A group of major French asset owners and asset managers has launched an expert group to develop a methodology for measuring the effectiveness of engagement, according to the Forum Pour l’Investissement Responsable. According to the statement, ERAFP and Fonds de Réserve pour les Retraites (FRR), two French asset owners involved in pension financing, have taken the lead of the initiative. Other asset manager and asset owner members of the taskforce include: AXA IM, Candriam, CDC Croissance, Edmond de Rothschild AM, Generali AM, MAIF, Malakoff Humanis and Sycomore. The group’s aim is to create standardised tools that can be used by asset owners when engaging with companies and by asset managers as part of their engagement reports. Commenting on the initiative, Pierre Devichi, Head of Socially Responsible Investing at ERAFP, said: “Engagement is an essential lever enabling responsible investors to exert an influence on the real economy. Unfortunately, it remains difficult to measure and assess, particularly in the absence of common terminology and practices.” Mickaël Hellier, Head of SRI at FRR, added: “Engagement is one of the major pillars of the FRR’s Responsible Investment Strategy, so as to translate principles into concrete achievements in corporate practices in terms of environmental preservation, social justice and balanced governance. It is therefore necessary to evaluate the achievement of this strategic focus.”
