Throughout its history, CIAM has placed significant emphasis on identifying listed European companies with specific corporate governance issues that have negatively impacted their share value. In more recent years, CIAM has also increased its focus on environmental and social considerations, integrating ESG across the investment process.
CIAM firmly believes that considering environmental, social and governance factors is crucial for sustainable management and must influence investment decisions, particularly in the analysis process and in the risk assessment, to promote the long-term financial and non-financial interests of investors.
CIAM was one of the first European investors to leverage active and responsible engagement, ready to intensify its actions when necessary. Since 2013, CIAM has focused on corporate governance as a catalyst for change and shareholder value creation. From 2020 onwards, CIAM has broadened its analyses to include additional extra-financial criteria, such as environmental and social factors. Failure to consider ESG criteria is seen by CIAM as potentially leading to reputational, economic, and regulatory risks for companies.
CIAM has developed a Responsible Investment Policy, a Shareholder Engagement Policy, and a Voting Policy. These policies are updated annually and describe the ESG process we implement.
CIAM acknowledges that its ESG policy is part of an ongoing, long-term process that will evolve over time to reflect changes in industry best practices and internal processes. This commitment ensures that CIAM continues to meet and exceed its objective of being a responsible investor.
CIAM has been a signatory to the Principles for Responsible Investment (PRI) since 2020. The PRI provides a framework of aspirational investment principles that guide signatories in integrating ESG issues into their investment practices.
CIAM has been as member of the worldwide PRI Hedge Fund Advisory Committee since 2023.
CIAM has been a signatory to the CDP (formerly Carbon Disclosure Project) since 2018 and participates in its engagement campaigns.
CDP is a not-for-profit charity overseeing the global disclosure system for investors, companies, cities, states, and regions to manage their environmental impacts. The global economy considers CDP to be the gold standard of environmental reporting, with the richest and most comprehensive set of data on the actions of companies and cities.
CIAM has been a member of the AFG's Corporate Governance Commission since 2019. Its aim is to promote and defend the interests of third-party portfolio management professionals. Since 1998, the commission has been publishing regularly updated recommendations on corporate governance to guide members and management companies in exercising their voting rights.
In 2021, CIAM was part of the AFG committee that responded to the public consultation launched by EFRAG on the standardization of ESG reporting by issuers (ESRS).
CIAM continued its commitment to companies in 2023 by joining two initiatives, the Task Force on Climate Related Financial Disclosures (TCFD) and the UN GLOBAL COMPACT. CIAM wishes to follow the best market practices in terms of commitment and transparency, and is therefore committed to following the TCFD recommendations to the best of its ability. In addition, our commitment as a responsible investor leads us to produce a variety of extra-financial research throughout our investment process in order, ultimately, to engage with the companies in our portfolios when necessary. To this end, CIAM has joined forces with UN GLOBAL COMPACT to integrate their principles into our research process.