Corporate Newsletter Q3 2021

Published on 10/08/2021 News

Investing in Sustainability? Yes but how

Learn about what happened at Mirova during Q3 2021.

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Equities & Fixed Income

Mirova

Mirova US partners with one of Australia’s largest superannuation funds

Mirova US has entered into a significant global equities partnership with one of Australia’s largest superannuation funds. This investment in the Mirova Global Sustainable Equity strategy forms part of the clients strategy to gradually reduce absolute carbon emissions from its investment portfolio and transition to zero carbon emissions by 2050.

Mirova US appointed to manage a Corporate Defined Benefit Scheme

In September 2021, Mirova US has been appointed to manage a part of a £65m Corporate Defined Benefit Scheme in the United Kingdom, as part of the Global Sustainable Equity strategy. The fund is expected be deployed over the next few weeks.

Mirova manages a new Canadian vehicle

In August 2021, Mirova started managing a Canadian vehicle for the Mirova Global Sustainable Equity strategy, seeded with a C$100 million investment from the Pension Plan of a University based in Ontario, Canada. This university has committed to reducing the carbon footprint of its pension and endowment investment portfolios by 50% by the year 2030 and is committing to achieving full carbon neutrality by 2040.

Private Equity

Mirova

Mirova announces the launch of its impact private equity strategy

On September 29, Mirova announced the launch of a new impact investment strategy. This pan-European private equity strategy aims to invest in companies providing sustainable innovative solutions and technologies contributing to the environmental transition. Classified as "Article 9" under the European "SFDR1" regulation, the strategy aims to raise €300 million from institutional and private investors.

Read the press release

[1] The Sustainable Finance Disclosure Regulation (SFDR) aims to provide greater transparency in terms of environmental and social responsibility on the financial markets, in particular by providing information concerning the sustainability of financial products (integration of risks and negative impacts in terms of sustainability).

Ombrea welcomes Mirova to its capital to accelerate the deployment of its climate protection solutions

The startup Ombrea, after a €10 million fundraising, opens its capital to Mirova as lead investor. The CMA CGM Group, a world leader in maritime transport and logistics, two French entrepreneurs and Région Sud Investissement, one of its historical investors, complete the round. The objective of this operation for Ombrea: accelerate the development of its crop management and protection solutions to farmers who are increasingly dependent on climatic hazards.

Read the press release

Mirova supports Agronutris and its insect-based protein

Agronutris, the first French biotechnology company specialized in rearing and transforming insects for food, is announcing that it has raised 100 million euros, including 50 million euros of equity, notably from the SPI Industrial Project Fund, managed by Bpifrance as part of the Investing in the Future program (Programme d’investissements d’avenir), and Mirova. This operation will enable the company to deploy its first industrial unit in Rethel (Ardennes) by the end of 2022 and fund the creation of a second larger site.

Read the press release

 

Solidarity

Mirova

Les Glénans launches the renovation of its facilities with the support of Mirova

Les Glénans a leading sailing school, is a registered social utility company (ESUS). It is finalizing its first fundraising of €1.3 million in the form of associative shares in which Mirova participated. Objective: financing the renovation of its sites.

Mirova Solidaire1: 2020 impact report

As investors' awareness of the ecological emergency grows, in a context of health crises and an increase in extreme climatic events, it is now essential to take environmental and social issues into account in investment. The social issue is becoming particularly pressing, as our social fissures are becoming real fractures. For the past twenty years, social impact investing, which guarantees to investors that the investments they make contribute to the financing of activities that generate social and environmental benefits, has experienced unprecedented growth. Early convinced of the relevance of social impact investing, Mirova is currently the leader for social impact investing in France2.

Discover the impact report (in French)

[1] MIROVA SOLIDAIRE is a French Specialized Professional Fund (AIF). Mirova is the management company. The supervisory authority approval is not required for this fund. The fund is exposed to: Capital loss risk, liquidity risk, valuation risk, operational risk, credit risk, interest rate risk.
[2] Source : Zoom sur la finance solidaire 2020 - Finansol
Past performances do not anticipate the future performances.

Mission

Mirova

Mirova recognised as a "Best For The World™" 2021" B Corp in "customers area"

Mirova has been named amongst the "Best for the World™ B Corps of 2021". The Best for the World are B Corps whose scores in one or more of the five impact areas assessed towards the certification reach the top 5% of all B Corps worldwide. Mirova has been recognised in the "customers area", for the development of high impact investment solutions for investors.

