Stewardship is evolving. For years, engagement was assessed by volume – the number of meetings held, letters sent or companies contacted. Today, asset owners and asset managers are asking a more demanding question: did engagement make a difference? In the near future, however, asset owners and asset managers might have more tools to assess engagement quality and additionality, explains Francois Humbert.
WOULD CHANGE HAVE HAPPENED ANYWAY?
At Generali Asset Management, our approach is centered on measurable influence.
Engagement at Generali Asset Management is structured, committee-led and supported by internal ESG analysts, credit research and investment teams.
In 2025, we conducted 72 engagements across environmental, social and governance themes. Seventeen were deemed successful, meaning companies implemented the expectations defined at the outset. But success alone is not enough.
This is where the concept of additionality becomes central: would change have happened anyway?
You can now read the full whitepaper at the link below
