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AXA Investment Managers

PRI reporting framework 2020

Export Public Responses

You are in Direct - Listed Equity Active Ownership » Outputs and outcomes

Outputs and outcomes

LEA 09. Number of companies engaged with, intensity of engagement and effort

Indicate the proportion of companies in your listed equities portfolio with which your organisation engaged during the reporting year.
We did not complete any engagements in the reporting year.

Number of companies engaged

(avoid double counting, see explanatory notes)

Proportion of companies engaged with, out of total listed equities portfolio

Individual / Internal staff engagements


Collaborative engagements


09.2. Indicate the breakdown of engagements conducted within the reporting year by the number of interactions (including interactions made on your behalf).

No. of interactions with a company
% of engagements
One interaction
2 to 3 interactions
More than 3 interactions

09.3. Indicate the percentage of your collaborative engagements in which you were the leading organisation during the reporting year.

Type of engagement

% leading role
  Collaborative engagements

09.5. Additional information. [Optional]

LEA 10. Engagement methods

10.1. Indicate which of the following your engagement involved.



10.2. Additional information. [Optional]

We do not consider that one form of engagement is better than another but rather that each form of engagement has their merits and ways in which they can be useful.

We may consider that a meeting with board directors or senior management is the best way to address the objectives of an engagement or similarly we might consider that a written letter or e mail to the company could be a good initial step to initialise a conversation.

Should a course of engagement not meet our desired expectation or outcomes, we may consider escalating, for instance if the response to a letter written does not meet the desired outcome, we may consider setting up a meeting with the board or senior management.

LEA 11. Examples of ESG engagements

11.1. Provide examples of the engagements that your organisation or your service provider carried out during the reporting year.

ESG Topic
Climate Change
Conducted by

- Commit to short-, mid- and long-term carbon emissions reduction targets that are based on climate science. There should be a clear explanation of corresponding capital expenditure plans

- Perform scenario analysis using a scenario where global warming is limited to the Paris Agreement goal of well below 2˚C

- Align executive remuneration to climate change objectives

Scope and Process

As an integral part of Climate Action 100+, we engaged in collaborative manner with different sectors as Oil&Gas or mining. Dialogue focused on conducting climate scenario planning, ensuring lobbying practices are aligned with climate goals and establishing clear coal exit roll-out plans.

We made tangible progress in our engagements and we are seeing corporates taking more decisive steps in identifying targets and establishing metrics disclosure.

ESG Topic
Conducted by

pressing companies to proactively seek gender equality at every level of the corporate hierarchy. We urged tailored policies, culture-specific programmes, and granular performance reporting alongside a clear tone from the top of the organisation on diversity and inclusion. These are key to closing the gender pay gap.

Scope and Process

In 2019, we had discussions around gender diversity with 32 companies. We also actively participated in collaborative industry initiatives such as the 30% Investor Club in the UK and the Workforce Disclosure Initiative.

2019 was a year of promise. We encountered more companies than ever before accepting the growing evidence that gender equality leads to better corporate performance.

ESG Topic
Health and Safety
Conducted by

Many companies have implemented relevant policies and programmes to deal with these issues, but it is often unclear the extent to which these are meaningfully overseen by senior executives and the board. Also, the disclosure of relevant and granular performance data remains weak. These need reform.

Scope and Process

We engaged with 22 pharmaceutical companies in 2019. We had several discussions with management and, notably, with the non-executive board director in charge of overseeing the committee for product quality and safety.

These discussions provided important insights into the responsibilities and the active role the directors play on this issue. We were also able to see how the company was responding to engagement and strengthening its practices.

ESG Topic


Conducted by

Species are becoming extinct at an unprecedented rate. As well as the broader impact of climate change, a notable driver has been damage from corporate practices. At the same time, companies are being harmed by the loss of biodiversity. 

Scope and Process

Companies have incorporated different levels of integration of biodiversity issues in their business practices. We strongly encourage all companies to measure and monitor their impact and dependencies on biodiversity.

In 2019 we held dialogues on this issue with 33 companies across a range of sectors. On the whole, the response was positive, and discussions were constructive. Several companies have indicated to us they were willing to commit more publicly to addressing biodiversity issues. 


11.2. Additional information. [Optional]