Engagement Policy and Priorities for 2026

Engaging for Transition in a Fragmented World

he world in which we invest is no longer merely uncertain: it is fragmented, accelerated, and under growing constraints. Geopolitical splits, technological disruption, and mounting pressures on natural and social resources are profoundly reshaping the conditions for long-term value creation. In this context, the question is no longer whether sustainability remains relevant, but how it can be exercised with greater clarity, rigor, and real-world impact.

At Mirova, we firmly believe that today’s volatility does not undermine the importance of sustainability as an investment objective; on the contrary, it reinforces its necessity. The integration of environmental, social, and governance issues, grounded in financial materiality, remains inseparable from a long-term perspective. It is critical information for navigating a world where systemic risks are intensifying and transition pathways are becoming decisive.

Against this backdrop, our engagement and voting strategy is not an adjunct to investment: it is a strategic component of it. Faced with declining international cooperation and the rise of national dynamics that may run counter to climate and social objectives, we have chosen an active, ambitious, and global approach to ownership. Shareholder engagement enables us to maintain structured dialogue with companies, promote robust and comparable frameworks, while remaining attentive to local realities. Our ambition is clear: to ensure that fragmentation does not derail the transition but instead contributes to sustainable and local long-term value creation.

Technological transformations illustrate this complexity particularly well. The rapid rise of artificial intelligence and digitalization opens up significant opportunities in energy efficiency, medical innovation, and crisis resilience. Yet it also brings increased pressure on resources, social risks, and new governance challenges. As investors, our responsibility is to support innovation in a way that aligns with sustainable trajectories, by demanding transparency, anticipation of impacts, and responsible practices across the entire value chain.

At the same time, environmental pressures have reached a critical level. Overshooting climate targets, reaching critical thresholds of multiple tipping points, and the erosion of natural capital call for an acceleration of efforts, both in mitigation and adaptation. We continue to advocate for science-based targets, credible transition plans, and tangible outcomes, including in carbon-intensive sectors whose role will be decisive in enabling the energy and technological transitions.

The transition, however, cannot be sustainable unless it is also just. Social inequalities, employment instability, and wealth concentration are undermining social cohesion and, more broadly, the stability of our democracies. Integrating human capital, just transition, and stakeholder inclusion are prerequisites for economic resilience. Here again, shareholder engagement is a key lever for promoting better practices and the development of comparable benchmarks.

This Engagement Policy & Priorities reflects our conviction that active ownership is a central tool of transition finance. By combining expertise, methodological innovation, and data-driven tools, we aim to strengthen the effectiveness of our engagements and to measure their real-world impact. Accelerating the transition is not an option, it is a collective responsibility. At Mirova, we choose rigor, consistency, and action.