Mirova is committed to transparency and its engagement approach seeks tangible positive impacts.
To ensure traceability, efficiency and reliability of their engagement actions, the in-house RI research teams fill out and keep updated “OCTAVE”*, an in-house tracking database.
Its purpose is twofold:
-To track any changes in companies’ practices that would result from the dialogue process, and therefore appropriately update the Sustainability Opinion depending on the outcomes.
-To provide data:
.for the engagement report performed on a yearly basis on Mirova’s investment scope,
.for custom reports provided to clients upon request (please refer to LEA.16 for further details).
The database is comprised of the following data: the name of the issuer, the goals of the engagement, details on meetings held and other interactions with the company, the achieved improvements, and the final result of the engagement.
As regards individual engagement, Mirova's RI Research team targeted 189 issuers in 2019. This dialogue was carried out as part of the ESG analysis, or while analysing AGMS resolutions. 389 meetings (or others kinds of direct contacts e.g. calls, site visits, emails)) were held to this end.
In our detailed engagement report, available online and updated yearly, Mirova discloses several kinds of information:
-The breakdown of companies targeted by sector
-For each above-mentioned sector, the report also discloses an explanation of the ESG sectoral issues, the number of companies targeted, a summary of the main achievements in the reporting year, a case study and the breakdown of engagement carried out by topics.
-A focus on cross-investment engagement themes, for example on the G-pillar. Mirova sent an email to all companies in its portfolios outlining its expectations with regards integration of sustainability in their governance practices.
With regard to collaborative engagement, Mirova participated in engagements that targeted a total of more than 1,000 issuers in 2019. 2019 was an extraordinary year for Mirova as it launched a collaborative engagement with regards to women empowerment in companies particularly to encourage companies to sign and adhere to the UN’s Women Empowerment Principles. This engagement targeted all companies found in the MSCI World index which consists of more than 1,000.
In 2019, Mirova also joined other collaborative initiatives led by RI professional bodies or by other investors, for example:
- Access to Nutrition Index
- Arctic drilling in Wildlife Sanctuary
- European sustainable plan ESG disclosure
- Climate 100 (+50)
- European transport
- EXXON Mobile letter
- Science Based Targets Initiative
- Global investor engagement on meat sourcing
- Investor statement on the Amazon fires
- Tobacco Free Finance Pledge
- Thirty Percent Coalition
- WDI - Workforce Disclosure Initiative - phase II
- Access to Medicine Index
- Global investor Statement to governments on climate change
- Antibiotics Overuse in livestock
- Sustainable Protein
- Investor Decarbonisation Initiative
Mirova equally participated in some collaborative engagements launched by PRI's platform (e.g. tax practices and sustainable forests).
Mirova has also defined and implemented an advanced public policy engagement approach that notably includes investor statements targeting public policy makers. This approach is addressed in the PRI module "Strategy and Governance" (please refer to questions SG.09 to SG.11).
Further information about the ESG topics covered by individual and collaborative engagement are disclosed in Mirova's annual engagement report, publicly available on its website:
*Online Collaborative Tool for Analysis, Voting and Engagement