Mirova Renews Its B Corp Certification with Significant Score Improvement
Mirova is proud to announce the renewal of its B Corp certification1 for an additional three years. For the 2022-2023 period, Mirova achieved an overall score of 136.1 points, representing a notable increase of 22.2 points compared to the initial score of 113.9 points recorded during the previous evaluation (2021).
Since its inception, Mirova has established itself as a conviction-based asset management firm fully dedicated to sustainable investing. Our status as a purpose-driven company,2 adopted in 2020, reflects this ambition: we view our societal role not only through the lens of fiduciary responsibility but also through the interests of all our stakeholders. The B Corp certification, which is based on shared standards, complements this approach by demonstrating our commitment at an international level.
As a reminder, the certification threshold is set at 80, while the average score for companies in our sector is 80.7.
The results highlight significant advancements in several key areas:
- Governance: 17.6 points (up from 9.3 points)
- Employees: 34.4 points (up from 25.8 points)
- Community: 15.8 points (up from 10.9 points)
- Environment: 9.7 points (stable compared to 10.1 points)
- Clients (core business): 58.4 points (slight increase from 57.7 points)
While the progress made is particularly encouraging, these results further motivate us to enhance our positive impact on all our stakeholders.
I am particularly proud of the progress made in terms of CSR3, the initiatives taken for our teams, and our good governance practices. Although there are still areas for improvement, the efforts undertaken to align our practices with our role as an impact investor have been recognized once again. We also wish to share our advancements and encourage other companies to follow this path that drives us to innovate.
1B-Corp Certification is a designation that a business is meeting high standards of verified performance, accountability, and transparency on factors from employee benefits and charitable giving to supply - chain practices and input materials. Certified since 2020, Mirova reapplies for the B Corp Certification every three years. The annual fee for maintaining the certification is €30,000 as well as a €250 for a submission fee.
To find the complete B Corp certification methodology, please visit the B Corp website. The reference to a ranking or a label does not prejudge the future performance of the funds or its managers.
2Introduced 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.
3Corporate Social Responsibility (CSR)
Climate, Nature, Sustainability report (LEC 29, TCFD, TNFD)
Through this report, we invite you to discover the opinion of our mission committee on how we have contributed to the statutory objectives of our mission in 2024, as well as the actions implemented to ensure the exemplary nature of our internal practices.
Position Paper
