Discover our 2021-2022 annual report

Cross-talk interview

What are your takeaways from the first two years of Mirova Foundation?

Anne-Claire Roux: In our two years of existence so far, we have supported more than 15%project leaders. That may not sound like a lot, but our aim is to offer them support that actually makes a difference, especially by helping them through startup and scaling-up phases. We achieve this by ensuring grants that are substantial and offering multi-year support. A minimum of three years enables us to build a partnership and chart a course. In practical terms, this means, for example, offering project promoters flexibility by not demanding a precise allocation of funds. Our mid-term reviews show that this works well. What stands out, over and above the financial aspect, is the strong relationship we have succeeded in building with each one, whether NGOs, smaller associations, researchers, or other foundations… 

What drove you to set up Mirova Foundation?

Philippe Zaouati: Creating Mirova Foundation had seemed to me the obvious thing to do a long time ago. We waited for the right moment, and invested significant means, to do meaningful things. For me, a company must have a mission, and it must use every tool at its disposal to pursue this aim. That’s what we do at Mirova, and the endowment fund is one of those tools, because there are things, we simply can’t do via our usual investment solutions.

What, in your eyes, does the voluntary sector contribute in terms of thinking about and responding to these issues? What role should companies play in this landscape?

Philippe Zaouati: The voluntary sector plays an extremely important role in society. And nonprofits step up where the commercial sector does not, particularly when it comes to environmental and social issues. When we go out and meet project leaders on the ground, we’re speaking with people who are entrepreneurs, and it’s just as rewarding as talking to business leaders. However, I don’t think it’s wise to pit the non-profit sector against the business world. At Mirova, we are also a major player in the social economy, and I believe that we have a bridging role to play. There must be a continuum in the way we respond to the challenges of transition in our society, through entrepreneurship, impact, the voluntary sector, corporate philanthropy… A company is a human project. It must embrace the ecosystem it shares with its stakeholders and think in terms of the public interest.

Although we cover a wide range of topics and actions, the projects we support are each implementing specific solutions to address clearly identified challenges. That’s where the impact lies.

What type of philanthropist do you aspire to be?

Philippe Zaouati: One who has an impact. There are a number of factors to this: adopting sincerity and a partnership-based approach, measuring impact and sharing the results, as well as upholding the views of those we support. We don’t do philanthropy to correct or compensate for something. We do it to make and fulfil commitments that are entirely consistent with our business. We are a small player, but we want to punch above our weight in impact, by creating leverage. The entire Mirova Foundation team has succeeded in integrating an ecosystem, with a mindset that is very much our own. More than just partnerships, we want to build human relationships with projects we finance. 

Anne-Claire Roux: lthough we cover a wide range of topics and actions, the projects we support are each implementing specific solutions to address clearly identified challenges. That’s where the impact lies. Our role is to help them increase that impact, by acting as a sounding board, contributing our skills and being available for them… There need to be ongoing back-and-forth contributions, so we can feed off each other. Our aim is to create the right partnerships, whatever the size of an organisation, and build bridges between all parties. Creating meaningful leverage calls for coalition building, and this is the role we want to play, building connections.

We don’t do philanthropy to correct or compensate for something. We do it to make and fulfil commitments that are entirely consistent with our business.