Mirova awarded B Corp status and becomes ‘Mission-led company’ for its corporate responsibility approach
Paris, 10, December 2020, MIROVA announces it has signed up to become a ‘Mission-led Company’1 , a French accreditation whereby signatories must define their "raison d'être" and one or more social, societal or environmental objectives beyond profit.
The B CorpTM Certification – international external recognition
Receiving the B CorpTM 2 certification label, after an evaluation process which awarded Mirova an "excellent" score, is an assurance of the credibility of the company's entire corporate responsibility approach. The label is recognised internationally, and is testament to Mirova’s environmental and social commitment.
By setting out its raison d’être and social and environmental objectives in its articles of association today, Mirova is formalising its mission to increase its positive impact on both environmental issues and inequality:
“Finance should be a tool for steering the economy towards models which, on the one hand, preserve and restore ecosystems and the climate, and on the other hand, support social inclusion, health and well-being. “As pioneers of this movement, we take an innovative approach to all our means of action: investment, research, shareholder engagement and influencing the financial community. We always seek to reconcile societal and financial performance by placing our expertise in sustainable development at the heart of our investment strategies. In this way, the solutions which we offer to our clients aim to develop a new way of saving to contribute to a more sustainable and inclusive economy.”
Philippe Zaouati, CEO of Mirova, comments: “We need to reform businesses because we need to reform society. Businesses have a role to play in responding to environmental issues and social tensions: the social divide, inequality… We can no longer leave it all up to the State.”
Already a pioneer in sustainable investing, Mirova has decided to become a Mission-led company to structure and raise awareness of its approach, while demonstrating that the role of an asset management company can go far beyond fiduciary responsibility. It also strengthens its commitment to the profound economic shift towards a fairer and more sustainable model.
Mission Committee of Leading Global Experts Engaged
To bring its raison d’être to life, Mirova’s teams have established five objectives:
- Make Mirova’s positive impact a systematic objective of its investment strategies
- Cultivate and develop its social and environmental expertise
- Constantly innovate in terms of its products and approaches to achieve this impact
- Accompany its stakeholders towards a sustainable economy and finance
- Respect the environmental and social standards which Mirova observes
Mirova has created a Mission Committee made up of leading experts, who will monitor the implementation. The committee will also guide the company towards areas of improvement which will help Mirova meet its objectives and will be responsible for publishing an annual mission report.
Philippe Zaouati adds: “The nomination of experts in environmental issues and sustainable finance to this Mission committee is testament to the sincerity of our approach.”
In addition to two collaborators from Mirova, the committee will be composed of:
- Monique Barbut, former secretary general of the United Nations Convention to Combat Desertification (UNCCD) and board member of WWF France
- Fella Imalhayene, Managing Director Global Compact France
- Cary Krosinsky, Professor at Yale University
- Pierre-René Lemas, President of France Active
- Arnaud Leroy, President of the French Agency for environmental transition (ADEME)
- Alexis Masse, President of FIR (Responsible Investment Forum), will chair the committee
- Stéphanie Pfeifer, Executive Director of Institutional Investors Group on Climate Change
- Constance de Poncins, Managing Director AGIPI - Jean Raby, CEO of Natixis Investment Managers
- Blanche Ségrestin, Co-coordinator of the Chair "Business theory, models of governance and collective creation" at Mines Paris Tech
Mathilde Dufour, Deputy-Head of Sustainability Research, comments: “We really believe in the logic of ecosystems and positive value chains. By receiving this recognition, we are also joining a community of new partners, and we hope to continue our progression and evolution while offering new ideas and expertise.”