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Groupama Asset Management

PRI reporting framework 2020

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You are in Direct - Listed Equity Incorporation » ESG incorporation in actively managed listed equities » Implementation processes » (C) Implementation: Integration of ESG factors

(C) Implementation: Integration of ESG factors

LEI 08. Review ESG issues while researching companies/sectors

08.1. Indicate the proportion of actively managed listed equity portfolios where E, S and G factors are systematically researched as part of your investment analysis.

ESG issues

Proportion impacted by analysis
Environmental

Environmental

Social

Social

Corporate Governance

Corporate Governance

08.2. Additional information. [Optional]

Starting in 2003, Groupama AM developed an internal research methodology that systematically integrates an ESG approach into financial analysis.

In 2016 we have developed a proprietary and evolutive tool. This tool, called "NotesESG", collects all ESG data sent by ESG providers and then calculate internal ESG rating using our in-house ESG methodology. This tool is used by both fund managers and analysts.

In 2019 we worked :

1/ On extension of the coverage of ESG data and environmental data to worldwide

2/ On the implementation of new ESG quantitative ratings

2/ To continue to improve the calculation method

The proprietary tools combine ESG ratings and research are available to all Groupama AM portfolio managers . These tools - NotesESG© and AvisRecherche© display the results of ESG analyses by sector and by value.


LEI 09. Processes to ensure integration is based on robust analysis

09.1. Indicate which processes your organisation uses to ensure ESG integration is based on robust analysis.

09.2. Indicate the proportion of your actively managed listed equity portfolio that is subject to comprehensive ESG research as part your integration strategy.

09.3. Indicate how frequently third party ESG ratings that inform your ESG integration strategy are updated.

09.4. Indicate how frequently you review internal research that builds your ESG integration strategy.

09.5. Describe how ESG information is held and used by your portfolio managers.

09.6. Additional information. [Optional]

On the basis of the data from our ESG suppliers, we establish tables of quantitative data as a function of the ESG factors that we have determined internally from our qualitative analysis. So, for example, for each sector, we select and weight the criteria that we consider most relevant and substantial. This approach provides us with quantitative ratings over broad investment universes.  The qualitative and quantitative ESG data are made available to all Groupama AM portfolio managers . For example, managers are provided with the proprietary rating tools “NotesESG©” and “AvisRecherche©”, which enable them to view the macroeconomic fundamental research studies simultaneously, together with the E, S and G ratings. These tools provide input to our management tool SimCorpo Dimension. 


LEI 10. Aspects of analysis ESG information is integrated into

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

10.1. Indicate which aspects of investment analysis you integrate material ESG information into.

Proportion of actively managed listed equity exposed to investment analysis

Proportion of actively managed listed equity exposed to investment analysis

Proportion of actively managed listed equity exposed to investment analysis

Proportion of actively managed listed equity exposed to investment analysis

Proportion of actively managed listed equity exposed to investment analysis

10.2. Indicate which methods are part of your process to integrate ESG information into fair value/fundamental analysis.

10.4. Describe the methods you have used to adjust the income forecast/valuation tool.

With our fundamental financial and ESG analysis, we aim to identify the players that are best positioned or most at risk with regard to the three transitions – digital, demographic and environmental – that are currently causing upheaval in our societies.

Our approach is based on research that culminates in a single combined financial and ESG recommendation, with the identification of  :

1/the highest-risk issuers in terms of ESG, by means of the List of Major ESG Risks

2/the most advanced issuers in terms of ESG issues

Issuers are analysed according to six financial criteria and the three E, S and G pillars. Each ESG criteria leads to a rating from "Positive" to "Negative" opinion. E, S and G qualitative analysis is therefore integrated as a part of the fundamental analysis of an issuer. 

10.6. Additional information. [OPTIONAL]


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