Asset Management Company Mirova's Social Impact Strategy Influenced by IPBES Science
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Asset management company Mirova has pledged to focus on the social impacts of its land investments around the world through a sustainable land management-dedicated strategy. Mirova offers investment solutions that combine financial performance with environmental and social impact. The newly launched Mirova Sustainable Land Fund 2 (MSLF2) has the goal of raising €350 million (US$377.8 million) over a four-to-five year period from public bodies and institutional investors. It will invest in agroforestry, sustainable forestry, and regenerative agriculture projects in developing countries.
In its April 2023 report, "Mirova for Nature: Progress report on our roadmap in favour of biodiversity #2," the organization references science published in the IPBES Global Assessment (2019) and IPBES-IPCC Co-sponsored Workshop report, writing: "For Mirova, quick action by the financial sector is required well before regulations are enforced everywhere: divestment of impactful activities such as intensive agriculture & forestry, investment in nature-positive activities such as nature-based solutions and activities that reduce the five direct anthropogenic pressure drivers defined by the Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services (IPBES)– changes in land and sea use; direct exploitation of organisms; climate change; pollution; and invasion of alien species –, but also simulation of corporates impacts to support investment decisions in the absence of sufficient data and engagement with companies to direct their climate fundings towards land-use projects in the context of net-zero commitments."
"Evaluating positive impact also requires evaluation of the business-as-usual and sustainability scenario for each of the five pressure drivers on biodiversity defined by the Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services (IPBES)... Mirova leverages collaborative engagement to encourage companies in most material sectors to accelerate the transition towards deployment of processes and development of products that mitigate negative impacts in supply chain and improve positive impact based on reduced IPBES pressures of an activity as compared to a baseline," continued the organization.
"Mirova excludes activities that are most harmful to biodiversity. Globally a few activities have been identified as most harmful to biodiversity because they are the main root cause of the IPBES pressures drivers. Mirova has already
published its controversial activity list on the topic of climate change and intends to update it with new exclusions related to land use and pollution, including notably deforestation-linked agricultural commodities, chemicals and plastics," the entity pledged.
In its April 2023 report, "Mirova for Nature: Progress report on our roadmap in favour of biodiversity #2," the organization references science published in the IPBES Global Assessment (2019) and IPBES-IPCC Co-sponsored Workshop report, writing: "For Mirova, quick action by the financial sector is required well before regulations are enforced everywhere: divestment of impactful activities such as intensive agriculture & forestry, investment in nature-positive activities such as nature-based solutions and activities that reduce the five direct anthropogenic pressure drivers defined by the Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services (IPBES)– changes in land and sea use; direct exploitation of organisms; climate change; pollution; and invasion of alien species –, but also simulation of corporates impacts to support investment decisions in the absence of sufficient data and engagement with companies to direct their climate fundings towards land-use projects in the context of net-zero commitments."
"Evaluating positive impact also requires evaluation of the business-as-usual and sustainability scenario for each of the five pressure drivers on biodiversity defined by the Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services (IPBES)... Mirova leverages collaborative engagement to encourage companies in most material sectors to accelerate the transition towards deployment of processes and development of products that mitigate negative impacts in supply chain and improve positive impact based on reduced IPBES pressures of an activity as compared to a baseline," continued the organization.
"Mirova excludes activities that are most harmful to biodiversity. Globally a few activities have been identified as most harmful to biodiversity because they are the main root cause of the IPBES pressures drivers. Mirova has already
published its controversial activity list on the topic of climate change and intends to update it with new exclusions related to land use and pollution, including notably deforestation-linked agricultural commodities, chemicals and plastics," the entity pledged.
Website
Global assessment (1st work programme), IPBES-IPCC co-sponsored workshop on biodiversity and climate change
2023-12-07
- Mirova-for-Nature-2023_EN.pdf (12.04 MB)
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