The decision has been made to permit companies to act as shareholders, and we take responsibility for that decision. This decision was motivated by our desire for a pluralistic body of shareholders – companies, trade unions, NGOs, traders, etc. – thus reflecting the pluralist expectations and interests of the agency.
By renewing the agreement in 2015 regarding the capital raised, our shareholders indicated their support for the creation of a global extra-financial analysis agency which aims to promote market standards through a production which combines professionalism, quality and R&D.
The theoretical potential for conflict of interests is not ignored.
In order to avoid conflict, Vigeo Eiris limits the participation of any shareholders to 25% and to 2% for corporates that are not financial actors. At present, the participation of each company that is not a financial actor is between 0.22% and 0.95% and the participation of each financial actor is between 0.04% and 10.01%.
The Executive Board is composed of three Boards (reflecting the capital structure of the shareholder stakeholder groups i.e. companies, financial actors, civil society), with three members each, regardless of the level of capital contribution, and 3 independent Directors. Each Board has been given 2 seats on the Executive Board. Shareholders that have at least 9% benefit from an additional seat on the Executive Board.
Finally, Vigeo Eiris has established a Scientific Board, composed of independent university academics and experts, contributing to the independence, professionalism and ethics of the company. The Scientific Board advises and guides the agency as regards its methodological approaches and ensures the respect of these measures in products created for clients.