We are Æquo

SHARED COMMITMENT AS A LEVER FOR IMPACT

Æquo is an independent consulting firm specializing in shareholder engagement and responsible, sustainable and impact investing. Our engagement expertise encompasses the levers available to investors to influence corporate practices, namely dialogue and voting.

We channel the voice and influence of our investor partners, asset owners and portfolio managers to set in motion positive changes in companies’ practices. Our pooling-based approach allows us to make shareholder engagement accessible to investors of any size and, above all, increase its scope and impact.

Our mission

Help ensure a sustainable economy by using engagement to leverage investors’ impact on companies.

Our approach is based on informed and constructive dialogues between investors and companies in an aim to optimize long-term value of investments, reducing companies’ negative impacts and encouraging them to seize the opportunities offered by a rapidly transforming economy.

We are convinced that the shareholder engagement approach is unrivalled in achieving sustainable investment and serving as a powerful lever for change.

Discover our theory of change

Our history

Æquo came to life in 2015 from a vision shared by Bâtirente—a group pension system funded by workers—and the Regroupement pour la Responsabilité Sociale des Entreprises (RRSE), a coalition of religious communities.

As pioneers of responsible investing in Québec, these investors brought together their resources to create Æquo with a twofold objective: to make shareholder engagement accessible to as many people as possible and increase its impact.

Æquo was founded on the belief that dialogue and co-operation are the key elements of a positive transformation. By working in a dynamic ecosystem with motivated partners, we harness the collective strength of our network to amplify the impact of shareholder engagement and make it accessible to a wider audience.

Our name embodies our mission and values. Derived from the Latin “aequus”, meaning “equity”, Æquo combines two concepts that are central to our approach: the principle of equity between the various stakeholders of a company and equity valuation.

Our growth was catapulted in 2022 with the arrival of shareholder Fondaction and the consolidation of our share ownership.

This strategic evolution led to the expansion of our service offer and our team. In 2023, we launched three new engagement strategies, covering more than 100 companies listed on world markets and proving our skills at innovating to meet the market’s changing needs.

We now represent over $140 billion in assets managed or held by over a dozen institutional investors. Our know-how extends to corporate equities and bonds on a global scale, thus positioning us as a key player in the sustainable investment community.

Æquo focuses primarily on shareholder engagement activities and advisory services in responsible, sustainable and impact investing.

We are proud of our ability to consult and guide our clients to help them generate a positive impact on corporate practices. By pairing local expertise with a global perspective, our approach enables us to offer tailored solutions that make a real impact.

Our journey

2015

Bâtirente and RRSE create Æquo

2015

Launch of Canadian large-cap equity engagement pool

2018

Launch of American large-cap equity engagement pool

2022

Fondaction joins Æquo’s shareholders

2023

Launch of three engagement pools: International Large-Caps, Global Small-Caps and Emerging Markets

Our values

Know-how

In our ever-changing field, we cultivate excellence by continually boosting our knowledge. Our expertise lies in our continual quest for best practices, and it enables us to deliver measurable results and increase our clients’ impact.

Rigour

Our structured methodology relies on objective information and a systematic approach when carrying out our engagements. This helps us achieve precision when measuring our actions’ impact and ensure concrete results.

Collaboration

Founded on informed, constructive dialogue with issuers, our approach aims for a mutual understanding of the challenges and solutions. Working closely with our clients and investors helps us maximize the effectiveness and scope of our engagements.

Passion

We firmly believe in the transformative potential of dialogue. This passion drives our daily enthusiasm as we seek to improve the practices of businesses and investors, while it energizes our quest for innovative ideas to multiply the outcomes of our engagements.

Our team

Leadership and engagement experts

A team that pairs agility with sustainable finance know-how

CONTACT US
LinkedIn


Isabelle Gagnon

Isabelle Gagnon brings over 15 years’ experience in governance, sustainable development and risk management to Æquo, which she has led since 2022. Her career path includes key positions at Deloitte, Raymond Chabot Grant Thornton and Desjardins Capital, with various innovative initiatives being launched under her leadership. As SME Governance Manager at Desjardins Capital, she oversaw the integration of ESG factors in investment processes and supervised partner companies’ board diversification measures. Her commitment extends beyond Æquo, as evidenced by her membership for nearly seven years already on the board of Axia Services, a social economy company whose mission is to offer quality jobs to people living with physical or psychological limitations.

