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Ecofi Investissements

PRI reporting framework 2017

You are in Direct - Listed Equity Active Ownership » Engagement

Engagement

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.

01.2. Indicate what your engagement policy covers:

          Business Ethic
        

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

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 support investment decision-making
        

Collaborative engagements

Service provider engagements

          To support investment decision-making
        

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. 


Process

Process for engagements run internally

LEA 03. Process for identifying and prioritising engagement activities

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

03.1. Indicate whether your organisation has a formal process for identifying and prioritising engagement activities carried out by internal staff.

03.2. Describe the criteria used to identify and prioritise engagement activities carried out by internal staff.

03.3. Additional information. [Optional]


LEA 04. Objectives for engagement activities

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

04.1. Indicate if you define specific objectives for your engagement activities.

04.2. Indicate if you monitor the actions that companies take following your engagements.

04.3. Indicate whether your organisation defines milestones and goals for engagement activities carried out by internal staff.

04.4. Indicate if you do any of the following to monitor and evaluate the progress of your engagement activities carried out by internal staff.

04.5. Additional information. [Optional]


Process for engagements conducted via collaborations

LEA 05. Process for identifying and prioritising collaborative engagement

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

05.1. Indicate whether your organisation has a formal process for identifying and prioritising collaborative engagements

05.2. Describe the criteria used to identify and prioritise collaborative engagements

05.3. Additional information [Optional]


LEA 06. Objectives for engagement activities (Not Completed)


Process for engagements conducted with/on your behalf by service providers

LEA 07. Role in engagement process

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

07.1. Indicate if you play a role in the engagement process that your service provider conducts on your behalf.

07.2. Indicate the role(s) you play in engagements that your service provider conducts on your behalf.

07.3. Additional information. [Optional]

Ecofi Investissements writes letters to the president and CEO of the companies it wants to dialogue with, asking for a meeting with the top management and the persons in charge of the specific ESG issues we are willing to discuss. The broker Exane supports Ecofi investissements during the process of individual engagement, by setting up meetings, preparing the questions and evaluating the quality of companies responses.


LEA 08. Monitor / discuss service provider information

08.1. Indicate whether you monitor and/or discuss the following information provided to you by your service provider

Please select all that apply

08.2. Additional information. [Optional]

Exane supports Ecofi alongside the whole individual engagement process.


General processes for all three groups of engagers

LEA 09. Share insights from engagements with internal/external managers

09.1. Indicate if insights gained from your engagements are shared with your internal or external investment managers.

Type of engagement

Insights shared

Individual/Internal staff engagements

Collaborative engagements

Service provider engagements

09.2. Additional information. [Optional]


LEA 10. Tracking number of engagements

10.1. Indicate if you track the number of engagements your organisation participates in.

Type of engagement
Tracking engagements

Individual / Internal staff engagements

Collaborative engagements

Service provider engagements

10.2. Additional information. [OPTIONAL]

We publish a Report on our engagement actions, uploaded in http://www.ecofi.fr/fr/file/1027/download?token=fOQlT7k58cYmfIRnKYocgDpGtPIk7a6z9Fq9IJoFoPs


Outputs and outcomes

LEA 11. Number of companies engaged with, intensity of engagement and effort (Private)


LEA 12. Engagement methods (Private)


LEA 13. Engagements on E, S and/or G issues (Not Applicable)


LEA 14. Companies changing practices / behaviour following engagement (Private)


LEA 15. Examples of ESG engagements (Private)


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