Mirova awarded B Corp status and becomes ‘Mission-led company’ for its corporate responsibility approach

Published on 12/10/2020 Press releases

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.

Mission statement

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.”

[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.
[2] Since 2006, the B Corp movement has been promoting strong values of change throughout the world to make businesses “a force for good” and to distinguish those which reconcile profit (for profit) and collective interest (for purpose). B Corp’s goal is to certify companies that integrate social, societal and environmental objectives into their business model and operations. More details here
References to a ranking, prize or label do not anticipate the future results of the latter, or of the fund, or of the manager.