French investment juggernaut AXA Investment Managers says it will continue to vote against Australian companies that fail to align their business activities to the Paris Agreement goals, predicting more mainstream investors will become climate activists in the coming decade.

Last year the firm, which has assets under management of €804 billion ($1.32 trillion), voted against management in 46 per cent of annual general meetings, including on high-profile climate-related resolutions against BHP, BP and Exxon Mobil.