Mirova and Natixis AM take a stand for the protection of the Arctic
Mirova, Natixis Asset Management and three other major investors lead a group of 19 international signatories with combined assets of over €5 trillion, to expose oil and gas exploration conditions in the Arctic.
A moratorium request to oil and gas companies
This statement is directed at oil and gas companies involved in oil exploration in the Arctic, as well as Arctic Council members. It is an urgent call to protect the Arctic from future oil exploration activities and meet national climate change pledges in this region, which harbors significant oil and gas resources.
Commenting this initiative, Philippe Zaouati, CEO of Mirova, explains: “On the eve of Climate Finance Day in Casablanca, we would like to involve both companies and policymakers so as to take the Arctic issue to the next level and seek greater protection for the region.”
Matthieu Duncan, CEO of Natixis Asset Management adds : “As a pioneer in responsible investment, Natixis Asset Management has long taken a stand in the fight against climate change and this is why we are taking a leading role alongside our subsidiary Mirova in this strong commitment to highlight the potentially negative effects of oil and gas exploration in the Arctic.”
More rigorous controls, local project approval
The statement will be sent to Arctic Council Members and its Permanent Participants and Observers to ask for an unlimited moratorium on any oil and gas activity in the Arctic ocean, which is not governed by any single nation.
A call to action
Investors also ask oil and gas companies that may be involved in exploration in the Arctic to commit to a voluntary moratorium on drilling in Arctic marine waters covered by ice, due to current technological uncertainty on the effectiveness of oil recovery mechanisms.
Natixis Asset Management – Asset management company regulated by AMF under n° GP 90-009 – Limited Liability Company with share capital of €50,434,604.76 – RCS Number Paris 329 450 738 – Registered Office: 21 quai d’Austerlitz, 75013 Paris.
Mirova is a fully-owned subsidiary of Natixis Asset Management. Mirova – Public limited company with share capital of €7,461,327.50 – RCS Number Paris 394 648 216 – Approved by AMF under n° GP 02-014 – Registered Office: 21 quai d’Austerlitz, 75013 Paris.