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Ecofi Investissements

PRI reporting framework 2017

Basic Information [OO 01 - 09] Gateway asset class implementation indicators [OO 10 - 12]

Investment policy [SG 01 - 04] Objectives and strategies [SG 05 - 06] Governance and human resources [SG 07 - 08] Promoting responsible investment [SG 09 - 11] Implementation not in other modules [SG 12 - 16] Innovation [SG 17]

Direct - Listed Equity Active Ownership

Engagement [LEA 01 - 16] Process [LEA 03 - 10] Process for engagements run internally [LEA 03 - 04] Process for engagements conducted via collaborations [LEA 05 - 06] Process for engagements conducted with/on your behalf by service providers [LEA 07 - 08] General processes for all three groups of engagers [LEA 09 - 10] Outputs and outcomes [LEA 11 - 15] Communication [LEA 16]

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Overview

LEA 01. Description of approach to engagement

New selection options have been added to this indicator. Please review your prefilled responses carefully.

01.1. Indicate whether your organisation has a formal engagement policy.

Yes

01.2. Indicate what your engagement policy covers:

Conflicts of interest

Prioritisation of engagements

Transparency

Environmental factors

Social factors

Governance factors

Engagements following on from decisions

Other, describe

          Business Ethic

None of the above

01.3. Attach or provide a URL to your engagement policy. [Optional]

URL http://www.ecofi.fr/sites/default/files/files/Politique_de_vote_Ecofi_Investissements.pdf

Attach document

01.4. Provide a brief overview of your organization’s approach to engagement

Ecofi Investissements approach engagement activity in order to influence companies to adopt environmental, social and governance more responsible practices.

We believe that engagement is complementary to SRI management in order to protect the long term interest of our investments and therefore of our customers. Besides, this is a way for increasing the awareness on ESG issues among companies we are investing in.

Our main engagement activities are:

1- Vote at Annual General Meetings:

We vote in all countries and industries. Exceptionally, Ecofi may not be able to ensure effective voting for some or all of the positions held in a company because of some share-blocking practices in specific countries. In 2016 we have voted at 339 AGMs about 5294 items.

We have a high rate of against voting: the average rate of against voting in 2016 by Ecofi Investissements has been 45%.

2- Dialogues with companies:

- Individual dialogue with companies facing serious ESG controversies;

- Collective dialogue (alongside with other investors) on major ESG issues.

01.5. Additional information [optional]

http://www.ecofi.fr/fr/file/1027/download?token=fOQlT7k58cYmfIRnKYocgDpGtPIk7a6z9Fq9IJoFoPs

LEA 02. Reasoning for interaction on ESG issues

02.1. Indicate the method of engagement, giving reasons for the interaction.

Type of engagement	Reason for interaction
Individual/Internal staff engagements	To influence corporate practice (or identify the need to influence) on ESG issues To encourage improved/increased ESG disclosure Other, specify To support investment decision-making We do not engage via internal staff
Collaborative engagements	To influence corporate practice (or identify the need to influence) on ESG issues To encourage improved/inreased ESG disclosure Other, specify We do not engage via collaborative engagements
Service provider engagements	To influence corporate practice (or identify the need to influence) on ESG issues To encourage improved/increased ESG disclosure Other, specify To support investment decision-making We do not engage via service providers

02.2. Additional information. [Optional]

Collaborative engagement is mainly achieved with the following organisations: PRI, FIR, Cordia, Phitrust.

Individual engagement is realised by the SRI Research team which is supported by the broker Exane. The activity is focused on companies which face major controversies (level 4 controversies according to Sustainalytics' rating) which are invested by our funds.

Since 2012, we engaged on an individual basis with 25 companies.

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