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Mirova

PRI reporting framework 2020

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Organisational Overview
Basic information [OO 01 - 09] Asset class implementation gateway indicators [OO 10 - 12] Peering questions [OO LE 01 - HF 01]
Strategy and Governance
Investment policy [SG 01 - 04] Objectives and strategies [SG 05 - 06] Governance and human resources [SG 07 - 08] Promoting responsible investment [SG 09 - 11] Outsourcing to fiduciary managers and investment consultants [SG 12] ESG issues in asset allocation [SG 13 - 15] Asset class implementation not reported in other modules [SG 16 - 17] Innovation [SG 18] Communication [SG 19]
Direct - Listed Equity Incorporation
ESG incorporation in actively managed listed equities [LEI 01 - 10] Implementation processes [LEI 01 - 10] (A) Implementation: Screening [LEI 04 - 06] (B) Implementation: Thematic [LEI 07] (C) Implementation: Integration of ESG factors [LEI 08 - 10] Outputs and outcomes [LEI 12 - 13]
Direct - Listed Equity Active Ownership
Overview [LEA 01] Engagement [LEA 02 - 08] Outputs and outcomes [LEA 09 - 11] (Proxy) voting and shareholder resolutions [LEA 12 - 21]
Direct - Fixed Income
ESG incorporation in actively managed fixed income [FI 01 - 12] Implementation processes [FI 01 - 03] (A) Implementation: Screening [FI 04 - 06] (B) Implementation: Thematic [FI 07 - 09] (C) Implementation: Integration [FI 10 - 12] Fixed income - Engagement [FI 14 - 16] Outputs and outcomes [FI 17 - 18]
Direct - Infrastructure
Overview [INF 01 - 02] Fundraising of infrastructure funds [INF 03 - 04] Pre-Investment (Selection) [INF 05 - 09] Selection, appointment and monitoring of third-party infrastructure operators [INF 10] Post-investment (monitoring and active ownership) [INF 11 - 16] Overview [INF 11] Infrastructure Monitoring and Operations [INF 12 - 14] Infrastructure Maintenance [INF 15] Stakeholder engagement [INF 16] Outputs and outcomes [INF 17 - 18] Communication [INF 19]
Confidence building measures
Confidence building measures [CM1 01 - 07]
Export Public Responses
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You are in Strategy and Governance » Promoting responsible investment

責任投資の促進

SG 09. Collaborative organisations / initiatives

09.1. 報告年度に組織がメンバーであったり、参加していた協働組織やイニシアチブ、ならびにそこで組織が果たした役割のレベルを選択してください。

当てはまるもの全てを選択してください

イニシアチブにおける組織の報告年度の役割（定義を参照）

組織のイニシアチブへの関与の度合について、簡単に説明してください。[任意]

Mirova is a signatory and member of several PRI committees and networks: 

- The PRI Global policy network
- Engagement on corporate tax responsibility

Mirova also took part in collaborative engagement initiatives led by the PRI (please refer to LEA section for further details), is a signatory of the PRI Montreal Carbon Pledge (http://www.mirova.com/en-INT/news/News/Mirova-signs-Montreal-Carbon-Pledge-19953) 

イニシアチブにおける組織の報告年度の役割（定義を参照）

組織のイニシアチブへの関与の度合について、簡単に説明してください。[任意]

Mirova is a member of France Invest (previoulsy Association Française des Investisseurs pour la Croissance), which is a group that connects French asset managers. Members of France Invest are actively engaged in financing local growth in France through investing in SMEs.

 

イニシアチブにおける組織の報告年度の役割（定義を参照）

組織のイニシアチブへの関与の度合について、簡単に説明してください。[任意]

Mirova is a signatory to the initiative, through its parent-Group, Natixis. 

イニシアチブにおける組織の報告年度の役割（定義を参照）

組織のイニシアチブへの関与の度合について、簡単に説明してください。[任意]

Mirova continued to support the initiative signed in 2017 and opened dialogue continued with 50 companies.

イニシアチブにおける組織の報告年度の役割（定義を参照）

組織のイニシアチブへの関与の度合について、簡単に説明してください。[任意]

Mirova Natural Capital, subsidiary of Mirova, is a Member of the Global Impact Investing Network, which seeks to promote impact finance internationally.

