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Advocacy actions

OUR APPROACH


At Mirova, we promote our vision of responsible investment through advocacy actions dedicated to the shaping and development of sustainable finance. We establish a dialogue with national and international regulatory bodies as well as with professional organisations in order to encourage specific regulations and standards for sustainable finance. Our goals are as follows:

  •  Provide investors with the means to identify the needs for sustainable investment
  •  Remove obstacles and create tools for developing long term market sustainable investments
  • Strengthen sustainable investment’s position within the financial sector

 

PARTICIPATION IN PROJECTS AND REFLECTIONS WITH PROFESSIONAL AND INTERNATIONAL ORGANISATIONS

 



Learn more about the initiatives supported by Mirova (link to pdf)
 

FOCUS ON 3 MAJOR 2017 INITIATIVES

 

  • Paris Europlace / Finance for Tomorrow


Paris Europlace, Paris financial market association, published the Green and Sustainable Finance Initiative with the support of Mirova in November 2016. This report highlights the Paris financial market’s role in sustainable finance, and identifies how this role could be reinforced. Mirova contributed with Paris EUROPLACE to conduct over 40 interviews with key players and to provide 15 recommendations. This led to the launching of the Finance for Tomorrow initiative, implemented throughout 2017 by dedicated working groups. During this year, the initiative has supported the Climate Finance Day, the One Planet Summit and has published the “50 Climacts”.

Philippe Zaouati, Mirova’s CEO, chairs this initiative.
 

  • High-Level Expert Group (HLEG) on Sustainable Finance of th EU Commission


In December 2016, the European Commission announced the creation of a group of high-level experts on sustainable finance. This group would spend one year working on recommendations for implementing a complete sustainable finance strategy for the European Union.  The group is comprised of 20 experts from the financial sector, civil society and academia. Philippe Zaouati was selected as one of them, confirming Mirova and Natixis Investment Managers’s driving role in sustainable finance. The group published a preliminary intermediate report in July 2017. Following up on the release of the HLEG’s interim and final reports, the EU Commission has released a dedicated action plan in March 2018 that should build on the HLEG recommendations to promote sustainable finance at the EU level.

 

 

  • UNEP FI Positive Impact Finance Initiative



As a member of the United Nations Environment Programme Finance Initiative’s (UNEP FI) Positive Impact Finance Initiative, Mirova is signatory to the Positive Impact Manifesto, published in 2015, and supports the Principles for Positive Impact Finance, launched in January 2017. These principles propose an unprecedented framework for extra-financial analysis that promotes the private financial sector’s participation in sustainable development financing.

 

  • Task Force on Climate-Related Financial Disclosures (TCFD)

In 2016, the Financial Stability Board established a Task Force on Climate-related Financial Disclosures (TCFD). Its objective is to define what climate-related disclosures should be included in issuers’ annual reporting.
The objective of the first consultation was for the TCFD to receive advice on the scope of its recommendations.
The objective of the second consultation, launched in February 2017, was to seek advice on the recommendations on climate-related disclosures released by the TCFD in December 2016.
Mirova responded to both consultations to contribute to the reflection on global climate disclosure guidelines.


Next Steps: The TCFD has analysed all stakeholder input and released a final report in June 2017. The stake is now to implement these recommendations worldwide.

 

 

OTHER 2017 ADVOCACY ACTIONS:

 

Developing Sustainable Finance

  •  Membership and very active contribution to the EU Commission’s High-Level Expert Group (HLEG) on sustainable finance works, intermediary and final reports;
  • Chairmanship of and contribution to Finance for Tomorrow, the Paris Europlace Green & Sustainable Finance Initiative, that organized the Climate Finance Day;
  • Support university research, with financial support for the Energy and Prosperity Chair, and membership of Mirova’s CEO, Philippe Zaouati, at the Cambridge Institute for Sustainable Leadership

 

Supporting Climate Action & Disclosure

  • Response to public consultations such as the Task Force on Climate-Related Financial Disclosures (TCFD)
  • Support several investor statements and letters for more climate actions and TCFD disclosure guidelines that were sent to the following governmental bodies: G7 and G20 countries, EU Ministries of Environment, US Presidency, World Leaders

 

Publishing of Papers

  • Draft publication for Finance for Tomorrow explaining the stakes of the HLEG Interim report