The head of Europe’s largest asset manager is on a mission to combat climate change.
Yves Perrier grew up near the alpine ski resort of Chamonix, in southeastern France. On return trips over the years, he has seen the glaciers recede as temperatures rise.
The striking effects factored into Perrier’s decision to have all of Amundi’s actively managed funds take environmental, social, and governance matters into account by 2021. The fund manager says it will put its money where its mouth is, backing companies that contribute to areas such as clean energy, fair and equal employment practices, and sustainable management, while eschewing those that don’t.
Moreover, Amundi recently agreed to manage a European equity index fund aligned with the Paris Agreement for 12 institutional investors. The fund will invest in companies contributing to the fight against global warming by reducing carbon intensity, and exclude tobacco, coal, and other environmentally damaging industries.
Perrier is marshaling Amundi’s immense scale and deep pockets — it managed close to 1.7 trillion euros in assets at last count — to pressure companies to go green, blazing a trail for other investors to follow.