French asset manager Amundi aims to have environmental, social, and governance (ESG) analysis integrated across all its funds and voting practices by 2021.
The firm’s three-year ESG plan will require all actively managed funds to offer ESG performance above the ESG rating of their benchmark indices or universes.
“Open funds incorporating ESG that are available to retail investors will, as a result, increase to around €250bn over the next three years. ESG assets under passive management will double to at least €70bn,” Amundi said in a statement.
Shareholder engagement and voting at company annual general meetings will systematically include ESG analysis, the announcement said.
The plan also includes an ESG advisory service for its institutional clients to support them in their development initiatives.
Amundi will also increase thematic funds to €20bn to double to amounts invested to initiatives related to the environment and with a strong social impact.
The Paris headquartered group will also increase investments in the social and solidarity economy by €300m to €500m.
Amundi chief executive, Yves Perrier said responsible investment was one of the company’s founding pillars.
“This was based on two convictions: the responsibility companies and investors have to society, and that this is a guarantee of long term financial performance,” he said.
“This three-year plan extends our commitment to responsible investment and anticipates the expectations of our clients.”