Read the news

Past performances do not anticipate the future performances.
References to a ranking, prize or label do not anticipate the future results of the latter, or of the fund, or of the manager.

Mirova selects Y Nexia Group and Better Way as Independent Third Party

As a mission-led company1, Mirova has appointed the Y Nexia Group and its partner Better Way, to verify the implementation of its social and environmental objectives, in close collaboration with its Mission Committee, made up of leading experts on environmental and sustainable finance issues, who will monitor the implementation of its mission. Initial discussions with the Committee are scheduled for the third committee meeting to be held on October 18.

[1] Introduced in France in 2018 under the Pacte Law, a ‘société à mission’ company must define its "raison d'être" and one or more social, societal or environmental objectives beyond profit. The purpose, and objectives aligned with this purpose, must be set out in its Articles of Association. The Articles specify the means by which the execution of the Mission will be monitored by a Mission Committee (a corporate body distinct from the board of directors which is responsible for monitoring the implementation of the mission with at least one employee.) An independent third party then verifies the execution of the Mission, via a written opinion which is annexed to the report of the Mission Committee to shareholders and made available on the website of the company for a period of five years.

Natural Capital

Mirova

Mirova and IDH launch a call for projects in the Great Green Wall region

In July 2021, Mirova and IDH invited eligible companies and organizations to submit proposals that will enable the implementation of commercially viable sustainable land management and land restoration projects in the Great Green Wall region, with the aim of attracting private investment and blended finance to expand their business.

Read the call for projects (in French)

Mirova and IDH launch a call for projects with strong gender equality and land degradation ambitions

The Land Degradation Neutrality (LDN) Fund and Technical Assistance Facility (TAF) aim to support projects that have a positive impact on women’s empowerment. This Request for Proposals is aimed at entrepreneurs, green and social business, young or mature, with strong gender equality ambitions that are looking to scale up and strengthen their business model. Deadline for applications: November 21, 2021.

Learn more

Land Degradation Neutrality Fund: impact report 2020

After three years of preparatory work, the LDN Fund became fully operational in December 2018. In March 2021 it reached its final closing with more than US$ 200 million committed by public and private investors. In order to present the concrete results and impacts delivered on the ground, for the environment, people and the economy. We are very proud to present the first impact report for the LDN fund.

Read the impact report

LAND DEGRADATION NEUTRALITY FUND is a Luxembourg Special Limited Partnership (Société en Commandite Spéciale), closed to new subscription. Mirova is the management company. The supervisory authority approval is not required for this fund. The fund is exposed to the following risks: loss of capital risk, deal flow risk, operational risk, liquidity risk, country risk, market risk, legal and regulatory risk, currency risk, counterparty risk, project risk, valuation risk.

Althelia Sustainable Ocean Fund (SOF): Impact Report 2020

The Althelia Sustainable Ocean Fund (SOF) reached its final close in May 2020 securing over US$ 130 million of public and private investor commitments to support sustainable blue economy investments in emerging markets globally. The SOF impact report 2020 is now available.

Read the impact report

The Althelia Sustainable Ocean Fund (“Fund”) is a Luxembourg SICAV-SIF authorized by the Commission de Surveillance du Secteur Financier (“CSSF”), closed to new subscription. Alter Domus Management Company S.A. is the Alternative Investment Fund Manager (AIFM) of the Fund and is duly authorized by the CSSF as an alternative investment fund manager pursuant to Chapter 2 of the AIFM Law and the AIFM Directive. Mirova Natural Capital Limited is an investment advisor to Alter Domus Management Company S.A. The fund is exposed to capital loss risk, deal flow risk, operational risk, liquidity risk, country risk, market risk, regulatory risk, currency risk, counterparty risk and project risk.

Althelia Climate Fund (ACF): impact report 2020

The Althelia Climate Fund adventure started with a bold ambition eight years ago: slowing down deforestation through scalable project financing that not only mitigates climate change and protects biodiversity but also promotes a fair and sustainable living to local rural communities. Discover the ACF impact report.

Read the impact report

ALTHELIA CLIMATE FUND is a Specialized Investment Fund incorporated as a Luxembourg Limited Partnership with shares (SCA SICAV SIF), closed to new subscription.Mirova Natural Capital Limited is an investment advisor to the Althelia Climate Fund GP and to Alter Domus Management Company S.A, the Alternative Investment Fund Manager (AIFM) for ALTHELIA CLIMATE FUND. The fund is exposed to loss of capital risk, deal flow risk, operational risk, liquidity risk, country risk, market risk, legal and regulatory risk, currency risk, counterparty risk, project risk, valuation risk.

