News in the spotlight: Mirova, a Natixis Investment Managers affiliate focused on sustainable investing, has signed framework agreements with independent carbon rating agencies BeZero Carbon and Sylvera to elevate quality standards across its carbon strategies. These partnerships respond to the voluntary carbon market's shift from volume to quality, prioritising credits with additionality, durable removals, and co-benefits for biodiversity and communities.
Mirova signs framework agreements with BeZero Carbon and Sylvera
Regulations, Law and Frameworks
ECB fines Crédit Agricole EUR 7.6m for climate-risk governance failures
The ECB’s Single Supervisory Mechanism has imposed a EUR 7.6 million administrative fine on Crédit Agricole after finding the bank did not meet supervisory expectations on managing climate-related and environmental risks. The decision follows an assessment that identified shortcomings in governance, risk management and internal controls related to the identification, measurement and mitigation of climate risks, as well as delays in implementing required improvements. The ECB underlined that effective oversight of climate risks is integral to prudent risk management and financial stability, and said the sanction aims both to address past failings and to reinforce industry-wide standards. The measure is accompanied by supervisory requirements for corrective action to ensure Crédit Agricole aligns its policies, risk appetite framework, scenario analysis and disclosures with SSM expectations. The ECB framed the fine as proportionate and intended to incentivise timely remediation, stressing that persistent or serious breaches of supervisory rules can attract enforcement.
ESG Data and Analytics
ClimeFi has launched its Due Diligence Coverage platform
ClimeFi has launched its Due Diligence Coverage platform, granting qualified carbon removal buyers free access to executive summaries from its comprehensive database of project assessments. Tracking over 500 suppliers globally—with due diligence completed on more than 100 and active coverage on ~70 projects—the platform tackles persistent information asymmetry in carbon dioxide removal (CDR) markets. Each project receives an Analyst Rating based on three pillars: Carbon Integrity (permanence, verification), Delivery Risk (scalability, timelines), and Beyond Carbon (co-benefits, additionality). Unlike static reports, coverage features dynamic monitoring of commercial updates, verification progress, and risk shifts, with projects added or removed in real time to reflect market evolution. Each project receives an Analyst Rating based on three pillars: Carbon Integrity (permanence, verification), Delivery Risk (scalability, timelines), and Beyond Carbon (co-benefits, additionality). By standardising evaluations, ClimeFi lowers barriers for credible scaling, positioning CDR intelligence as essential infrastructure for climate finance as demand surges toward gigatonne volumes.
Net Zero Commitments
Ormat to provide up to 150 MW of Nevada geothermal power to Google via NV Energy
Ormat Technologies has signed a long-term geothermal Portfolio Power Purchase Agreement (PPA) with NV Energy for up to 150 MW of new capacity to power Google’s Nevada data centers, announced on 17 February 2026. Enabled by NV Energy’s Clean Transition Tariff (CTT) and pending Public Utilities Commission of Nevada (PUCN) approval in H2 2026, the deal supports multiple Ormat-owned projects coming online from 2028 to 2030, with a 15-year term extending from the first to beyond the last. The structure provides Ormat with predictable revenues amid surging AI-driven data center demand, where geothermal’s firm, dispatchable, carbon-free profile excels over intermittent renewables. CEO Doron Blachar credited expanded exploration for securing the landmark agreement, bolstered by geothermal tax credit extensions. This partnership positions geothermal as a cornerstone for tech decarbonisation, aligning hyperscaler growth with Nevada’s clean energy leadership amid U.S. electricity demand forecasts rising due to AI and electrification.
Ontario Teachers Pension Plan updated its climate-investment strategy for 2026–2030
Ontario Teachers’ Pension Plan’s 2026–2030 climate strategy replaces a prior portfolio-level emissions reduction target with a new, explicit climate investment target. The plan shifts emphasis from setting an absolute decarbonisation goal for the whole portfolio to mobilising capital into climate solutions and transition-aligned opportunities across private and public markets. The strategy describes integrating climate considerations across investment processes, risk management and stewardship, and prioritizing investments that reduce emissions, enhance resilience and support the low‑carbon transition. It retains commitments to measure, report and engage, using targeted metrics and disclosure to track progress while acknowledging uncertainties in attribution of portfolio emissions. The approach highlights collaboration with portfolio companies, co-investors and external partners to scale decarbonisation and climate infrastructure, and it aims to align long‑term returns with climate outcomes for members.
Mirova signs framework agreements with BeZero Carbon and Sylvera
Leadership Announcements
Ostrum AM names Maud Pierre-Minuit head of sustainable transitions
Ostrum Asset Management, an affiliate of Natixis Investment Managers, has appointed Maud Pierre-Minuit as Head of Sustainable Transitions, effective February 2026. She succeeds Nathalie Beauvir, who shifts to senior ESG strategist, and will lead a team of eight experts to coordinate ESG strategy deployment, develop thematic investment ranges, and guide institutional clients on climate and biodiversity integration. Pierre-Minuit brings over 20 years of asset management experience, including roles at Groupama AM as head of fixed income and currency, La Française AM in multi-asset strategies, and most recently as Senior Manager in Sustainable Finance at I Care by BearingPoint, advising on dual materiality across entities, products, and assets. She holds a postgraduate degree in Financial Strategies and EFFAS CESGA certification as an extra-financial analyst. Managing EUR 384 billion for insurers, pension funds, and corporates, Ostrum positions this hire to strengthen its PRI-signatory status and transition-focused offerings in a tightening regulatory landscape.