Responding to the climate challenge requires decarbonizing all financial flows, the key word being \u00ab\u00a0all\u00a0\u00bb. While it has not yet found a solution nor acquired the necessary tools to decarbonize its ETFs, Amundi, a Cr\u00e9dit Agricole subsidiary, is pursuing an aggressive strategy aimed at increasing its passive management. On January 1 2022, assets under management not covered by Amundi’s coal policy rose by 84% with its takeover of Lyxor, which is heavily involved in this type of management. In the report Amundi: Our investigation into Europe\u2019s biggest investor<\/a>,<\/span><\/u> we took stock of this threat and identified possible solutions. Amundi reacted by responding to our concerns in various articles, going so far as to state its complete disagreement with the substance of the demands made. We are responding in turn.<\/b><\/span><\/p>\n<\/div><\/div><\/div> A<\/span>mundi highlights its ESG funds to respond to criticism of its passive management.<\/b><\/span> It says the Lyxor takeover is not problematic for the climate because Lyxor’s ESG ETFs will apply Amundi’s coal policy and because Amundi will have 40% ESG ETFs in 2025:<\/span><\/p>\n Amundi highlights its good voting practices and defends gradual engagement activities to support companies that are making progress. The example of Glencore, a company excluded from its active funds but still present in the passive ones, is given by Amundi:<\/p>\n Amundi says it does not want to stop supporting energy companies in their transition.<\/b><\/span> It highlights its policy to engage the sector as well as its policy on unconventional fossil fuels:<\/span><\/p>\nA bit of ESG does not replace full coal exclusion<\/span><\/span>\u00a0<\/span><\/h1><\/span>
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Amundi votes in favor of coal expansion<\/h1><\/span>
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Amundi supports oil and gas expansion in the name of transition<\/p><\/h1><\/span>
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