Socially responsible investing is slowly finding its way into private banks
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Socially Responsible Investing (SRI) has invaded the world of asset management. As for savers, they are increasingly sensitive to the impact of their investments, even if profitability remains their primary concern. “Before the pandemic, two-thirds of our clients feared that favoring ESG criteria [environnementaux, sociaux et de gouvernance] compromise performance, notes Anne Pointet, Deputy Managing Director of BNP Paribas Wealth Management. Two years later, it’s the opposite! »
It must be said that the financial markets have been buoyant for this type of security in recent years. “Some major fund managers now only invest in these stocks, which supports their performance and, conversely, disadvantages the share price of the least virtuous companies”notes Nicolas Hubert, CEO of Milleis Banque.
According to Swiss Life Banque Privée, more than a third of wealthy French people already own SRI-labeled funds. And if the younger generations are particularly concerned about environmental issues, in particular, bankers note a diffusion of this sensitivity in all strata of their clientele. “It has long been said that it was the prerogative of the younger generations, but this is no longer true today, believes Edouard de Saint Pierre, Managing Director France of Lombard Odier. Grandparents are challenged by their grandchildren. »
As many approaches as houses
In this regard, not all establishments are at the same stage. Most offer alternatives to their traditional mandates, integrating ESG criteria. There are as many approaches as there are houses. At Bordier, the mandates are managed in securities directly, the manager therefore excludes the worst performers on ESG criteria.
For its part, the private bank of BNP Paribas favors thematic funds, in particular on inclusive growth or sustainable food. “These products respond well to investors’ expectations, because they make it possible to embody convictions, emphasizes Anne Pointet. Their assets have quadrupled since 2018 within our management company. »
Lombard Odier has chosen to focus on the environmental aspect for its sustainable investments. “In addition to being certified B Corp [certification attribuée par une ONG américaine aux entreprises commerciales répondant à des critères sociaux et environnementaux]we have partnered with a chair at Oxford University to establish our method of analyzing companies, reports Edouard de Saint Pierre. We judge the trajectory of companies according to the climate commitments they have made for 2030-2050 and this allows us to establish an impact indicator, which weights our financial indicator, in greater or lesser proportions according to customer wishes. »
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