Corporate Newsletter Q3 2019

Published on 10/16/2019 News

Investing in Sustainability? Yes but how

Learn about what happened at Mirova during Q3 2019.

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Equities

actions durables

Launch of the Ircantec dedicated strategy

On September 10, Mirova launched an investment vehicle of more than 600 million euros dedicated to the French Public Pension Fund Ircantec. This vehicle follows the Europe Environment Equity strategy and allows us to double our investing capacity in companies providing solutions to environmental issues.

This investment strategy are exposed to risk of capital loss. The above information is not a confirmation of any transaction and does not comprise advice related to any kind of investment.  Access to products and services presented may be restricted regarding certain persons or countries.

Solidarity Investments

investissement solidaire

Mirova supports the development of Ethiquable  

Mirova has been a partner of the cooperative Ethiquable (ESUS[1] label) since 2013 and has participated in their fund raising for the implantation of a fair-trade and organic chocolate factory in Fleurance, Gers (France).

 

Mirova supports the first bond issue of the Fondation pour le Logement Social

The Fondation pour le Logement Social [2](FLS) is and independent foundation created in 1988 and recognized as serving the public good. The foundation’s property assets represent almost 13 000 m², they have more than 170 housing options available and have helped more than 315 families since their creation. In September 2019, Mirova signed up to the first bond issue of the FLS arranged by the bank Crédit Cooperatif, which will allow them to scale up.

Read the article published by the FLS (French)

 

Capital increase of La Foncière Léopold Bellan: Mirova takes part in the round table

In order to help those in need, whose number is in constant rise, the Léopold Bellan foundation created the Foncière Solidaire Léopold Bellan[3] (holder of the ESUS label and of the Finansol label) which aims at promoting housing projects.  Mirova participated in La Foncière Léopold Bellan’s first capital increase of 3.8 million euros finalized in July 2019.

Read the press release from the Leopold Bellan foundation (French)

Reference to a ranking and/or a price does not indicate the future performance of the strategy or the fund manager.
[1] Companies aiming at social good
[2] Foundation for social housing
[3] Leopold Bellan socially-cohesive property company

Natural Capital

capital naturel

The Land Degradation Neutrality (LDN) strategy reaches 150 million dollars

On the occasion of the UN Climate Action Summit held in New York on September 23rd, Mirova announced more than 50 million dollar worth of new investments from private investors for the LDN strategy.

Read the press release

 

LDN strategy nominated for a UN PRI Award!

From 10 to 12 September the PRI in Person Conference, the leading global conference on responsible investment organized by the Principles for Responsible Investment (PRI), was held in Paris. More than 1 500 participants exchanged on the key trends of the sector.  

The LDN strategy was nominated for a UNPRI 2019 award in the category “Real World Impact Initiative of the Year “alongside 4 other finalists. This nomination gives credit to the innovative nature and the relevance of the strategy.

Read the statement on the nominated initiatives on the PRI website:

This strategy is exposed to risk of capital loss.
The above information is not a confirmation of any transaction and does not comprise advice related to any kind of investment.  Access to products and services presented may be restricted regarding certain persons or countries.

Energy Transition Infrastructure

Engie and Mirova join forces to build a new photovoltaic plant in Spain

August 2019 - Located in Palma del Río, near Cordoba, the Seneca project will have an installed capacity of almost 50 MW and will require a 40 million euros investment. The new photovoltaic plant will create approximately 100 GWh/year of renewable production, which represents enough energy to supply nearly 50 000 homes.

Read the press release (Spanish)

 

Seneca

Mirova becomes the majority shareholder in the Phoenix project

Last April, Mirova, Forestalia and Engie united in order to fund the construction of 10 wind parks in the Spanish region of Aragon. The “Phoenix” project will include 91 wind turbines for a total of 342 MW of installed capacity. In September, Mirova became the majority shareholder in the Phoenix project.

Phoenix

With the support of Mirova, Corsica Sole will double its solar park and storage

September 2019 - Mirova grants a 20 million euros funding to Corsica Sole, the solar photovoltaic and energy storage specialist. This transaction aims at providing the company with the necessary funding for their projects in the next two years, which represent 100 MWp worth of solar plants and 25 MWh worth of storage. This operation continues a long-standing partnership of more than 5 years.

