BNPP AM is an active owner. We are thoughtful and diligent investors in companies, and have detailed proxy-voting and engagement guidelines on a range of ESG issues. We believe that meaningful engagement with issuers can enhance our investment processes and better enable us to successfully manage long-term risk for our clients.
Our portfolio managers and experts in our Sustainability Centre are in regular contact with investee companies, in order to emphasize long-term value creation.
We collaborate closely with our peers and civil society organisations to formulate and communicate our vision in order to make a positive difference to people's futures. We work closely with other investors so that we can better accompany the companies we invest in on their own sustainability journeys, for example through our participation in the Climate Action 100+ initiative (see below, where we outline our Stewardship Strategy).
As part of our ongoing dialogue with the companies in which we invest, our priority is to promote good governance practices. This include a focus on the creation of long-term shareholder value; the protection of shareholder rights; an independent and efficient board structure; and the alignment of incentive structures with the long-term interests of stakeholders.
In terms of Stewardship and Active Ownership, we have a complete set of policies:
- a Proxy Voting Policy
- a Stewardship Policy
- a Public Policy Stewardship Strategy
We use the services of proxy voting providers ISS, with voting research and a voting platform on all companies, and Proxinvest, providing research on French companies only. While proxy voting providers are used to help us with the analysis of general meetings, BNP Paribas AM will take each voting decision for every shareholder's meeting internally with no outsourcing of the final decision.
We also use the services of external providers to provide us with inputs (indicators, research, etc.) on ESG factors. All stewardship activities related to engagement, monitoring and voting are integrally and exclusively carried out internally (although we do actively collaborate with other investors and as a part of collaborative initiatives).