Lettre à l’attention de Madame Valérie Baudson, directrice générale d’Amundi

Reclaim Finance criticizes Amundi for voting in favor of TotalEnergies' 'Say On Climate' plan despite its failure to align capital expenditures (CAPEX) with a 1.5°C trajectory. The letter highlights inconsistencies in Amundi's voting patterns across seven oil and gas majors, noting that Amundi approved plans for Repsol, TotalEnergies, and BP while rejecting those of Woodside Petroleum, Shell, and Equinor. Reclaim Finance argues that Amundi's current approach ignores the IEA Net Zero scenario, which mandates no new oil and gas fields, and calls for a systematized engagement policy that includes commitments to divest from companies continuing fossil fuel expansion.

• Amundi voted in favor of TotalEnergies' 'Say On Climate' plan despite the plan failing evaluations by the Climate Action 100+ investor group, specifically regarding the alignment of CAPEX with a 1.5°C trajectory.
• TotalEnergies is identified as the European company planning the most new oil and gas production projects, with 70% of its current investments directed toward oil and gas.
• Amundi's voting record for 2022 'Say on Climate' plans shows inconsistencies: it approved plans for Repsol, TotalEnergies, and BP, but rejected those of Woodside Petroleum, Shell, and Equinor.
• Reclaim Finance argues that any financial actor aligning with the 1.5°C goal must oppose new production projects, as the IEA Net Zero scenario requires that investments be directed toward existing infrastructure rather than new extraction or exploration.
• Amundi is criticized for a lack of transparency following its General Meeting, specifically for not publishing answers to shareholder questions regarding coal exposure and fossil fuel expansion, and for not recording the debates between the board and shareholders.

APA

Reclaim Finance (n.d.). Lettre à l’attention de Madame Valérie Baudson, directrice générale d’Amundi. https://reclaimfinance.org/site/wp-content/uploads/2022/06/Amundi_Lettre_Reclaim_Finance.pdf

Chicago

Reclaim Finance. Lettre à l’attention de Madame Valérie Baudson, directrice générale d’Amundi. n.d. https://reclaimfinance.org/site/wp-content/uploads/2022/06/Amundi_Lettre_Reclaim_Finance.pdf.

Wikipedia

{{cite press release |author=Reclaim Finance |title=Lettre à l’attention de Madame Valérie Baudson, directrice générale d’Amundi |url=https://reclaimfinance.org/site/wp-content/uploads/2022/06/Amundi_Lettre_Reclaim_Finance.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{reclaimfinancendlettre, author = {{Reclaim Finance}}, title = {{Lettre à l’attention de Madame Valérie Baudson, directrice générale d’Amundi}}, publisher = {Reclaim Finance}, url = {https://reclaimfinance.org/site/wp-content/uploads/2022/06/Amundi_Lettre_Reclaim_Finance.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }