GAM

The responsibility for sustainability issues within GAM lies with the board. In terms of female representation in leadership positions, the asset manager has a gender-balanced board of directors where 57% of members are women. GAM has an engagement policy where it describes its approach on sustainability themes and impact topics with investees as well as includes a clear framework with success criteria and escalation points in the event that engagement with investees is unsuccessful. It also publishes case studies describing where it has engaged successfully and unsuccessfully with investees on sustainability themes and impact topics. 

As a member of Net-Zero Asset Managers Initiative (NZAMI), GAM has set a target of net-zero financed emissions by 2050. Similarly, as a member of Climate Action 100+, the asset manager discloses that it collectively engages with its clients on the topic of climate change. GAM also discloses the key sectors it has identified as priorities to engage with on climate change, specifically alignment with the Paris Agreement. Moreover, GAM discloses nature- and biodiversity-related impacts as one of its engagement priorities with investees. 

GAM has a grievance mechanism accessible to all workers, external individuals and communities to raise human rights complaints or bribery and corruption concerns. It also has a publicly available policy statement which shows it is committed to respecting the health and safety of workers. GAM discloses a global tax strategy for which the group’s chief financial officer is responsible. Moreover, the asset manager specifies that it does not make political contributions. Regarding diversity, GAM discloses the proportion of women in its total direct operations workforce for each employee category. 

While GAM discloses that its Compensation Committee agreed that sustainability should form a more explicit element of the strategic annual bonus scorecard component driving annual remuneration, there is no evidence that the asset manager links the remuneration of its executive or management teams to sustainability performance criteria. Moreover, GAM discloses it has undertaken an equal pay analysis for its operations in Switzerland and reports there is no pay gap. However, it could disclose similar metrics for its global operations.  

Even though GAM discloses an interim target to reduce financed emissions by 50% by 2030, it could extend the target to all its assets under management. The asset manager could disclose whether it requires investees to have a strategy aligned with the Paris Agreement. GAM also has an opportunity to disclose the amount of its investment devoted to climate solutions. Furthermore, GAM could disclose its approach to fossil fuels, such as the amount or share of investment it directs towards fossil fuels, or its stance on investing in companies with new fossil fuel projects. Regarding nature and biodiversity, no evidence was found that GAM is committed to minimising its negative impacts or financing regenerative solutions. 

GAM has an opportunity to describe a comprehensive process for identifying its human rights risks and impacts across all its activities, especially its investment activities. While GAM discloses the ages of its board of directors and the average age of employees, it could also disclose this information for each employee category. To provide transparency on financial inclusivity, GAM has an opportunity to disclose the amount of investments directed towards low-income developing countries.