Principles of engagement
We have adopted the principles published by major international investors and the associations of which we are members, including the International Corporate Governance Network (ICGN) and the French Asset Management Association (Association française de la gestion financière – AFG). We are members of these associations.
The framework of our action is defined in our responsible investor charter which is based on the principles of excellence, transparency, long term action, dialogue and independence.
We focus our shareholder engagement policy around the three themes of ESG: Environment, Social and Governance.
■ Consideration of environmental issues within the corporate strategy
■ Environmental reporting: communication of consumption thresholds of electricity/water and measurement of CO₂/waste production
■ Independent external auditing
■ Setting targets to be achieved, in particular within the framework of the United Nations 2 Degrees Scenario
■ Monitoring the achievement of these targets
■ The risks to public health
■ Taking social issues into account in the company’s development strategy
■ Safety at work
■ Well-being of employees
■ Development of relations with stakeholders (suppliers, customers, civil community, etc.)
■ The development of solidarity projects:
→ Development of actions through foundations and grants from associations
→ Creation of products adapted to the needs of the poorest
■ The rights of shareholders in general shareholders meetings: based on the principle of “one share – one vote”
■ The management of corporate or supervisory boards: separation of powers, independence of the board and respect for the rights of minorities
■ The association of directors and employees in the capital: transparency and fairness of remuneration
■ The distribution of results and the use of own funds: sound management of own funds
■ The accounts and management approval: integrity of accounts and information
■ The shifts in the share capital : justified and equitable capital transactions proposed to the shareholders
Phitrust, along with the investors of the Phitrust Active Investors France fund, has sent written questions to the executive boards of 34 companies listed on the CAC40 index in preparation of their 2018 Annual General Meetings, encouraging their participation in the Science Based Targets initiative.
The government has launched a mission on “business and general interest”. Jean-Dominique Senard and Nicole Notat have two months to submit their report containing proposals to redefine the role and missions of companies
Proxinvest published its 21st Report on General Meetings and Shareholder Activism. Since its founding in 1995, Proxinvest has never witnessed such a contentious proxy season in France.