Métropole Gestion

Our ESG approach

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Our approach to ESG analysis

Since 2008, the funds METROPOLE Gestion manages are subject to a 360 degree corporate analysis procedure that considers three aspects: extra-financial analysis, financial analysis, and balance sheet analysis.

Our analysis procedure is based on a multi-sector, Best-in-class / Best effort approach that encourages companies to improve on the three major non-financial ESG themes.

This is based on a solid methodological framework, developed through our academic collaboration with Université Clermont Auvergne.

A solid methodological framework

Since 2009, METROPOLE Gestion has been keen to establish a methodological basis independent of the major ESG rating agencies by establishing an academic collaboration with the University of Clermont Auvergne in order to produce an in-house company rating system proprietary to METROPOLE Gestion.

  1. The frame of reference is the architecture of the rating system. It is organised into 4 orthogonal pillars:

  2. Approche ESG

  3. Quantitative analysis: data metrics and aggregation

    • We use an extra-financial database (5,000 companies worldwide), which provides stable data over time, combining official corporate data (annual reports, sustainable development reports) and details of any controversies sourced from press agencies.

    • Using this data, we build 150 indicators to measure each element of our standards, favoring outcomes over drivers deployed (75% - 25%).

    • Each pillar is equally weighted.

    • Best in Class rating: each company is rated in relation to its sector to obtain a Best in Class rating.

    • Best Effort rating (1 to 5 stars): this takes into account the change in extra-financial rating over the past four years, with additional weighting given to the last year.

    • Ratings are reviewed annually.
  4. Qualitative analysis: the quantitative rating is verified and supplemented by qualitative analysis.

    • Taking into account any ongoing controversies:
      • all controversies regarding stocks held in the portfolio are reported and monitored on a weekly basis.
      • in the case of new companies under consideration, in addition to the quantitative rating, controversies are analysed over the last three years in accordance with our Policy of controversies prevention and verification available on our website.
    • Analysis of sector-specific risks. We particularly focus on identifying specific ESG risks. We incorporate such risks within our analysis for all companies in a given sector.

    • Dialogue with companies through interviews with CSR managers and senior executives (at least once a year for companies in the portfolio), designed to explore in depth the risks identified, detect any risks not identified during the rating process and influence the direction of company strategy.


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