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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 » Governance and human resources

Governance and human resources

SG 07. RI roles and responsibilities

07.1. Indicate the internal and/or external roles used by your organisation, and indicate for each whether they have oversight and/or implementation responsibilities for responsible investment.

Roles

Select from the below internal roles 

          The executive Committee Members

Other description (1) 

          Other support functions (operations, compliance...)

07.2. For the roles for which you have RI oversight/accountability or implementation responsibilities, indicate how you execute these responsibilities.

Mirova is a key player on the RI market. Given this positioning, the incorporation of ESG in its investment processes is an integral part of its business model and is a daily priority for the board, the top management and the operational teams.

Oversight: Responsible Investment objectives are directly linked to the Long-Term Business Development Plan. The latter is defined by the CEO (Philippe Zaouati) and the Deputy CEO (Anne-Laurence Roucher). It includes both annual objectives and budget, and the executive committee closely monitors achievements and performances, at least biannually. The board also plays an oversight role by monitoring RI activities while reviewing the Long-Term Business Development Plan.

Implementation: Mirova employs 90 multidisciplinary SRI experts who share a common mission: to seize opportunities arising from sustainability issues. Mirova’s teams are therefore all involved in the implementation of the RI strategy, whether they are investments teams (PMs, ESG analysts) or support functions (business development, operations, compliance/internal control/risks, etc.). It is also worth noting that Mirova works in partnership with specialized firms such as rating agency Vigeo and carbon analysis company Carbone 4, whith whom Mirova developed bespoke partnerships. 

07.3. Indicate the number of dedicated responsible investment staff your organisation has.

90 Number

07.4. Additional information. [Optional]

The company has been growing rapidly since its creation: Mirova now employs 90 multi-disciplinary SRI experts with complementary backgrounds: specialists in thematic investment management, engineers, financial and ESG analysts, specialists and experts in socially-conscious finance and project financing.

It is organised around several teams:

Expertise and investment management:

-       Responsible Investment Research

-       Equity, fixed-income Paris BU

-       Equity, fixed income US BU

-       Energy and ecological transition BU

-       Natural Capital BU

-       Finance

-       Operations

-        Marketing

-        Business services

-         External Communication

-         Compliance, Legal Risks

-        Human resources - internal communication

-       IT mission 

-        MNC integration

In 2019, Mirova completed the acquisition of Mirova Natural Capital (previously Althelia Ecosphere). Mirova Natural Capital the new entity, is a subsidiary of Mirova and brings together the required strategic vision and expertise to scale up this nascent but promising market, and serve institutional clients seeking market-level returns through high-impact investment solutions addressing major global environmental challenges such as climate change, protection of landscapes, biodiversity, soil and marine resources. 

Mirova also opened in the US a dedicated Mirova subsidiary within Ostrum AM US. Since April 1, 2019, these activities have been transferred to Mirova US, which is wholly owned by Mirova.

Additional support functions have been (re)internalised withing Mirova: Risks, Human Resources, Legal and Finance

SG 07 CC. Climate-issues roles and responsibilities

07.5 CC. Indicate the roles in the organisation that have oversight, accountability and/or management responsibilities for climate-related issues.

Board members or trustees

Chief Executive Officer (CEO), Chief Investment Officer (CIO), Chief Risk Officer (CRO), Investment Committee

Other Chief-level staff or heads of departments

Portfolio managers

Investment analysts

Dedicated responsible investment staff

Investor relations

External managers or service providers

Other role, specify (1) 

          Other support functions (operations, compliance...)

07.7 CC. For management-level roles that assess and manage climate-related issues, provide further information on the structure and processes involved.

The ESG research team is the one in charge of assesseing and manage climate-related issues in our investments for all asset classes and all sectors of activity, for each issuer and for each project . Support functions review risks and compliance at a more strategic level but verify that these issues have been well taken into account in the process. 

SG 08. RI in performance management, reward and/or personal development (Private)

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