ICMIF member MAIF (France) has announced it is strengthening its responsible investment policy with the adoption of two new strategies: a biodiversity component to complement its climate strategy and reinforce its action to support nature, and a social component to reflect the MAIF Group’s policy in favour of inclusion and equal opportunities.

An investor committed to the climate and biodiversity

In 2020, MAIF adopted an investment climate strategy that aimed to meet the objectives of the Paris Agreement and align its portfolios with a trajectory as close as possible to +1.5°C by 2030. In line with its ‘Regeneration’ strategic plan and its overall climate strategy, MAIF says it is now fully integrating biodiversity into its investments.

Thanks to MAIF’s belief that the climate crisis and the erosion of biodiversity cannot be resolved separately, the mutual insurer has chosen to commit to a strategy supporting nature with the dual aim of contributing to the goal of carbon neutrality and acting to preserve biodiversity. The strategy is in line with the Kunming-Montreal Biodiversity Framework and has set three priority targets for action by 2030:

• Reduce the risks of pollution and their negative impact, particularly those linked to hazardous chemicals and plastics
• Protecting all spaces by participating in the protection and sustainable management of forests, helping to limit the artificialisation of land and encouraging more sustainable agricultural production methods
• Encourage sustainable consumption practices by encouraging economic players to improve transparency, education and access to alternatives.

MAIF says it is implementing actions including exclusion, investment selection and dialogue with its stakeholders. From 2024, it will exclude the activities that are most harmful to biodiversity from its investments (direct management and dedicated funds):

• Companies generating more than 5% of their sales from the production of agricultural GMOs
• Companies producing palm oil (absolute exclusion) or those generating more than 10% of their sales from the distribution of palm oil
• Producers of pesticides containing active substances classified by the World Health Organisation as ‘extremely hazardous’ or ‘very hazardous’.

In order to amplify its impact, MAIF has undertaken to enter into dialogue, by 2026, with 10 issuers in the portfolio who are active in sectors where biodiversity is a major issue, as well as with the 10 main partner management companies.

Between 2019 and 2023, MAIF has already invested EUR 140 million in funds aimed at preserving biodiversity (Swen blue Ocean, MAIF Transition, MAIF Forêts). Between now and 2026, it hopes to allocate a further EUR 150 million to investment in financial assets that contribute to the preservation and regeneration of biodiversity.

MAIF says it wishes to be part of a process of progress by relying on science and collaborating with its peers. It signed up to the Finance for Biodiversity Pledge in January 2024.

Social issues at the heart of MAIF’s investment policy

In line with the MAIF Group’s social policy, the social strategy will aim to contribute to greater inclusion and support equal opportunities. In concrete terms, MAIF says it is committed to :

• Facilitating access to employment for all: gender equality, disability, regional development, etc.
• Giving as many people as possible access to education and training: student accommodation, training to help people make transitions, etc.
• Supporting transition in housing and mobility: social change, access to housing, etc.

Carole Zacchéo, Investment Director, MAIF said: “By making ambitious commitments to the climate, biodiversity and social issues in its investment strategy, MAIF has taken a new step forward in its role as a responsible investor. We are convinced that contributing to the common good by investing in nature and people is also the way to guarantee the long-term security and profitability of the financial investments and savings entrusted to us by our members.”

The social strategy takes up the various levers of action of the group by relying on the historical exclusions of the most harmful activities on human life*, the channelling of investments towards more responsible structures, and the dialogue within the MAIF ecosystem. To make this ambition a reality, the mutual insurance company has defined the social share of its investments, with the aim of reaching 10% by the end of the current strategic plan (2023-2026).

This social investment policy is illustrated by two concrete examples: firstly, the creation of a residential property fund, MAIF Habitats et Inclusion (Housing and Inclusion), which aims to finance low-cost housing and contribute to the development of new forms of housing. Secondly, the MAIF Dette à Impact fund, created in 2022, which finances SMEs and SMIs wishing to move towards greater responsibility by setting them social KPIs.

Key dates for MAIF and responsible investments

2009: MAIF was the first French insurer to sign the United Nations Principles for Responsible Investment (PRI)

2020: Adoption of the investment climate strategy

2021: Exclusion of fossil fuels and membership of the Net-Zero Asset Owner Alliance (NZAOA)

2022: Adoption of social investment strategy and Impact Prize and Sustainable Finance Prize

2023: Adoption of the biodiversity strategy for investments and Prize for the most influential institutional investor in terms of taking ESG issues into account

*States that practice the death penalty, non-compliance with the United Nations Global Compact, armaments, tobacco, etc.