イニシアチブにおける組織の報告年度の役割（定義を参照）

組織のイニシアチブへの関与の度合について、簡単に説明してください。[任意]

Mirova is a member of GRESB and a founding member of GRESB Infrastructure, a global sustainability benchmark for infrastructure assets. This new investor-led initiative has partnered with GRESB, the global standard for portfolio-level sustainability assessment in real estate, to develop and establish a consistent global sustainability framework for the infrastructure sector.

イニシアチブにおける組織の報告年度の役割（定義を参照）

組織のイニシアチブへの関与の度合について、簡単に説明してください。[任意]

Mirova participates in ICMA’s Green Bond Principles, which seeks to create unifying standards for the green bond market through transparency and disclosure. Mirova also participates in the Board and executive committee of the GBP, as well as the working groups “Defining Green / labels”, “Impact Investing” and a working group on social bonds.

Mirova is also a member of the Climate Bonds Initiative. 

イニシアチブにおける組織の報告年度の役割（定義を参照）

組織のイニシアチブへの関与の度合について、簡単に説明してください。[任意]

Mirova, formerly a member of IIGCC, kept following in 2019 the activities of the Institutional Investors Group on Climate Change, a forum for collaboration  of institutional investors on climate change. 

イニシアチブにおける組織の報告年度の役割（定義を参照）

組織のイニシアチブへの関与の度合について、簡単に説明してください。[任意]

Mirova is a member of CERES and the Investor Network on Climate Risk. CERES is global organization that acts to motivate businesses to act on climate change. The Investor Network on Climate Risk is a grouping of over 120 institutional investors that address climate change while investing in low-carbon opportunities. Mirova has regularly supported some collaborative engagements organised by CERES. 

 
          French SIF, Italian SIF, Spanish SIF, UK SIF, US SIF, and EUROSIF through Vice-Presidency of the French SIF

イニシアチブにおける組織の報告年度の役割（定義を参照）

組織のイニシアチブへの関与の度合について、簡単に説明してください。[任意]

Mirova’s Policy and advocacy officer, Laurene Chenevat, is a member of the board and Vice-President of the French SIF (FIR). As such, she contributes to represent the French SIF (FIR) at Eurosif’s board. Ladislas Smia, co-head of ESG research, is an alternate member. 

Mirova also financially supports the FIR’s award of European Research "Finance and Sustainable Development".

In addition to this deep involvement within the FIR,  Mirova is also a member of : the Italian SIF, the Spanish SIF, the UK SIF and the US SIF.

イニシアティブにおける組織の報告年度の役割（定義を参照）

組織のイニシアチブへの関与の度合について、簡単に説明してください。[任意]

Mirova has been a board member of the investement commission.

Mirova is also a member of the Positive Impact Finance Steering Committee and working group . 

イニシアチブにおける組織の報告年度の役割（定義を参照）

組織のイニシアチブへの関与の度合について、簡単に説明してください。[任意]

Mirova is a signatory to the initiative, through its parent-Group, Natixis.  

 
          - Coalition for Private Investment in Conservation, 
- The International Emissions Trading Association (IETA), 
- the International Carbon Reduction and Offset Alliance (ICROA); 
- Insetting Platform

イニシアチブにおける組織の報告年度の役割（定義を参照）

組織のイニシアチブへの関与の度合について、簡単に説明してください。[任意]

Through Mirova-Althelia,  Mirova is a member of:

- The Coalition for Private Investment in Conservation is a coalition of actors from the private sector and NGOs that seeks to address the issue of the lack of investments in conservation efforts, through the identification of possible investments  in this field; 

- The International Emissions Trading Association (IETA) is a non-profit business association, established in 1999 to serve businesses engaged in market solutions to tackle climate change. 

- the International Carbon Reduction and Offset Alliance (ICROA), a non-profit organisation made up of the leading carbon reduction and offset providers in the voluntary carbon market.

- Insetting Platform: The platform gathers companies that share a same approach aiming at balancing the company with its ecosystem through environmental programs, transparency, a rigorous methodology and information sharing. 

 
          French public label SRI Committee

イニシアチブにおける組織の報告年度の役割（定義を参照）

組織のイニシアチブへの関与の度合について、簡単に説明してください。[任意]

The SRI Label is a French investment label that provides individual and institutional investors with a greater level of clarity on socially responsible investment funds. A committee was created to ensure the good functioning of the label and its development, of which Mirova is a member through Herve Guez, CIO and Director of research. 

