Mirova selected to manage the fund “Objectif biodiversité’ launched by French consortium of 11 institutional investors
October 09, 2024
Mirova, an affiliate of Natixis Investment Managers dedicated to sustainable finance, has been selected by a consortium of 11 institutional investors – Abeille Assurances (Aéma Group), BNP Paribas Cardif, BPCE Assurances, the Caisse des Dépôts, CNP Assurances, EDF Gestion, MAIF, MACIF (Aéma Group), Malakoff Humanis, Société Générale Assurances, Crédit Agricole Assurances – along with Af2i to manage the fund “Objectif biodiversité“, following a consultation organized with the support of the consulting firms I Care by BearingPoint and Amadeis. With over €100 million and an initial duration of 5 years, this listed fund will primarily focus on small and medium-sized European companies, with a dual objective: to support businesses transitioning to sustainable business models and to invest in innovative solutions for biodiversity preservation.
A Distinctive value proposition
According to the press release issued by the French consortium, Mirova stands out for several key strengths that led to this selection:
- Innovative Methodological Approach: We have developed impact and investment frameworks that rigorously integrate biodiversity challenges. Our proposal relies on advanced analytical tools, including geospatial analysis, to assess companies' impact on biodiversity.
- Strong Portfolio Construction: Our ability to robustly select and allocate values based on their current and future impact on biodiversity is a testament to our seriousness and expertise.
- Collaboration with Experts: We are committed to working closely with the fund’s scientific committee and the partner CDP. Together, we will focus on materiality, data quality, and impact measurement to ensure the success of this initiative.
“We are thrilled to have been chosen to manage this pioneering fund, which illustrates our commitment to biodiversity preservation and our expertise in responsible investment. We believe that biodiversity will be a key topic for the coming years. It will not only involve investing in innovative small and medium-sized enterprises that provide solutions to biodiversity challenges but also actively engaging with large companies to encourage them to make biodiversity a transformational issue.” Hervé Guez, Global Head of Listed Assets, Mirova.
Mirova will build the fund using data from CDP on climate and nature, sourced from over 23,000 companies that reported their information through its platform in 20231. This data will be used in the investment strategy to assess companies' exposure to risks and the progress made in reducing negative impacts on biodiversity. Mirova will be trained and supported by CDP experts to use this information to identify and evaluate companies' risk management, as well as their dependencies and opportunities in areas such as climate change, water security, biodiversity, deforestation, and plastic pollution.
An approach supported by a scientific committee
The selection was made with the support of a Scientific Committee composed of recognized experts in biodiversity and sustainable finance, who will guide investors on impact indicators and help them assess the "Biodiversity" performance of the portfolio. This underscores our commitment to adopting an evidence-based approach with rigorous impact indicators.
This committee will include: Marc-André Selosse and Romain Julliard, professors at the Muséum National d'Histoire Naturelle in Paris; Matthieu Delabie, thematic coordinator for "Finance, Economic Instruments" at the French Office for Biodiversity; Guillaume Wahl, sustainable finance expert at WWF France; Alexandre Garel, researcher and finance lecturer at Audencia Business School; and Julie Raynaud, independent researcher and associate expert at the Louis Bachelier Institute.