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ODDO BHF Asset Management joins the Climate Action 100+ initiative
Paris, 4th April 2018
ODDO BHF AM has become a signatory of the Climate Action 100+ initiative. ODDO BHF AM has joined the list of signatories to take part in the joint effort among investors to promote dialogue with the 100 companies that are the world’s largest emitters of greenhouse gases.
Launched in December 2017, Climate Action 100+ is a five-year initiative to pressure those 100 companies to take action that is necessary to help reach international climate targets of limiting the rise in temperatures to less than + 2°C.
To date, 256 institutional investors and asset managers with more than USD 28 trillion in assets under management are already signatories. They include Australian Super, CalPERS, HSBC Global Asset Management, Ircantec and Manulife Asset Management, all of whom got this initiative off the ground.
As part of this joint commitment, ODDO BHF AM pledges to ask companies that it covers:
- to implement a solid governance framework that sets down clear lines of responsibility for management bodies in monitoring and managing climate change risks;
- to take measures to reduce greenhouse gas emissions throughout the value chain, in accordance with the Paris Agreement;
- to provide a detailed report allowing investors to assess the robustness of their business plans based on various climate scenarios, so they can make better informed investment decisions.
As a signatory, ODDO BHF AM thus reaffirms one of the major pillars of its ESG policy while stepping up its dialogue with companies. This pledge is part of the formalisation of its climate strategy published in late 2017, which has three pillars: measuring funds’ carbon intensity, developing dialogue with companies on climate-related issues, and qualitatively measuring the aligning of portfolios with long-term climate scenarios.
“This initiative confirms our commitment to strictly voluntary ESG approach”, said Nicolas Chaput, CEO and co-CIO of ODDO BHF ASSET MANAGEMENT. “We will continue and step up the process that we’ve already begun, as our main equity funds already include these criteria and our corporate bond fund will switch to ESG late in the first half of this year.”
=> Read more on ODDO BHF AM's to climate change approach
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