Energy Transition Infrastructure

Mirova

Watt for Change and Mirova reveal the 8 winners of their call for projects "Acting against energy insecurity"

Last February, Watt For Change VALOREM Foundation and Mirova launched a national call for projects to support local actors in the implementation of actions in favor of the renovation of housing for households in a situation of energy insecurity. After deliberation, 8 winning projects out of 25 were selected by a committee of 9 people to receive financial support of between 20,000 and 50,000 euros.

Read the press release (in French)

First closing for the Mirova Energy Transition 5 fund

Mirova has announced the first closing at €466 million of its Energy Transition Infrastructure Fund (MET51) launched in early 2021. The 5th fund raised by the Energy Transition Infrastructure team offers an investment strategy in line with previous funds, building on strong industry partnerships established over nearly 20 years.

[1] MIROVA ENERGY TRANSITION 5 (MET5) is a French limited partnership (Société de Libre Partenariat), open to subscription to eligible investors as defined by the fund’s regulation. Mirova is the management company. The supervisory authority approval is not required for this fund. Investment in the fund involves risks, in particular: capital loss risk, market risks, industrial and public counterparty risk, credit risk, liquidity risk, project risk, operational risk, compliance risk, legal and regulatory risk, financial risk, electricity transmission and distribution network risk, valuation risk, deal flow risk.

Regulation & Engagement

Mirova

Mirova welcomes the European Commission’s proposal for a new Corporate Sustainability Reporting Directive

As a signatory to the Principles for Responsible Investment (PRI), Mirova welcomes the European Commission’s proposal for a new Corporate Sustainability Reporting Directive (CSRD) revising the Non-Financial Reporting Directive (NFRD), and its aim to elevate sustainability information to the same level as financial information.

Read the article

Financial institutions' statement for the Convention on Biological Diversity COP15

Mirova supports the establishment of an ambitious and transformational post-2020 Global Biodiversity Framework for adoption at the 15th Conference of Parties of the UN Convention on Biological Diversity. We welcome the vision of "living in harmony with nature by 2050" through the recovery of natural ecosystems with net improvements by 2050. To achieve this vision and to ensure that the next set of targets are met action to halt and reverse nature loss by 2030 must urgently be scaled up by all stakeholders.

Read the statement

Publications

Mirova

Mirova for Nature: progress report on our action in favour of biodiversity

Despite the health context, we have continued to implement our biodiversity roadmap. You will find below a progress report on our different work areas, as the IUCN (International Union for Conservation of Nature) World Conservation Congress took place in Marseille last September, with the aim of taking action for a nature-based reconstruction, for climate change and for post-2020 biodiversity.

Read our road map

Acting as a Responsible Investor 2020

The Article 173 of the French Law on energy and transition for Green Growth requires French investors to communicate how environmental, social, and governance issues are considered in their investment choices and processes. Going beyond compliance, the annual publication of our impact report is an opportunity for us to demonstrate why and how we have put sustainable development at the core of our investment policies and engagements.

Read the report

Gen Z: who else?

Meet Gen Z, which are individuals born between 1996 and 2016, and accounting for a third of the global total population1. They never knew a world without internet and are more likely to be connected much of the time. We also believe they are more socially and environmentally aware and not afraid to voice their opinion. They are entering the workforce and are inclined to choose companies that are more aware of sustainability. We think that other generations will have to adapt to them, not the other way around, and they better do it fast and sustainably, as we feel the Gen Z disruption is in motion.

Read the publication

[1] Source: BofA Global Research, OK Zoomer: Gen Z Primer. December 2020
The information provided reflects MIROVA’s opinion as of the date of this document and is subject to change without notice.

Corporate sustainability disclosure: keep it simple, make it useful

In June, the US Securities and Exchange Commission (SEC) finalized a public consultation on corporate climate disclosures, to which Mirova responded. We share below our convictions that we have conveyed to the SEC and across various jurisdictions and initiatives (the European Union, TCFD1, etc.) in order to build robust, meaningful and useful frameworks for corporate climate and sustainability disclosure.

