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You are in Direct - Listed Equity Active Ownership » Outputs and outcomes
Number of companies engaged
(avoid double counting, see explanatory notes)
Individual / Internal staff engagements
Type of engagement
As a small asset management in terms of AUM, we couldn't take any leading role in any collaborative engagement even if we 've been part of the "Non Disclosure Campaign".
In the case of any controversy appearing for companies that we hold in our portfolio, we have a clear process of evaluation of the controversy, further discussion with the company and after the overall process has been implemented, the investment decision is taken regarding the size of the investment.
Beyond our direct ESG engagement in place for many years, we carried out in 2019 a thematic engagement across the companies we engaged regarding the measures put in place in order to reduce CO2 emissions and the measures taken in order to respect the 2° alignement with the COP21. METROPOLE Gestion has started to emphasize specifically from the beginning of 2019, as a signatory of the TCFD, to strenghten its engagement on climate related risks and opportunities. METROPOLE gestion has started also a collaborative engagement with investors gathered by the CDP, "The non Disclosure Campaign" in order to prompt companies to better disclose on those matters.
Regarding CO2 emissions, the direct dialogue in place for many years, lead to the result that more than 91% of the companies held in our portfolios have objectives of reduction within a specific timeframe. For the 9% remaining and after no progress at all for these companies, we decided to sell them.
For the companies having targets of reduction on CO2 emission, we focused part of the engagement on the measures used for CO2 emissions (Scope 1,2,3) and the validation of these measures by the SBTi ( Science Based Target initiative)
59% of the companies we engaged with, publish only scope 1 and 2 and 41% have scope 3 objectives.
Regarding the use of SBTi for validation of the measurement, only 28% used it. This has been confirmed through our collective engagement with the CDP where 27% of the companies only use the SBTi validation.