CANDRIAM Announces Advanced Decarbonisation Ambition and Joins Net Zero Asset Managers Initiative

2 november 2021

CANDRIAM, a global multi-asset manager focused on sustainable and responsible investment, and a recognised industry leader on climate reporting by the United Nations Principles for Responsible Investment (PRI) [1] , has committed to align and contribute to the achievement of net zero by 2050. As part of this commitment, CANDRIAM will aim to secure a 50 per cent reduction in greenhouse gas emissions across a significant share of its investment portfolio by 2030 and will pursue net zero emissions of its investment portfolio by 2050 or sooner.

Enhanced Decarbonisation Strategy

For over 15 years, CANDRIAM’s ESG analysis has embedded climate mitigation and adaptation across CANDRIAM’s sustainable investment strategies. CANDRIAM has been measuring and disclosing the carbon footprint of its sustainable funds for several years with the overarching ambition to reduce the footprint of these strategies year-on-year. As a result of this ambition, CANDRIAM has reduced the carbon footprint of its sustainable funds by at least 30% on average, relative to the market, with many funds going even further.

CANDRIAM will detail its approach to securing greater levels of decarbonisation within its funds and investment strategies in its enhanced climate strategy, due to be published in early 2022, in alignment with the Paris agreement. Moving beyond integrating scope 1 & 2 carbon footprinting, CANDRIAM’s enhanced climate strategy will include the integration of climate goals in ESG research and investment objectives, extending the measurement of carbon performance to scope 3 emissions where relevant, and will reinforce CANDRIAM’s leading engagement and voting practices to align with the Paris goals

Climate Engagement and Stewardship

CANDRIAM’s industry-recognised climate engagement and stewardship strategy, that specifically targets investments with the highest climate risks, will guide emission reductions within CANDRIAM’s portfolio. It is CANDRIAM’s conviction that systematic support of climate action is not optional, and that each company must have an explicit and achievable decarbonisation strategy. During this year’s annual general meeting season, CANDRIAM applied a detailed framework to every ‘Say-on-Climate’ resolution of its portfolio companies, assessing the alignment of each portfolio company’s transition strategy with a 2050 net zero emissions pathway. This review resulted in CANDRIAM voting against 25% of shareholder resolutions because CANDRIAM believed the company’s plans were not sufficiently ambitious. CANDRIAM’s high level of engagement will be increased further, both in terms of number of targeted issuers and ambition, by CANDRIAM’s forthcoming enhanced climate strategy.

Net Zero Asset Managers Initiative

In addition to its advanced decarbonisation ambition, CANDRIAM has also become a signatory to the Net Zero Asset Managers Initiative (NZAMI), supporting the goal of net zero greenhouse gas emissions by 2050 or sooner, in line with global efforts to limit warming to 1.5 degrees Celsius.

Whilst CANDRIAM already aligns with a number of the initiative’s commitments, it will make continued progress on aligning with all remaining commitments set out by the initiative and will work with its fellow signatories to secure industry wide best practice on achieving net zero by 2050 or sooner.

Naïm Abou-Jaoudé, CEO of CANDRIAM says: “As a responsible active asset manager, we are proud to join the Net Zero Asset Managers Initiative whilst sharing our enhanced decarbonisation ambitions. Asset managers have the power to play a leading role in accelerating the transition to a global net zero economy. By having an ambition to achieve a 50 per cent reduction in emissions by 2030 across a significant share of our investment portfolios, and achieving net zero by 2050 or sooner, we are delivering on our commitment as an industry leader in climate action, to the benefit of our clients, our stakeholders and society as a whole.”

[1] https://www.unpri.org/showcasing-leadership/leaders-group-2020/6524.article

Source: Candriam
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