Press release

Paris, 26 september 2022 – OFI AM has announced new measures on the oil and gas sector. OFI AM will no longer buy bonds from heavyweights such as Shell, BP, Repsol and Equinor, and will engage all portfolio companies to stop developing oil and gas supply projects (1). Reclaim Finance welcomes the significant progress made since its first policy in 2020, and calls on Amundi and other asset managers to follow the lead. This is the first time an asset manager has so clearly used its bond power to push back on fossil fuel expansion, while trying to influence the companies’ transition pathways through its equity holdings.


  1. OFI AM will continue to invest in TotalEnergies and Eni but will exclude them if they have not stopped their oil activity and adopted a satisfactory climate strategy by 2027.