As a leading investor in sustainability, Mirova, an affiliate of Natixis Investment Managers, brings together the requisite vision and expertise to scale-up the market for natural capital while serving institutional clients seeking market-level returns with high-impact investment solutions. The firm manages $400 million worth of investments within this theme, in line with its goal of investing €1 billion in nature-related projects by 2022. These investments aim to address key environmental challenges: climate change and the protection of landscapes, biodiversity, soil and marine resources.
In November 2019, the firm announced the second close of the Althelia Sustainable Ocean Fund. The fund’s total commitments are now more than $92 million and are expected to exceed $100 million by the end of the year. Additional commitments come from leading European institutional investors and include the German Development Bank KFW, along with French insurers BNP Paribas Cardif and Garance.
In the same month, Mirova’s fourth renewable energy infrastructure fund, Eurofideme 4, closed at €857 million, making it the largest renewable energy fund dedicated to the European market to date. With the closing of this fund, it brings the total unlisted assets of Mirova’s energy transition to €1.3 billion.
Additionally, Mirova’s carbon neutral strategy continued to grab industry attention in 2019. This is significant for the way that organisations, and even industries, are classified in terms of their carbon impact. It also ensures the resulting investment strategy is genuinely carbon neutral – something that isn’t necessarily the case with less comprehensive strategies.
Mirova worked with the United Nations on the very first investment fund to leverage public money to raise private capital for sustainable land projects – its Land Degradation Neutrality Fund. Having reached its first closing in December 2018, the fund was again praised by the UN Principles for Responsible Investment (UN PRI), which selected it for the 2019 UN PRI Awards in September. In the same month, Mirova also announced more than $50 million in additional commitments from private investors, including the insurers Allianz France and Natixis Assurances, with total commitments brought to over $150 million.
The firm continues to push the envelope on industry-led innovation. In September, Mirova’s CEO, Philippe Zaouati, closed the PRI in Person conference in Paris with a speech that highlighted the shift in the concept of shareholder value and the need for asset management companies to become purpose-driven. For its part, Mirova has moved to do just this, launching the process of becoming a ‘B-Corp’ – a certified for-profit business that meets certain ESG criteria.
Zaouati commented: “Sustainable finance is not a fad, but an underlying societal trend. Let us seize this opportunity to finally put the strength of our words into action and prove that sustainable capitalism is indeed possible.”
Natixis investment Managers is proud to be honoured in this category and it builds on its highly commended prize for ‘Investment innovation of the year’ in 2019, for Mirova’s Sustainable Oceans Strategy.
Affiliate of Natixis Investment Managers
French Public Limited liability company with board of Directors.
Share Capital: €8 813 860
Regulated by the Autorité des Marchés Financiers (AMF) under n° GP 02014.
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59 avenue Pierre Mendès France
Natixis Investment Managers
RCS Paris 453 952 681
Share Capital: €178 251 690
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