Ecofi Investissements strengthens RI voting policy

French asset management boutique Ecofi Investissements has bolstered its responsible investment voting policy through a number of amendments.

Regarding remuneration practices, the manager favours companies that publish enough detailed information on financial and extra-financial indicators on which rely variable remuneration and asks for the inclusion of social and environmental performances criteria within remuneration policies.

Additionally, it considers more favourably remuneration policies in which the pay ratio (ratio between the highest and the median salary in a company) is published and it requires from companies not to rise the salaries of corporate officers in the event of a significant lay-off plan.

As for dividend policies, Ecofi Investissements will oppose to resolutions when proposed dividends will appear excessive in regard to the results achieved by the firm. The boutique argues that a non-balanced dividend policy could reveal a short-term focused management philosophy.

Another layer of amendments to Ecofi Investissements’s responsible investment voting policy deals with diversity. The manager will consider companies’ board member appointments or renewals with the aim of reaching a gender parity level at least equal to 30%. Moreover, in Ecofi Investissements’s view, specialised committees must be composed for a third of independent members at least.

Lastly, Ecofi Investissements will be opposed to the renewal of a company administrator if the firm finds itself involved in serious controversies during the administrator’s last mandate, at the exception of an eventual public opposition of the concerned administrator.

ABOUT THE AUTHOR
Adrien Paredes-Vanheule
Adrien Paredes-Vanheule is French-Speaking Europe Correspondent for InvestmentEurope, covering France, Belgium, Geneva and Monaco. Prior to joining InvestmentEurope, he spent almost five years writing for various publications in Monaco, primarily as a criminal and financial court reporter. Before that, he worked for newspapers and radio stations in France, in particular in Lyon.

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