Mirova | Global Climate Finance and Sustainable Investment

Mirova | Global Climate Finance and Sustainable Investment

Climate Finance

Sustainable Development Goals

SDG 13 – Climate Action, SDG 15 – Life on Land, SDG 17 – Partnerships for the Goals, SDG 7 – Affordable and Clean Energy

Company Overview

Mirova is a global asset management company dedicated to sustainable investing. It was established in 2012 as a department within what is now Ostrum Asset Management, part of the Natixis group, and became a direct affiliate of Natixis Investment Managers in 2014. The company is headquartered in Paris, with additional offices in London, Boston, Singapore, Stockholm, and Nairobi.

Mirova offers a broad range of equity, fixed income, multi-asset, energy transition infrastructure, natural capital and private equity solutions designed for institutional investors, distribution platforms and retail investors in Europe, North America, and Asia-Pacific. The firm structures its work across several areas of expertise, spanning listed equities and fixed income as well as private market strategies in infrastructure, natural capital, and private equity.

Mirova began operating in the United States in 2014 and now runs this business through Mirova US LLC, a wholly owned subsidiary since 2019. In 2022, the firm expanded its emerging-markets capability by acquiring SunFunder, a Nairobi-based specialist in blended finance for clean energy in Africa and Asia. Mirova is a mission-driven company under France’s PACTE law framework and holds B Corp certification, first obtained in 2020 and renewed since.
Natixis Investment Managers

Within its emerging-markets platform, Mirova has begun directing capital into India, including debt financing to a non-banking financial company and an investment in a regenerative agriculture and carbon removal project, marking an early but active phase of its India engagement alongside its larger established presence in Europe, North America, Africa, and other parts of Asia.

Why These SDGs Matter

Mirova’s core business is financing the energy transition, which places SDG 7 at the center of its mandate. Its energy transition infrastructure and emerging-markets debt platforms directly fund renewable energy generation, storage, and clean mobility, expanding access to affordable and clean power. SDG 13 is directly supported through Mirova’s climate-focused fund strategies, its classification of funds under SFDR Article 9, and its published climate and biodiversity disclosures aligned with TCFD and TNFD frameworks. SDG 15 is relevant through Mirova’s natural capital investment platform, which funds nature-based projects such as regenerative agriculture and soil carbon initiatives that support land restoration and biodiversity. SDG 17 applies because Mirova’s blended finance model depends on structured partnerships between private capital, development finance institutions such as the European Investment Bank, and public or philanthropic investors to mobilize funding for projects in emerging markets.

Products & Services
  • Sustainable equity investment strategies
  • Fixed income and green bond funds
  • Energy transition infrastructure funds
  • Emerging markets clean energy debt financing
  • Natural capital and biodiversity-linked investment strategies
  • Private equity growth and acceleration capital
  • Blended finance platforms combining public and private capital
  • ESG and climate research through its in-house research center
Business Challenges Solved
  • Limited access to long-term capital for clean energy projects in emerging markets
  • Financing gaps for small and medium-sized enterprises in solar, agri-solar, and e-mobility sectors
  • Scarcity of institutional-grade blended finance instruments that de-risk emerging market climate investments
  • Difficulty for institutional investors in accessing diversified sustainable infrastructure exposure
  • Absence of standardized methodologies for measuring investment portfolio carbon footprints
  • Underfunded natural capital and biodiversity projects, including regenerative agriculture
  • Limited debt financing options for non-banking financial companies supporting clean mobility and energy in underserved regions
Approach & Methodology

Mirova operates as a conviction-based asset manager that integrates environmental, social, and governance analysis directly into its investment process rather than treating it as a separate screening step. Mirova operates across both listed and private markets, with a particular focus on private markets through private equity, natural capital and infrastructure investments. In its private equity activity, Mirova deploys growth and acceleration capital into companies that offer solutions to environmental and societal challenges, supporting them through minority or majority stakes, co-investments or secondary operations, often with an engaged governance model including board representation and operational support.

For emerging markets, Mirova uses blended finance instruments that combine public and philanthropic capital with private investment to support clean energy projects in Africa, Asia Pacific, Latin America, and the Middle East, drawing on in-house legal, technical, and ESG expertise. Its energy transition infrastructure strategies apply flexible capital structures, including equity financing and subordinated debt, to fund renewable generation, storage, and grid-related assets.