Corsica Sole

Opening of "Le Douiche", the largest wind park of the Somme

On September 12th, the French department of the Somme inaugurated its most powerful wind park, “le Douiche”, developed by Nordex and now held by Mirova and Rive With its 20 wind turbines for a total installed capacity of 60 MW, it is the largest park of the department and the 2nd largest in the Hauts-de-France. Mirova was represented by Raphaël Lance, Head of Renewable Energy Infrastructure Funds.

Douiche opening

Publications

publications

Mirovα : Creating Sustainable Value #1

Understanding the markets, Investing, Engaging in dialogues, Measuring Impact. On September 9th, Mirova published the first issue of its market newsletter.

Read the publication

 

Acting as a Responsible Investor 2018

Article 173 of the Energy Translation law states that French Investors must take into account social, environmental and governance matters in their investments. The publication of this impact report is our chance to demonstrate that sustainable development issues are at the core of our investment policies and voting and engagement actions.

Read the report

 

 

Regulation & Engagement

Mirova coordinates a joint statement of investors calling on companies to create the conditions for gender equality at work

September 2019 – After integrating the issue of gender equality into its line of investment solutions, Mirova coordinates the adoption of a joint statement by investors aiming at promoting gender equality in companies. This statement is supported by UN Women and UN Global Compact.

 

glass ceiling

Mirova and other investors stand up against deforestation in the Amazon

September 2019 – Mirova signed the investor statement on forest fires in the Amazon coordinated by the NGO CERES[4] and the Principles for Responsible Investment. This coalition of 230 investors representing 16.2 trillion dollars emerged in the wake of the fires which devastated the Amazon rainforest in August 2019 and calls on companies to take measures against deforestation.

Read the statement

[4] Coalition for Environmentally Responsible Economies
Amazon fires

Events & Sponsoring

Gender equality takes part in the G7, so does Mirova

At the occasion of the G-7 finance ministers and central bank governors meeting, Hervé Guez, CIO of Equities & Fixed Income at Mirova, took part in an informal session on July 18 dedicated to gender equality in the economic and professional sphere. This session gathered institutions which had distinguished themselves on this particular subject.

G7 finance

The role of private finance in land and ecosystem restoration

The LDN team took part in the COP14 of the UN Convention to Combat Desertification held on 2-13 September in New Delhi, India. Mirova was a co-organizer of an event on the 5th of September on the role of private finance in matters of land and ecosystem restoration, alongside WWF and UN Environment.

 

COP 14

Mirova came forward at the PRI in Person event

The global conference on Responsible Investment organized by the Principles for Responsible Investment (PRI) was held in Paris on 10-12 September. Soliane Varlet, portfolio manager, spoke at the “Boosting investor action to foster a culture of diversity and inclusion” panel. Philippe Zaouati, CEO, was asked to give a closing speech.

Find out more about Mirova’s attendance

 

PRI in Person Philippe Zaouati

Mirova attends the Global Landscape Forum

Mirova attended many events of the Climate Week held in New York on 23-28 September. Philippe Zaouati, CEO, participated in the “Vision 2030” panel of the Global Landscape Forum. He took the opportunity to emphasize the key role blended finance plays in the achievement of the Sustainable Development Goals.

Read Philippe Zaouati’s column on blended finance

GLF

Awards

Mirova wins the Corbeille d’Or Sociétés de Gestion 2019

On September 25, Mirova won the "Corbeille d’Or Sociétés de Gestion 2019"[5] awarded by Mieux Vivre Votre Argent magazine. Very well-known in France, they reward asset management companies whose funds get the best financial performances on a 1-to-5-year period based on the analysis of the magazine team.

Read more

 

Reference to a ranking and/or a price does not indicate the future performance of the strategy or the fund manager. Past performance and simulations of past and future performances are not a reliable indicator and therefore do not anticipate future results.
To find out more about this award and the methodology, please refer to the website https://www.mieuxvivre-votreargent.fr
[5] Golden basket for asset management companies
Hervé Guez