Governance of listed companies: Caisse des Dépôts votes about all its holdings

Caisse des Dépôts


Being a responsible investor and active shareholder, Caisse des Dépôts systematically votes at the general meetings of the listed companies in which it invests. To do so, it refers to its voting policy, now published online, which formalizes its expectations in terms of corporate governance.

Caisse des Dépôts’ voting policy and principles of governance about listed companies:


These principles form the basis for dialogue with French and foreign listed businesses and with the market authorities and agencies.

As a long-term shareholder, Caisse des Dépôts is committed to promoting good practices in social, environmental, ethical and governance terms, in the firm belief that these are instrumental for sustainable business growth and creating long-term value for the benefit of all stakeholders.

Caisse des Dépôts' corporate governance principles and its voting policy have been defined by incorporating different French or international guidelines drafted by investors, professional and international organisations*.

For more than a decade, we have defined the main guidelines for our AGM votes, and especially with a view to engaging in preliminary dialogue with firms. Improving corporate governance is crucial to our purpose and our responsibility as a shareholder.

Olivier Mareuse

Asset Management Director at Caisse des Dépôts


On 30 June 2019, Caisse des Dépôts was overseeing €173bn worth of financial assets, 22% of which are shares – which amounts to €35bn of shares managed directly, 2/3 of which concern French businesses.



* Afep-Medef corporate governance code of listed corporations, Principles of Corporate Governance (OECD), Global Corporate Governance Principles (International Corporate Governance Network- ICGN), Principles for Responsible Investment (UN).