CANDRIAM divests from coal and tobacco
September 12, 2018

Multi-specialist asset manager CANDRIAM has announced that it will extend the scope of controversial activities exclusion for all its assets to thermal coal, tobacco and chemical, biological and white phosphorus weapons.

CANDRIAM's exclusion policy, which has been successfully implemented for nearly 20 years for SRI-invested assets, and which has enabled the company to become an industry leader in this field with EUR 30 billion in assets under management (AuM) on pure SRI strategies, is now extended to all the company's active, smart-beta, indexed and alternative strategies (EUR 113 billion as of June 30, 2018).

The new measure will be fully implemented by December 31 this year, says CANDRIAM, shorthand for Conviction AND Responsibility In Asset Management.

Naïm Abou-Jaoudé, CEO of CANDRIAM and Chairman of NYLIM International, said: "Excluding coal and tobacco from our mainstream investments is part of our commitment and shows our ambition of being a sustainability leader. Coal is the most polluting energy source and the first stranded asset in an energy transition pathway, while the harmful effects of tobacco are increasingly exposed. We recognize the important role asset managers play in tackling major global issues such as health and climate."     

CANDRIAM says it will introduce homogeneous exclusion thresholds for the full scope of its assets under management. The exclusion of thermal coal is based on an exposure level (direct and indirect) of maximum 10 percent. Furthermore, CANDRIAM says it will ban all companies launching new coal projects. Exclusion of tobacco targets manufacturers as well as their suppliers.     

Active in Sustainable and Responsible Investing (SRI) since 1996, CANDRIAM says it has built over the years one of the largest dedicated teams in Europe and the broadest range of SRI strategies in Europe. It says its strong commitment to SRI has led the company to always integrate ESG criteria throughout the investment processes of its mainstream products.

 





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Multi-specialist asset manager CANDRIAM has announced that it will extend the scope of controversial activities exclusion for all its assets to thermal coal, tobacco and chemical, biological and white phosphorus weapons.

CANDRIAM's exclusion policy, which has been successfully implemented for nearly 20 years for SRI-invested assets, and which has enabled the company to become an industry leader in this field with EUR 30 billion in assets under management (AuM) on pure SRI strategies, is now extended to all the company's active, smart-beta, indexed and alternative strategies (EUR 113 billion as of June 30, 2018).

The new measure will be fully implemented by December 31 this year, says CANDRIAM, shorthand for Conviction AND Responsibility In Asset Management.

Naïm Abou-Jaoudé, CEO of CANDRIAM and Chairman of NYLIM International, said: "Excluding coal and tobacco from our mainstream investments is part of our commitment and shows our ambition of being a sustainability leader. Coal is the most polluting energy source and the first stranded asset in an energy transition pathway, while the harmful effects of tobacco are increasingly exposed. We recognize the important role asset managers play in tackling major global issues such as health and climate."     

CANDRIAM says it will introduce homogeneous exclusion thresholds for the full scope of its assets under management. The exclusion of thermal coal is based on an exposure level (direct and indirect) of maximum 10 percent. Furthermore, CANDRIAM says it will ban all companies launching new coal projects. Exclusion of tobacco targets manufacturers as well as their suppliers.     

Active in Sustainable and Responsible Investing (SRI) since 1996, CANDRIAM says it has built over the years one of the largest dedicated teams in Europe and the broadest range of SRI strategies in Europe. It says its strong commitment to SRI has led the company to always integrate ESG criteria throughout the investment processes of its mainstream products.

 



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