Candriam reaches all-time high AUM and announces carbon neutrality

Candriam today reports its half-year activities and business performance for 2019. It continues its growth trajectory, reaching an historic high of €125 billion in assets under management by the end of June 2019, coming from €65bn in 2014. Candriam also today announces its carbon neutrality with immediate effect as a testament to its commitment and ambition to expand its efforts as a leader[1] in sustainability within the asset management space.

All-time high assets under management

AuM increased by €10.3 billion during the first half of 2019, from €115 billion at the end of December 2018 to €125.3 billion by 30 June 2019.

Candriam witnessed the highest inflows into its Emerging Markets Debt (€900 million) and High Yield & Credit Arbitrage (€850 million) strategies.Other top selling strategies included Thematic Equity (€500 million) and Corporate Bonds (€300 million). A substantial part of Net New Cash also comes from products or mandates with an Environmental, Social and Governance (ESG) approach, confirming Candriam's momentum in responsible investment in recent years. Pure ESG funds and mandates now exceed one third of Candriam's total assets.

In the first half of 2019, Candriam continued to extend its leadership in the responsible finance space with the development of new thematic products that aim to have a direct positive impact on society, such as a new strategy focused on the fight against cancer and a new strategy centred on companies developing business models to tackle global warming and reduce the impact of climate change. Candriam also donates part of the revenues from its responsible investment fund range to ESG research and education and social impact initiatives.

Reducing global carbon footprint

Five years ago, Candriam defined a proactive strategy to reduce the environmental impact of its operational activities. While the company has doubled in size ever since, it has reduced the CO2 emissions of its vehicle fleet, put in place green energy contracts for its buildings and delivered around 50% reduction in the carbon footprint of its paper consumption. With initiatives such as digitalisation (visio/audio conferencing) Candriam aims to raise awareness and even further reduce its weighted carbon footprint.

Offsetting the remaining emissions

From today onwards, in order to achieve its objective of carbon neutrality, carbon emissions generated by Candriam for its business will be offset. This will include scope 1 emissions (fuel, mainly vehicles), scope 2 emissions (energy for buildings) plus business travel as well as supplier related emissions (as part of scope 3).

Candriam has chosen to partner with sustainability financing solutions provider South Pole in order to offset an estimated total of 9,400 tonnes of annual CO2 emissions. South Pole will invest in carbon offsetting projects such as reforestation, renewable energy and energy efficiency schemes on Candriam's behalf. These projects have all achieved certificiation from the Gold Standards for Global Goals, a standard created by the World Wide Fund for Nature, several NGOs, academics and private-sector players, which quantifies project impact in line with the UN's Sustainable Development Goals.

Candriam's commitment to sustainable and responsible investment takes many different forms. More detailed information can be found in the 2018 Candriam Corporate Social Responsibility Report.

[1] Candriam reached the 33rd rank of the FBF50 in 2019 (Broadridge-Mackay Williams – Fund Buyers) – its best ranking to date. Fund Buyers have ranked Candriam in the top 3 of ESG providers for the last 3 years.