 
          Paris Europlace’s Finance For Tomorrow initiative

イニシアチブにおける組織の報告年度の役割（定義を参照）

組織のイニシアチブへの関与の度合について、簡単に説明してください。[任意]

Mirova is member of Paris Europlace Finance for Tomorrow initiative, that favors the development of sustainable finance in France.

Mirova actively contributed to its launch in coordinating a dedicated report and Philippe Zaouti, Mirova’s CEO, chaired the initiative until mid-2019. 

Since 2017, Mirova, through its Policy and advocacy officer, was also co-pilot of the public affairs working group. 

 
          The Technical Expert on Sustainable Finance (TEG)

イニシアチブにおける組織の報告年度の役割（定義を参照）

組織のイニシアチブへの関与の度合について、簡単に説明してください。[任意]

Following the contribution of Philippe Zaouati to the EU High Level Expert Group on sustainable finance, the EU Commission has released its action plan on sustainable finance. In the framework of its implementation, Mirova has been again selected through its expert Manuel Coeslier, portfolio manager, to contribute the EU Commission’s Technical Expert Group (TEG) on sustainable finance, to help define the characteristics of low-carbon benchmarks.

SG 09.2. Assets managed by PRI signatories (Not Applicable)

SG 10. Promoting RI independently

10.1. 組織が、協働的イニシアチブとは別に、独自に責任投資を推進しているかどうかについて記載して下さい。

10.2. 組織が協働的イニシアチブとは別に、独自に責任投資を推進するために行っているものを明示して下さい。選択した行動の目的に貢献するために組織が果たす役割と通常の行動頻度について説明して下さい。

説明 

          88 trainings, formations, events have been done in 2019 (concerning green bond, SRI in equity, SRI in general and quizz to check sustainable development knowledge/awareness of clients). 
For example: 
-Informative presentations on ESG issues, regularly held for clients (primarily institutional and employee savings fund clients), particularly during portfolio management committees or FCPE supervisory boards meetings for employee savings funds
-Regular meetings and dialogue with brokers about sustainability issues: Mirova explicitly encourages sell-side analysts to develop and improve their ESG research as part of its engagement process. Mirova has formalized its requirements and takes them into account while assessing sell-side research during the biannual “broker review”:

行動の頻度

説明 

          Mirova supports three university chairs: 

- The Energie et Prospérité (Energy and Prosperity) Chair which was created in 2015 to clarify decisions made by public and private entities steering the energy transition. The research conducted is related to the effects of the energy transition on the economy (growth, employment, debt), different industries (transport, construction, energy production, finance), and their related means of financing. Housed by the Fondation du Risque, the Chair is supported by the ADEME, Air Liquide, the Agence Française de Développement, Caisse des Dépôts, Mirova, Schneider Electric, and the SNCF.

- The Théorie de l’entreprise: modèles de gouvernance & création collective (Company Theory: Corporate Governance & Collective Creation Models) Chair which is directed by Blanche Segrestin at the Centre de Gestion Scientifique at the MINES ParisTech School. The Chair’s research essentially deals with a vision of the company as a collective creation and re-vamping models and mechanisms for fair and solidary governance. Mirova is associated with research articles published by students at the Chair on governance issues.

- In 2018 Mirova initiated a partnership with Yale University on sustainable finance. The aim of the initiative is to bring together three different types of schools: Legal, Business and Forestry with a focus on the quality of data to provide investors and companies with a relevant mapping of environmental “hot spots” for better environmental assessment.

行動の頻度

説明 

          Direct contribution and inputs to some policy papers (such as for the Energy and Prosperity research chair “Adopting a global vision for the energy transition financing”)

行動の頻度

説明 

          Direct advocacy and collaborative engagement actions implemented in different fora favored better transparency and disclosure, in particular, Mirova very proactively advocated for the implementation of climate disclosure guidelines for the financial sector at European level in the framework of the EU Commission High Level Expert Group on sustainable Finance and for all benchmarks in the framework of the  EU Commission Technical Expert Group.

行動の頻度

説明 

          In 2019, Mirova has participated to more than 40 external conferences as a speaker to promote responsible investment. Our CEO Philippe Zaouati was also involved in the closing remarks of the PRI at the september conference in Paris.

