Ethos, French Institutions Criticize Roche's Sustainability Plan for Lacking Climate Strategy
Swiss asset manager Ethos, along with French institutions, has criticized Roche's sustainability plan due to insufficient climate strategy and unvalidated emission reduction targets. Ethos, managing CHF350bn, joined forces with ADEME, FIR, and WBA to assess European companies' climate plans, starting with Roche at its AGM on 12 March.
Ethos, led by CEO Vincent Kaufmann, opposes Roche's sustainability plan due to a lack of robust climate strategy and unconfirmed greenhouse gas emission reduction targets. Ethos' stance is likely influenced by major institutional investors and family foundations, such as the Hoffmann and Oeri families, who are long-standing Roche shareholders.
Ethos, in collaboration with French institutions, aims to extend its climate transition ratings to all listed European companies. This initiative builds on Ethos' 2023 Climate Transition Ratings and is partly based on ADEME's ACT methodology from 2015. The partnership seeks to evaluate and influence companies' climate plans, as demonstrated by Ethos' opposition to Roche's plan at the Roche AGM.
Ethos, along with French institutions, has raised concerns about Roche's sustainability plan. Their collaboration aims to expand climate transition ratings across Europe, starting with Roche. Ethos' recommendations, influenced by major shareholders, push for more robust climate strategies and verified emission reduction targets.
