We are pleased to present the latest edition of our report “Acting as a Responsible Investor – Sustainability, Climate, and Biodiversity Report.” For the first time, it incorporates elements of voluntary reporting aligned with the recommendations of the Taskforce on Nature related Financial Disclosures (TNFD), in addition to those of the Taskforce on Climate-related Financial Disclosures (TCFD) and the regul tory requirements of Article 29 of the Energy-Climate Law. This document continues our previous work, “Mirova for Climate” and “Mirova for Nature,” and formalizes our approach to responsible investment, our achievements, and our consolidated roadmap regarding climate and biodiversity. In recent years, we have navigated a complex macroeconomic environment, where ESG¹ issues have often been overshadowed by political and societal tensions. Nevertheless, the climate and environmental emergency continues to grow and demands profound transformations now more than ever. Current transition plans remain largely insufficient to address the systemic challenges our societies face.

In this context, Mirova chooses to intensify its efforts and reaffirm its role as a transformative investor. This deep conviction is reflected in an integrated and transparent approach to responsible investment, as described in this report. Our objective remains unchanged: to offer our clients innovative solutions aimed at combining long-term value creation and contributing to building a more sustainable and inclusive economy, in line with our mission. It is crucial for investors to understand how different economic players—companies, local authorities, governmental organizations— approach the challenges of sustainable development.

Currently, the absence of a universally recognized benchmark leaves the definition of best practices open to individual interpretation. In an economy where evaluation initiatives are proliferating, it is essential for us to be transparent about the principles and indicators that guide our investment decisions, engagement actions, and reporting. This integrated report is therefore of critical importance as it presents our approach to climate, biodiversity, and ESG issues within a coherent framework. We detail our rigorous methodologies regarding ESG and impact analysis, based on the principle of double materiality, which considers both the financial risks associated with sustainability factors and the positive contributions of our investments to the economy and society. We are also proud to share our progress in understanding the dependencies and impacts related to nature, which enable us to develop relevant and beneficial investment solutions for nature, to more accurately assess risks and opportunities, and to report our impact to our clients and stakeholders.
I wish you an enjoyable reading of this report, a reflection of our commitment and ambition to act as a responsible investor.