In addition to a Finance degree (with great distinction) from McGill University and master’s degree in International Development from Erasmus University Rotterdam, Isabelle also earned a C.Dir. title from the Collège des administrateurs de sociétés.

LinkedIn


François Meloche

A pioneer of sustainable development in Québec and regular speaker at responsible investment conferences and events, François leads a number of dialogues with companies on various ESG topics.
Before helping launch Æquo in 2015, he was Extrafinancial Risks Manager at Bâtirente for nearly 10 years. François also worked for several years at firms specializing in responsible investment, including Sustainalytics, the Groupe Investissement Responsable and the Interfaith Center on Corporate Responsibility (ICCR). During his career, he has taken part in research missions to Africa, South America, Asia and Europe to learn more about corporate mining and petroleum practices and those companies’ relationships with the local communities.

François has a bachelor’s degree in Agricultural Economics from McGill University.

LinkedIn


Arnaud Celka

As an expert with over 15 years’ experience analyzing environmental, social and governance issues, Arnaud has designed and implemented Æquo’s knowledge management and dialogue tracking systems. He is in charge of Æquo’s research activities and is responsible for engagement processes and methodology, while also leading various dialogues. Arnaud is a specialist in ethics, responsible investment and sustainable development. He developed his know-how through his consulting, training and research activities as a consultant. His fields of activity and research comprise ethics for private and public organizations as well as risk and opportunity analysis related to ESG factors.

Arnaud has a Ph.D. in Sociology from Université de Montréal and a master’s degree in Political Science from Université Libre de Bruxelles. He has also held various research and teaching positions.

LinkedIn


Marine Martal

Before joining Æquo, Marine worked at the Community Futures Development Corporation of Côte Nord, coordinating the development of the circular economy and providing sustainable development guidance to SMEs. She also guided companies in their transition to sustainability, by analyzing their environmental issues and then proposing solutions to them. Marine was a member of the Sciences-Po au Féminin association and in charge of its funding aspect. As president of the Young European Federalists association of Isère, Marine also worked on developing youths’ knowledge about the European Union.

Marine holds a master’s degree in Environmental Management from the Université de Sherbrooke as well as bachelor’s and master’s degrees in Political Science from the Institut d’Etudes Politiques de Grenoble.

LinkedIn


Julien Bezombes

In his previous roles before Æquo, Julien had the opportunity to develop his sustainable finance expertise for several years with the Groupe Investissement Responsable (GIR), Impak Finance and Université Laval’s Foundation and mutual fund. Prior to his involvement in the responsible investment world, he worked in the purchasing and logistics field in England.

Julien has a Master of Business Administration (MBA) degree with a specialization in Organizational Social and Environmental Responsibility from Université Laval. He also earned a bachelor’s degree in Business Administration from the Toulouse Business School in France.

LinkedIn


Charlotte Douillard

Charlotte’s professional journey began with environmental project management responsibilities at Cégep Garneau and Keurig Canada. Keenly interested in the integration of electric vehicles into Van Houtte Coffee Services’ delivery fleet, she conducted a comparative study with HEC Montréal on the costs of electric vehicles in Québec. She honed her passion for sustainable finance at Impak Analytics, where she worked for three years. In that role, she analyzed the environmental, social and governance impact of numerous energy sector companies, addressing topics such as human rights and climate.

Charlotte holds a master’s degree in Management and Sustainable Development from HEC Montréal, as well as a bachelor’s degree in Public Affairs and International Relations from Université Laval.

LinkedIn


Luise Stahl

Before joining Æquo, Luise worked as an impact analyst encompassing social, environmental, and governance issues at impak Analytics. In this role, she also led the methodology on positive impacts. Moreover, she worked as an advisor for the Canadian hub of Future Earth, contributing to environmental science vulgarization initiatives. Her interest in the interconnections between finance and environmental risk developed during her time with the secretariat of the InsuResilience Global Partnership for Climate and Disaster Risk Finance and Insurance Solutions.

Luise holds a Certificate in ESG Investing from the CFA Institute, as well as a Masters in Public and International Affairs from the Université de Montréal. She holds a double-diploma in cross-border cooperation and communication in the Franco-German space jointly awarded by Saarland University and the Université de Lorraine.

