UK Stewardship Code

Mirova successfully has successfully joined the list of signatories to the UK Stewardship Code, published by The Financial Reporting Council (FRC) after an extensive review process which considered organisations’ investment styles, sizes and types, bringing up the total number of signatories to 236, with assets under management of £40.7tn. 

Committing to high standards

The UK Stewardship Code 2020 (‘the Code’) is a set of 12 Principles for asset owners and asset managers, and a separate set of six Principles for service providers. The Code sets high expectations for how investors, and those that support them, invest and manage money on behalf of UK savers and pensioners, and how this leads to sustainable benefits for the economy, the environment and society. It also recognises that asset owners and asset managers play an important role as guardians of market integrity and in working to minimise systemic risks related to climate change, social issues and governance, as well as being stewards of the investments in their portfolios.

A Mission-Driven[1], B Corp™[2] certified company, Mirova offers its clients investment solutions combining the search for financial performance with environmental and social impact. Through multidisciplinary teams united around the same vision, the variety of our areas of expertise, and our ability to innovate and create partnerships with the best experts, we seek to direct capital flows towards the needs of investment in sustainable, inclusive, and value-creating economy.

As a natural extension of these two corporate commitments, we believe being responsible stewards of capital and asset allocation for our valued clients is naturally in line with the key principles of the UK Stewardship Code. Applying to the FRC was a firm-wide commitment as Mirova aims to create long-term value for not only its shareholders, but for all stakeholders, and fully considers the social and environmental impact of all its decisions.

[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.