As a long-term investor, we engage in regular dialogue with the companies in which we invest to encourage them to improve their practices for taking environmental, social and governance (ESG) criteria into account. Find out how our active approach to stewardship was borne out in Q2 2025.
*This data refers to the number of meetings where Carmignac took a vote position against the recommendation of the board. In practice, this refers to votes cast against management-led resolutions and, in most cases, votes cast for shareholder-led resolutions (unless the shareholder-led resolution is supported by management).
Carmignac is committed to aligning its dialogue strategy with five types of engagement: engagement on ESG ratings, thematic engagement, impact engagement, engagement on controversial behaviour, and engagement on proxy voting decisions.
In Q2 2025, we initiated dialogue with investee companies 36 times and across four types of engagement. No impact engagement was undertaken in Q2 2025.
Our engagements cover a full spectrum of environmental, social and governance topics. Engagements may be relevant to more than one category at the same time. The proportion of our engagements which had environmental, social and governance relevance in Q2 2025 was as follows.
We engaged with our investee companies in a variety of ways, including direct engagement, as part of a group, and via email.
In Q2 2025, Carmignac voted against the management of our investee companies at least once at 59% of meetings voted.
Find out how we specifically engaged with one of our investee companies in Q2 2025.
DiDi Global Inc.
Sector: Internet, media & services
Region: China
The company is an equity holding in our funds1.
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CARMIGNAC GESTION 24, place Vendôme - F-75001 Paris - Tél : (+33) 01 42 86 53 35 Investment management company approved by the AMF Public limited company with share capital of € 13,500,000 - RCS Paris B 349 501 676.
CARMIGNAC GESTION Luxembourg - City Link - 7, rue de la Chapelle - L-1325 Luxembourg - Tel : (+352) 46 70 60 1 Subsidiary of Carmignac Gestion - Investment fund management company approved by the CSSF Public limited company with share capital of € 23,000,000 - RCS Luxembourg B 67 549.