L'investissement Responsable
We are convinced that the more a firm integrates sustainable development into its core-business strategy, the better are its long-term development perspectives. The way we invest reflects this conviction.
We privilege a field-anchored extra-financial analysis which takes into account the characteristics of each activity sector. Thanks to a dualistic integrated process, we aim at selecting the firms which present the best potentialities both in terms of performance and CSR profile. Thus, as an investor, we encourage and participate to a more virtuous capitalist circle.

We are particularly interested in the CSR management control and reporting systems developed by the firms to fulfil both the economic and ESG requirements.

- Environment
- Human Resources and Human Rights
- Corporate Governance
- Community Involvement and Business Behaviour







MACIF Gestion is a member of Eurosif, the European Forum for Socially Responsible Investment.

As such, we are signatories of the Eurosif Transparency Code, which provides investors with an overview of MACIF Gestion SRI practices and policies.




Code de transparence Eurosif

Company Governance
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Evaluation fields for the "Company Governance" criterion

An independent and competent Board of Directors:

  • Independence and competence of members of the Board of Directors and of all Committees (Nomination, Audit, Remuneration)
  • Separation of function between Chairman and Chief Executive Director
  • Operation of the Board of Directors.

Transparent and appropriate remuneration policies for executive directors:

  • Use of precise criteria for executive remuneration
  • Existence of terms and conditions for incentive payments.

Relevant and effective internal control systems and audits:

  • Operation of the Audit Committee
  • Independence of external auditors
  • Exhaustive cover of risks by the internal control system.

Sustainable shareholders relationships :

  • No voting rights restrictions
  • No existence of anti takeover devices
  • Facility of access to Annual General Meetings for shareholders.
Environment
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Evaluation fields for the "Environment" criterion

Environmental policy of companies

  • Environmental strategy of the Group
  • Environmental management system and control by an independent third party;
  • Eco-design
  • Impact on biodiversity when sites are established.

Environmental impact of production processes

  • Energy consumption
  • Atmospheric emissions
  • Water consumption
  • Déchets,
  • Waste and Water pollution (soil, rivers, seas)
  • Local pollution (noise, dust, etc.)

Environmental impact of products/services when put on the market

  • Impact from of the use of products/services by clients (client awareness)
  • Impact from the disposal of products/services (recycling).
Human Resources
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Evaluation fields for the "Human Resources" criterion

Relations between employers and staff within the company:

  • PSocial dialogue
  • Employee participation

Working conditions of employees:

  • Health and safety policies
  • Management of working hours
  • Remuneration policy
  • Training policy
  • Career management
  • Responsible management of restructurings

Respect for human rights:

  • Respect of human rights
  • Diversity and non-discrimination
Social
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Evaluation fields for the "Social" criterion

Relationships with clients:

  • Product/service safety
  • Complete, transparent information on the product/service characteristics
  • Contractual relationships with clients.

Relationships with suppliers:

  • Sustainable relationships with suppliers
  • Integration of social and environmental factors into the supply chain.

Behaviour on the market place:

  • Corruption
  • Anti competitive practices.

Relationships with civil society:

  • Impact of product/service on communities
  • Relationships with communities
  • Contribution to general interest causes