Mirova’s sustainability research function underpins portfolio construction across strategies, and its funds are assessed against recognized regulatory and voluntary disclosure frameworks, including SFDR Article 9 classification and reporting aligned with the Taskforce on Climate-related Financial Disclosures and the Taskforce on Nature-related Financial Disclosures. This research and governance infrastructure is intended to support consistent evaluation of climate and biodiversity-related risk and impact across the firm’s asset classes.

Market Position

Mirova operates in the sustainable and responsible investment segment of global asset management, serving institutional investors, distribution platforms, and retail investors. The company primarily serves institutional investors, distribution platforms, and retail investors in Europe, North America, and Asia-Pacific. Its positioning combines listed asset management with private market strategies in infrastructure, natural capital, and private equity, differentiating it from managers focused on a single asset class. Within emerging markets, its blended finance platform, built partly on the SunFunder acquisition, positions Mirova among a smaller group of managers structuring public-private capital for climate projects in regions such as Africa and South and Southeast Asia. Its India activity to date reflects a market it is entering incrementally through its emerging markets and natural capital platforms, rather than an established regional business line.

Procurement Considerations
  • Confirm applicable fund regulatory classification, such as SFDR Article 9, before allocating capital
  • Review minimum investment thresholds, as offerings are structured for institutional and distribution-platform investors
  • Assess currency and market risk exposure for emerging-markets debt and equity strategies
  • Verify governance rights and reporting cadence for private equity and infrastructure co-investments
  • Evaluate alignment between fund investment themes and organizational ESG or climate targets
  • Confirm the specific legal entity involved in a transaction, such as Mirova US LLC or Mirova SunFunder, given the group’s multi-entity structure
  • Request details on blended finance structuring where public or philanthropic capital is layered with private investment
Funding, Recognition & Ecosystem
  • Affiliate of Natixis Investment Managers
  • Acquired SunFunder, a Nairobi-based emerging markets clean energy finance specialist, in 2022
  • Received debt financing support from the European Investment Bank for the Mirova Gigaton Fund
  • Backed by long-standing development finance partners including the US International Development Finance Corporation, Swedfund, and Sida
  • Named Responsible Investor of the Year in industry award recognitions in multiple years
  • B Corp certification renewed in 2025 with a reported score improvement
  • Participates in the Luxembourg-EIB Climate Finance Platform
Natnavi Analysis

Mirova occupies a distinct position among climate finance providers because it operates across both listed and private markets, giving it exposure to renewable energy infrastructure, natural capital, and public equities within a single organizational structure. Its scale, with tens of billions of euros under management, and its status as a Natixis affiliate give it institutional credibility and access to capital that smaller climate-focused managers may lack.

The firm’s blended finance model, expanded through the SunFunder acquisition, addresses a genuine gap in emerging markets financing by combining public, philanthropic, and private capital for clean energy and mobility projects that might otherwise struggle to attract commercial investment. Its natural capital and biodiversity-linked strategies, including regenerative agriculture financing, reflect a broadening of climate finance beyond carbon-only metrics.

For NatNavi’s purposes, Mirova is relevant primarily as an international climate finance provider whose India activity is nascent rather than established. Its two disclosed India transactions, in clean mobility lending and regenerative agriculture carbon removal, indicate an early-stage but active interest in the Indian market through its emerging markets and natural capital platforms. Procurement teams and Indian companies evaluating Mirova as a potential financing partner should treat it as a global institutional investor exploring India opportunistically, rather than a locally embedded fund.

Sources & References
Website
Founded: 2012
Company Stage: Enterprise
Headquarters
Paris, France
Geographic Presence
Mirova’s core operating presence spans Europe, North America, and Asia-Pacific, with teams based in Paris, London, Boston, Singapore, Stockholm, and Nairobi. Its emerging-markets and natural capital platforms extend investment activity into Africa, Latin America, the Middle East, and parts of Asia. In India specifically, Mirova’s presence is limited to a small number of disclosed transactions rather than a dedicated in-country office, including debt financing to an Indian non-banking financial company and a natural capital investment in an Indian carbon-removal project.
Solution Type
Asset Manager, Service Provider
Sustainability Outcomes
Biodiversity Protection, Climate Resilience, Renewable Energy Adoption, Sustainable Agriculture, Sustainable Infrastructure
Industries Served
Agriculture & Food, Automotive & Electric Mobility, Energy & Utilities, Financial Services & Banking, Government & Public Sector
Certifications: B Corp
Last Reviewed: September 2, 2026

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