行動の頻度

説明 

          Mirova’s RI specialists regularly produce research papers, publicly available on Mirova’s website: http://www.mirova.com/en-UK/p/Library/Publications

行動の頻度

説明 

          Strong involvement in many RI professional bodies, as part of its engagement approach. In addition to its dialogue with issuers, Mirova seeks to regularly share views and ideas with peers to collaboratively enhance transparency, harmonization and professionalization of the RI industry. Mirova gives high priority to white papers and contributes to structural discussions on Responsible Investment, particularly through an active presence in the main dedicated professional RI bodies. Over the last three years, Mirova has significantly expanded its initiatives in this respect and is today represented in the primary organizations that promote Responsible Investment and the adoption of the PRI, to come up with a common extra-financial approach, and therefore to enhance transparency and disclosure of responsible investment practices across the investment industry.
-An active public policy engagement.

行動の頻度

説明 

          Mirova contributes regularly to consultations on sustainable finance (TCFD, European Commission) and contributes directly to some of their working groups (such as the High Level Expert Group or the Technical Expert Group on sustainable finance organised by the EU Commission)

行動の頻度

説明 

          Philippe Zaouati, Mirova’s CEO, writes and regularly publishes articles, notably on the major key social networks such as LinkedIn. In 2019, he published 10 articles directly linked to the promotion of sustainable finance: to support the European Commission Action Plan on its sustainable finance, about impact measurement, about gender equality and the importance to promote women, about blended finance, about labels and finally about the need to build a resilient more sustainable capitalism 

Also, thanks to its renowned RI expertise, Mirova has been featured in 469 press articles in 2019 as well as in 4 op-eds, at both local and international levels. This extensive media coverage is a way of promoting Mirova’s approach, but also more broadly responsible investment practices.

Beyond articles, Mirova released a public report for French Ministries in favor of blended finance in France to foster private financing of the energy and ecological transition "for the creation of France Transition' (see below)

行動の頻度

説明 

          Mirova is a signatory and member of several PRI committees and networks: 

- The PRI Global policy network
- Engagement on corporate tax responsibility

Mirova also took part in collaborative engagement initiatives led by the PRI (please refer to LEA section for further details), is a signatory of the PRI Montreal Carbon Pledge (http://www.mirova.com/en-INT/news/News/Mirova-signs-Montreal-Carbon-Pledge-19953)

行動の頻度

説明 

          Membership of the board of the French SIF and EUROSIF. Laurene Chenevat, policy and advocacy officer, is a member and Vice-President of the French-SIF Board. As such, she represents the French SIF at Eurosif’s  board. 

Mirova is also a member of the US, UK, Spain and Italien SIF and of the The Hong Kong Green Finance Association (HKGFA).

行動の頻度

行動の頻度 

          Developed Finance For Tomorrow (within Paris Europlace), Paris marketplace initiative for sustainable finance

説明 

          Mirova has been a pivotal player to develop within Paris Europlace (French marketplace association) FInance for Tomorrow, the Paris initiative to organise and promote sustainable finance in Paris and internationnally. Philippe Zaouati has chaired the initiative since its creation in 2017 until mid-2019 and Mirova also co-leads the Policy Commission.

行動の頻度

10.3. 組織が責任投資の推進のために、報告年度中に参加した追加の活動およびイニシアチブがあれば、それらを記載して下さい。[任意]

In 2018, Philippe Zaouati as the Chair of FInance for Tomorrow and CEO of Mirova, along with Pascal Canfin, General Director of WWF France, was assigned by the French Ministries of the Economy and of the Environment to work on a public report to develop dedicated blended finance tools to accelerate private investment in the French energy transition. This report, for which the Mirova Policy officer was the rapporteur, was submitted to the two ministers in December 2018. Its results are now being analysed to create France Transition, a dedicated initiative to foster collaboration among French public institutions to develop blended finance instruments for targeted transition issues with a lack of financing. 

The report is publicly available on the Finance for Tomorrow and WWF website: https://financefortomorrow.com/2018/12/18/rapport-canfin-zaouati/

In 2019, Prime Minister Edouard Philippe has announced the implementation of the recommendation of the report with the creation of “France Ecological Transition”, currently examined by the two Ministries in charge of finance and of the environment.

