – Active Engagement: Financial Institutions Climate Change Survey
The impacts of Climate Change on the financial sector are already measured in the billions, just for extreme weather events. Add in other elements such as credit risks for banks, and delays in tackling climate change could cost financial companies up to $1.2 trillion over the next 15 years.
2020 Case Study – Active Engagement: Collective Efforts: the Workforce Disclosure Initiative
The Covid Crisis has put a renewed spotlight on the ‘S’ in ESG. Investors need more transparency to analyze not only the employee stakeholder, but the flexibility and preparedness of companies in crises such as Covid.
2020 Case Study – Active Engagement: Teleperformance SE
Teleperformance is a global leader in digitally integrated business services, including call centers or web platforms, with employees in 80 countries. As a service business, it is people-driven, growing to 330,000 employees and €5 billion in revenues over 40 years. Headquartered in France, its largest perations are in EMEA, India, the Philippines, the United States, Mexico, Colombia and Brazil.
2020 Case Study – Active Engagement: BHP
Amongst industries, the metals and mining sector is responsible for a large part of man-made greenhouse gas emissions in Australia and globally; not only directly, but especially through the end uses of its products after extraction and sale. BHP is one of the world’s largest mining conglomerates, and one of Australia’s largest corporations.
Sovereign Sustainability
Sovereign Sustainability Report 2022
The age of the grey swan: Autocracies vs Democracies - Carbon Emissions - Food Security - Energy Transition
Candriam Policies
Candriam Exclusion Policy
This controversial activity policy is the concrete expression of Candriam’s sustainability leadership. It defines which activities, due to their widely recognised ethical and economic unsustainability, are to be excluded from Candriam’s investment portfolios across asset classes.
Candriam recognises the important role that asset managers play in tackling major global issues, such as health and climate change, and strives to be at the forefront of sustainability by advancing its policies and practices.
Candriam Climate Strategy
Our climate is changing faster and faster, bringing our world closer to disastrous social and economic consequences every year. We are reaching the tipping point on every planetary boundary, meaning that at the current pace, we will reach a point of no return in this decade, threatening the future of both our planet and mankind.
Candriam Sustainable Integration Policy
Financial markets play a pivotal role in the financing of companies’ activities to support economic growth and foster innovation. However, economic development and growth should be sustainable in the long run benefiting everyone across generations. In 2015, both the COP21 Paris Agreement and the UN Sustainable Development Goals (SDGs) clearly articulated the need to shift the emphasis from measuring economic growth to appraising and incentivizing sustainable economic development for all.
Candriam Sustainable Investment Policy
Sustainability is rooted in Candriam's operating model and forms a key part of our corporate culture. Candriam’s sustainable development strategy leads us to incorporate sustainability trends shaping the world of tomorrow within the process of defining our firm’s strategic orientations. Our philosophy is to establish and maintain a balance between responsible behaviour towards all stakeholders and the pursuit of sustainable financial performance.
Candriam Human Rights Policy
We believe that respecting and upholding Human Rights is part of our corporate responsibility, as an employer, in our operations, and as an asset manager to whom investors entrust their portfolios. We support the principles enshrined in key international conventions and standards that guide our Human Rights Policy, which applies to all Candriam staff and stakeholders, across the company’s operations and investment activities.
Candriam Climate Policy
Climate change is one of the most urgent and important challenges that society and investors are facing today.
CSR Report
Corporate Social Responsibility Report - Driving progress for people and the planet
2022 was a year of increasing complexity and challenges. Following the recovery from the global pandemic, the world was confronted with new adverse realities - geopolitical unrest from the Russia-Ukraine conflict, inflationary pressures, and escalating supply chain issues that brought about a global cost-of-living crisis. As we navigate these uncertainties, it becomes more important than ever to stand firm in our environmental, social and governance (ESG) goals.
Stewardship Report
Stewardship, a term often used when speaking of Voting and Engagement, includes those functions but is really an end-to-end process of responsibility, from establishing good governance at the top, all the way to delivering and safeguarding the investments which meet our clients’ needs. This report draws on all the specialty topics we report on – our philosophy and approach, investment process Transparency Codes, Voting, Corporate Social Responsibility, and how we determine client needs.
Guide to sustainable investing
Dispelling the five common myths
Dispelling some common myths of sustainable investing. True or false: sustainable strategies underperform? Let’s put an end to overcoming misconceptions of sustainable investing!
Emerging market companies hold the key to our climate future
In 2015, the year of the COPS21 conference in Paris, the global level of CO2 emissions reached 35.21 billion tons. In December that year, the Paris Agreement was signed, setting out a global framework to avoid dangerous climate change by limiting global warming to well below 2°C compared to the pre-industrial levels.
European Taxonomy
We welcome the European Taxonomy, a guide to help drive sustainable investements and green the financial sector. Find out more about how the taxonomy can be implemented in our whitepaper.
Navigating the alphabet soup
In this paper, we want to demystify the terminology and abbreviations so that you can understand the benefits of sustainable investing without being overwhelmed by jargon and acronyms.
Positive and negative approaches
Positive and negative approaches in Sustainable Investing: better understand them to align your investments with values and create outperformance through ESG.
The three most common questions on the new EU regulation
If you feel a bit lost faced with all the obscure acronyms that seem to be taking over the ESG debate these days, don’t worry, you are not alone in that situation. We have created this series of short briefing notes to provide you, as an investor, with the essential things you need to know to understand how what some have dubbed a “regulatory tsunami” will impact you and what you need to do next.
Does ESG Do What it Says? The New SFDR Requirements
Are 'Sustainable' investments truly sustainable? What Environmental, Social, and Governance factors are actually included in your investment? Does your investment really do what it says on the label? David Czupryna's overview of the new EU requirements concludes they are likely to clarify the situation, while the lingo may be a lot to learn.
Voting & Engagement: Pillars of sustainable investing
A guide to sustainable investing: Voting & Engagement – there is no sustainability without stewardship.
Guiding principles on ESG Promotion & Influence 2021
The Global Strategic Committee monitors the association membership and decides who represents Candriam within those associations. The principle is that ESG experts actively and regularly participate to RI working groups within industry associations and associations with an ESG purpose. Leading roles are also supported.
Guiding principles on ESG Promotion & Influence 2020
Candriam is committed to the Principles for Responsible Investment (PRI). This commitment is reflected in all of Candriam ’s activities as well as promoted in our relations with our stakeholders including the associations Candriam is member of.
Principles for Responsible Investment
Private Assessment Report
The Assessment Report is an export of the scores for all the assessed indicators and modules you responded to in the PRI Reporting
Framework during the 2023 reporting period.
Public Transparency Report
This public Transparency Report is an export of the signatory’s responses to the PRI Reporting Framework during the 2023 reporting period. It includes the signatory’s responses to core indicators, as well as responses to plus indicators that the signatory has agreed to
make public.
Transparency Code
Please find the Transparency Codes on the Fund pages.
Sustainability Overview
Sustainability, and Responsibility, must be part of the personality and culture of the firm. We need Responsibility to be a part of ourselves in order to translate it into your investments.