Read the publication

[1] Task Force on Climate-related Financial Disclosures

Private Equity, a solution to accelerate the scale-up of innovative environmental solutions

In the same way as they do on the stock markets, investors in private equity have an essential role to play in the "decade of action" in which we have less than 10 years to attain the Sustainable Development Goals and make up a financing shortfall estimated at USD 2,500 billion per year1. Anne-Laurence Roucher, Deputy-CEO, and Marc Romano, Head of Mirova Impact Private Equity, tell us more about how this expertise was created and the prospects it offers for a wide-ranging investor clientele.

Read the article

[1] Source : United Nations - Sustainable Development Goals Business Forum

Events & Sponsoring

Second edition of the event "Agir pour le vivant": Mirova takes part

A look back at the second edition of the "Agir pour le vivant1" event, supported by Mirova, which was held in Arles from 22 to 29 August 2021. During these seven days of debates and meetings to raise awareness and try to design a model of society that integrates the challenges of the living world, the teams of Mirova present on site had the opportunity to share their experiences and their views on the role of finance in the environmental and social transition, but also to draw inspiration through inspiring visits to the Arles area.

Read the news

[1] Act for the living

 

act for the living

World Conservation Congress, a key event for Mirova

After several postponements, the IUCN (International Union for Conservation of Nature) World Conservation Congress was held in Marseille from September 3 to 11. Mirova was one of the sponsors of the event, along with the Caisse d'Epargne Provence-Alpes-Côte-d'Azur. Mirova's teams were present to share their experience in financing nature-based solutions and to discuss new actions with all stakeholders: leaders from governments, civil society, non-governmental organizations, the private sector and academia.

Read the news

 

iucn

Mirova in the spotlight at Natixis Investment Managers' digital event: Green Vision series

On September 16, Mirova participated in the digital event "Green Vision series - Our vision of the world" organized by Natixis Investment Managers. Philippe Zaouati discussed the topic: "When 'Climate Change' means 'System Change'". Anne-Laurence Roucher presented "The electrification of vehicles and its sectoral impact for investors".

Learn more (in French and reserved for professional investors only)

green vision series

Awards & Rankings

Mirova

Mirova, awarded in 6 categories at the 2021 Grand Prix de la Finance, including 'Favorite ESG Company

Already awarded in four categories at the 2020 edition of H24 Finance's "Grand Prix de la Finance", Mirova has been distinguished in 6 categories at the 2021 edition:

  • 1st place in the "Favorite ESG Company" category: Mirova
  • 1st place in the "ESG Personality of the Year" category: Philippe Zaouati, CEO of Mirova
  • 1st place in the "Climate" category for our Global Climate Ambition Equity strategy
  • 2nd place in the "Solidarity (Finansol label)"category: Jobs Creation France strategy
  • 3rd place in the "Environment" category for our Europe Environmental Equity strategy
  • 3rd place in the "Impact" category for our Global Sustainable Equity strategy

Read the news

For more information on the reward methodology, please refer to the website https://www.h24finance.com

Mirova's long-term management rewarded again at the 2021 “Corbeilles Mieux Vivre votre Argent”

At the 36th edition of the "Corbeilles Mieux Vivre votre Argent" awards, Mirova is proud to have received two awards that highlight the relevance of its long-term investment approach:

  • First place in the Corbeille Long Terme "Société de Gestion"1, which rewards the performance of the entire range of equity, bond and diversified funds over five years
  • The Certificate of the Best Equity Management over 5 years.
corbeilles

This is the third year in a row that the management company has been awarded: the Corbeilles, which are highly recognised in the market, honour the companies whose funds achieve the best financial performance over time.

Read the news

[1] Long-Term Corbeille "Asset Management Company"
For more information on the reward methodology, please refer to the website https://www.mieuxvivre-votreargent.fr

Mirova wins two awards at the Trophées de la Finance Responsable 2021

On September 27, 2020, Mirova received two awards at the Trophées de la Finance Responsable 20211, which aim to highlight management companies that place ESG2 - SRI3 considerations at the heart of their approach:

1st place in the "European Environmental Equities" category for the Mirova Europe Environmental Equity fund
1st place out of 3 in the "Climate Carbon 4 Award" category for the Mirova Europe Environmental Equity fund

[1] Responsible Investment Trophies
[2] Environmental, Social, and Governance
[3] Socially responsible investing
For more information on the reward methodology, please refer to the website https://www.trophees-finance-responsable.com/
Each investment is subject to risks, including the risk of capital loss. Past performance is not indicative of future performance. Reference to a ranking and/or a price does not indicate the future performance of the fund or the fund manager.
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