SG 11. Dialogue with public policy makers or standard setters

11.1. 報告年度において、責任投資を支援するために、組織が単独で、あるいは他組織との協働により、政策立案者や規制当局との対話を行ったかどうかを記載してください。

はいの場合

11.2. 使用した方法を選択してください。

具体的に記入してください 

          participated in expert groups set up by policy-makers.

11.3. （単独でまたは協働により）政府または規制当局に書面を提出した場合、その書面が一般に入手できるかどうかを記載してください。

URL https://ec.europa.eu/info/sites/info/files/180131-sustainable-finance-final-report_en.pdf
URL http://www.paris-europlace.com/sites/default/files/public/rapport_parisgreensustainablefi_2016_2.pdf
URL https://www.linkedin.com/pulse/il-faut-sauver-le-label-isr-philippe-zaouati

11.4. 組織が公共政策立案者または規制当局と話し合いを行った主なテーマの概略を記載して下さい。

As a front line player in the RI industry, Mirova is committed to engage in favour of responsible and sustainable finance through its advocacy/public policy engagement. Mirova’s engagement approach towards public policy-makers results from its business model and investment philosophy, which actively promote conviction-based investment approaches seeking value creation from economic, environmental and social perspectives.

Since 2016, Mirova has actively conducted advocacy activities, which are fully based on the objectives and principles of its responsible investment policy. Mirova’s advocacy strategy, which promotes responsible investment towards public policy makers, in achieved in several ways (drafting of position papers and other publications, direct dialogue with public authorities, contribution to public consultations,  participation in working groups, involvement in RI professional bodies, participation in conferences/events, sponsorship of academic research, etc.).

Advocacy Goals: The purpose is to develop sustainable finance and to achieve higher standards for the asset management industry, so as to collectively build a finance with positive environmental and social impacts. Advocacy is conducted in order to promote our vision within the responsible investment market. We speak with national and transnational regulatory bodies as well as with RI professional organisations to encourage specific regulations and standards for sustainable finance.

Mirova’s overall advocacy objectives could be summarised as follows: 

- To provide investors with the means to identify the needs of sustainable investment (disclosure);
- To remove the obstacles to the development of the sustainable investment market and to provide the tools needed to do so (labels);
- To strengthen sustainable investment within the financial industry.

Main advocacy actions in 2017 -2018 and 2019: 

Development of sustainable finance

- Membership and very active contribution to the EU Commission’s High-Level Expert Group (HLEG) on sustainable finance works, intermediary and final reports; and close following of the EU Action Plan on sustainable finance; 

- Chairmanship of and contribution to Finance For Tomorrow, the Paris Europlace Green & Sustainable Finance Initiative; that organised in particular the Climate Finance Day;

- Co-lead of the Finance for Tomorrow Policy commission that organises a dialogue among public and private stakeholders on sustainable finance; 

- Advocacy actions at the French level to support an improved governance of French RI public labels (SRI and TEEC) and the coherence of the French approach to responsible investment (with regards to the development of a French Market Authority (AMF) doctrine on responsible investment)

- Advocacy actions at the French level to support the development of RI, green and solidarity investment products through the development of life-insurance

- Technical support to the EU Commission to help develop an EU ecolabel that can be both ambitious and realistic for investment funds on the basis of the EU taxonomy; 

Support to climate action and disclosure

- Selection and contribution of Manuel Coeslierportfolio manager, to the EU Commission’s Technical Expert Group (TEG) on sustainable finance, to help define the characteristics of low-carbon benchmarks.

- Response to public consultations: Task Force on Climate-Related Financial Disclosures (TCFD)

- Support to 6 investors statements and letters for more climate action and TCFD disclosure guidelines (2017); 

Publications

- Drafting of a publication for Finance for Tomorrow explaining the stakes of the HLEG interim report.

- Publication of the Canfin-Zaouati report "for the creation of France-Transition" for the French Ministries of the Economy and of the Environment to develop blended finance tools to foster private investment for the energy transition, especially through dedicated involvement of French public finance institutions; 

- Support university research, with financial support for the Energy and Prosperity Chair.

The above-mentioned advocacy initiatives are described in Mirova’s annual engagement report, available on its website: http://www.mirova.com/en-INT/voting-and-engagement.
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