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AXA IM Steps Up Stewardship Activity on ESG

French firm AXA Investment Managers (IM) increased its engagement activity with investee companies with a twofold leap in engagements in 2022, according to its latest stewardship report. AXA IM conducted 596 engagements with 480 companies last year, compared to 283 engagements with 245 companies in 2021. Climate change (28%) remained the largest area of engagement in 2022 for the firm, while biodiversity-linked activity recorded a sharp increase (18%), with the progressive rollout of its strengthened Deforestation and Ecosystems Protection Policy. The firm’s ESG expectations are “reinforced” ahead of the 2023 voting season, with new recommendations in its voting policy relating to governance of sustainability. “Against a tumultuous backdrop that has seen misgivings about the case for environmental, social and governance investing in certain parts of the world, we believe it is now more important than ever to influence company behaviour through effective and robust stewardship,” said Marco Morelli, Executive Chairman at AXA IM. ““When we engage with investee companies, we act with conviction and put great emphasis on achieving positive and specific ESG outcomes on behalf of our clients. If the response or outcome is unsatisfactory, we have robust frameworks in place and are not afraid to take decisive action.” 

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