Report on the exercise of voting rights 2025

Mirova has developed a voting policy¹ in line with its responsible investment strategy. A responsible and committed investor, Mirova encourages the emergence of a vision of the company focused on the creation of collective value over the long term. This vision differs from the traditional conception of the company as it has developed in recent decades. Two notions structure our approach. 

Taking into account the different stakeholders. It is no longer possible to view the company solely through the prism of the shareholder. The company is above all a project, supported by a few constituent parties: investors (shareholders, creditors, etc.), whose fundmental role is to provide capital, employees, whose involvement is crucial in a competitive world driven by innovation, and public authorities, which guarantee the infrastructure and attractiveness of a territory. Executives are therefore much more than executors at the service of shareholders and corporate governance must be designed in such a way as to integrate the interests of its key stakeholders. 

A long-term approach. The wealth created by the company must be part of a long-time horizon, considering in particular the issues of sustainable development. Mirova encourages companies to adopt a mission that integrates environmental and social issues and to formalize it in their statutes. We are convinced that shareholders have a role to play in disseminating this conception of the company. 

With this in mind, our voting policy encourages: 
• the development of a sustainable shareholder base, 
• the establishment of governance bodies that integrate stakeholders in a balanced way and resolutely address CSR² issues, 
• the implementation of a policy of distributing value that is both fair to stakeholders and promotes sustainable growth, 
• the quality of financial and non-financial information, through the implementation of audited reporting integrating sustainable development issues

¹Mirova's voting policy is available on our website https://www.mirova.com/en/research/voting-and-engagement. 
²Corporate Social Responsibility