French Institutional Investors Select Mirova to Manage €100M Biodiversity Fund
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Loading... - Anna Dorko
- 02 Dec 2024
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A consortium of prominent French institutional investors has appointed Mirova, an affiliate of Natixis Investment Managers, to manage the €100 million Fonds Objectif Biodiversité. This innovative fund is dedicated to biodiversity preservation and supporting companies transitioning toward sustainable business practices.
The consortium backing this initiative includes prominent institutions such as Abeille Assurances, BNP Paribas Cardif, BPCE Assurances, Caisse des Dépôts, CNP Assurances, EDF Gestion, MAIF, MACIF, Malakoff Humanis, Société Générale Assurances, Crédit Agricole Assurances, and Af2i. Their collective commitment underscores the growing recognition of biodiversity as a critical investment area.
Hervé Guez, the global head of listed assets at Mirova, expressed excitement about managing this pioneering fund, stating, “This illustrates our commitment to biodiversity preservation and our expertise in responsible investment.” He emphasized that biodiversity will be a “key topic” in the coming years, highlighting the dual focus on investing in innovative small and medium-sized enterprises while also engaging larger corporations to prioritize biodiversity in their operations.
The urgency of addressing biodiversity loss is underscored by alarming statistics from the International Union for Conservation of Nature (IUCN). Since 1964, the IUCN has documented that over 45,000 species, or 28% of all assessed species, are currently at risk of extinction. This stark reality makes the creation of funds like the Fonds Objectif Biodiversité not only timely but essential.
Mirova was selected for its collaborative approach with experts, innovative methodologies, and strong portfolio construction. The fund will leverage data from CDP, a non-profit environmental data provider that helps organizations manage their environmental impacts through a global disclosure system. Mirova plans to utilize CDP’s data to assess companies' exposure to biodiversity-related risks and monitor their progress in mitigating negative impacts.
Mirova’s team will receive training and support from CDP experts in various critical areas, including climate change, water security, biodiversity, deforestation, and plastic pollution. This collaboration aims to ensure that the fund is not only effective in its financial goals but also impactful in its contributions to biodiversity preservation.
The establishment of the Fonds Objectif Biodiversité represents a significant step forward in the realm of responsible investing. By focusing on biodiversity preservation and supporting the transition of businesses toward sustainable practices, Mirova and its consortium of investors are setting a precedent for future investment strategies. As biodiversity becomes an increasingly pressing global issue, initiatives like this will play a crucial role in fostering a sustainable future and protecting the planet's vital ecosystems.
