Mirova becomes a ‘mission-led company’ and is awarded B-Corp status

Wednesday, 6 january 2021

By including its corporate purpose (raison d’être) and its environmental and social objectives in its articles of association, Mirova is giving formal expression to an approach launched when the company was first set up in 2014.

The management company specializing in sustainable finance, and an affiliate of Natixis Investment Managers, is applying Article 176 of the 2019 ‘Pacte law’1, which allows a company to include its raison d’être (or ‘corporate purpose’) in its articles of association. 

By taking this step, Mirova reasserts its determination to reconcile the pursuit of financial performance with positive environmental and social impacts. In a context highly favorable to the development of sustainable finance, Mirova also states its intention to set about defining new indicators to steer and measure its investments: an indicator to measure the impact of listed companies on biodiversity is currently being developed and a project on inequalities has also been launched. The company’s net inflows rose from €500 million in 2014 to €3 billion in 2019 and had already reached €3.4 billion at the end of September 2020. At the same date, assets under management more than doubled compared with the end of 2018. 

As further proof of the company’s public credibility, the company at the same time received B-Corp2 status, a label giving official recognition to its societal and environmental commitment and making it part of an international community of pioneers in this movement, of which the Caisse d’Epargne Normandie is also a member. It should be noted that Ecofi, the management company belonging to Crédit Coopératif, officially stated its raison d’être and assumed the status of a ‘mission-led company’ in June last year after becoming 100% SRI for its range of open-ended funds at the beginning of 2019 (excluding certain index-linked funds and delegated management funds).

Read the press release 

1] Article 176 of the French law of May 22, 2019 relating to the growth and transformation of companies, known as the ‘Pacte law,’ introduces the status of mission-led company (“société à mission”). It allows a company to publicly declare its status as a mission-led company by specifying its corporate purpose (raison d’être) and one or more social and environmental objectives that the company has set for itself in the pursuit of its business activities. 
2] Since 2006, the B-Corp movement has been promoting strong values of change throughout the world to make companies ‘a force for good’ and to officially recognize those that reconcile their ‘for-profit’ goals with their ‘for purpose’ objectives. B-Corp’s aim is to certify companies that make social, societal and environmental objectives an integral part of their business model and operations. 

References to a ranking, an award or a label do not prejudge the future results of the fund or the manager.

About Mirova 
Mirova is a management company dedicated to responsible investment. Through its conviction-driven approach, Mirova sets out to combine long-term value creation with sustainable development. Mirova is a pioneer in many areas of sustainable finance and focuses its expertise on continued innovation dedicated to offering its customers solutions with a high environmental and social impact.