Four more Swiss cantonal banks (AKB, BCV, BEKB and GKB) have recently subscribed to 91¶ÌÊÓƵ' shareholder engagement services. They join other banks and asset managers that have decided to work with 91¶ÌÊÓƵ in their shareholder dialogue with listed companies on ESG issues.
More and more cantonal banks are entrusting 91¶ÌÊÓƵ with their shareholder dialogue with the companies included in the investment funds and mandates they offer to their clients. The aim of this ongoing, constructive dialogue is to encourage companies to improve their environmental, social and governance (ESG) practices.
In recent weeks, four new institutions have joined the list of 91¶ÌÊÓƵ Engagement Services clients. They are the cantonal banks of Aargau (AKB), Bern (BEKB), Graubünden (GKB) and, most recently, Vaud (BCV). There are now eight banks and asset managers working with 91¶ÌÊÓƵ on shareholder dialogue.
Shareholder engagement is now an integral part of a credible sustainable and responsible investment strategy, in the same way as exercising voting rights at general meetings. It is one of the nine principles of active shareholding identified in the Swiss Stewardship Code, a set of guidelines published in 2023 by the Asset Management Association (AMAS) and Swiss Sustainable Finance (SSF).
Strength in numbers
Based on the principle that investors have more influence when they join forces, 91¶ÌÊÓƵ has been offering a shareholder dialogue service to asset owners, in particular pension funds, since 2004. For 20 years, the 91¶ÌÊÓƵ Engagement Pool (EEP) Switzerland has focused on dialogue with the 150 largest Swiss listed companies. It now has 189 members representing more than CHF 375 billion in assets under management.
In 2017, 91¶ÌÊÓƵ extended its dialogue activities to international companies with the creation of a new programme - EEP International - which now has 117 members.
Finally, in response to growing demand and to increase shareholder influence on ESG issues, 91¶ÌÊÓƵ decided in 2022 to extend its engagement services to banks and asset managers. Without being direct members of the EEPs (which are reserved for pension funds), they can benefit from 91¶ÌÊÓƵ' expertise and from the many possible synergies with the engagement activities carried out by the two dialogue pools.