She has served on the board of Net Impact Montréal, where she supported and promoted local sustainable development initiatives.

LinkedIn


Daniel Simard

A member of Æquo’s board from 2016 to 2023 and Bâtirente CEO from 1995 to 2021, Daniel became Strategic Advisor to the Executive team until his retirement in June 2022. Considered a responsible investing pioneer in Québec, Canada and abroad, he was one of the asset owner representatives elected to PRI Association’s first board of directors, serving from 2006 to 2015. He also set up and chaired PRI’s Québec Network and chaired the PRI Francophone Network. Daniel’s 35-year-plus background in finance includes his roles as pension committee member and insurance company director. He also served for 15 years as a negotiator and attorney within the Confédération des syndicats nationaux.

Daniel holds a bachelor’s degree from Université de Montréal’s School of Industrial Relations.

Board of Directors


Josée Cavalancia

Josée is a lawyer with over 20 years’ experience specializing in civil and commercial litigation, with particular expertise in collective actions. She has represented SMEs, multinationals, individuals and non-profit organizations from a range of industries, in cases related to questions of consumer law, securities, competition and privacy protection.

Holding a Law degree from the Université de Montréal and MBA from HEC Montréal, Josée expertly combines her legal skills and business acumen with her entrepreneurial background from the restaurant industry.

Equally passionate about management, strategy and governance, she has been active on the boards of La Cordée Plein Air Inc., the La Cordée Scout Foundation and the Junior Chamber of Commerce of Montreal.


Johanne Gélinas

As an ESG expert with more than 30 years’ experience in private and public sectors, Johanne focuses on strategy, implementation, performance measurement and accountability. She currently advises mainly senior management in organizations. A former partner in a major sustainable development firm, she has also served as a federal environment and sustainable development commissioner. Johanne has chaired and sat on various boards, including those of RECYC-Québec and Protégez-Vous. More recently, she led the Crown corporation in charge of Québec’s energy transition.

Now retired from her government role, she occasionally guides organizations that are committed to promoting ESG and is still involved in several company boards.


François Bourdon

François is an investor and investment team leader with vast experience in multiple asset classes ranging from fixed income and equities to absolute return and hedge fund strategies. He is the founder and managing partner at Nordis Capital, a sustainability-focused investment manager. Throughout his career, he has developed expertise across a wide variety of investment topics. François has been a frequent speaker on asset allocation, portfolio construction and risk management. He now focuses on sustainable investment.

François holds a bachelor’s degree in Actuarial Mathematics, is a Fellow of the Society of Actuaries, a CFA charter holder and certified Professional Risk Manager (PRM), for which he was co-recipient of the 2004 PRM Candidate of the Year Award.


Éric Filion

Éric has served as Bâtirente’s Chief Executive Officer since 2021. He joined the organization as Chief Operating Officer in 2016. Éric’s career includes over 25 years’ experience in the financial field, 20 of which at one of Québec’s largest financial institutions, where he held several strategic roles in personal insurance as well as in the pensions sector.

He has a bachelor’s degree in Mathematics and Statistics from Université de Montréal and is a Fellow of both the Canadian Institute of Actuaries and the Society of Actuaries.


Soumya Tamouro

Soumya holds a master’s degree in Biological Science from Université du Québec à Montréal and university certification in corporate governance from Université Laval. With more than 20 years’ experience in intervention and research from the health and immigration fields, she plays an active role as a director, researcher and consultant in strategic development, social innovation and governance.

Soumya has worked collaboratively with a number of research groups, including UQAM’s Institut de Santé et Société and the Quebec Population Health Research Network. Since 2015, she has sat on the board of the Régie de l’Assurance Maladie du Québec, having been appointed by Québec’s Conseil des ministres. She is also a board member of the Société du Parc Jean-Drapeau and Board Chair of the Regroupement pour la Responsabilité Sociale des Entreprises.

Our engagement partners

Our team guides major asset holders and managers through their sustainable investment process, by offering an objective, informed and integrated approach.

“Æquo’s partners represent a collective influence backed by over $140 billion in assets. Our pooled approach harnesses the strength in numbers to attract investors and become more effective at getting businesses to change their practices.”
Isabelle Gagnon, CEO

Collaborative engagements