French asset managers have seven of the 10 most climate-friendly funds in Europe, according to a ranking that is topped by BNP Paribas Asset Management (BNPPAM).
Climetrics awards funds with climate scores and said hundreds of funds in the European equity category were measured for various criteria, including asset manager governance of climate issues.
The best funds stand out as generally investing in European companies that are well aligned with the transition to a low-carbon economy, Climetrics said.
Climetrics is partly owned by CDP, a non-profit investor research organisation focused on climate issues, and ISS ESG, part of Institutional Shareholder Services, a corporate governance service for investors.
The top 10 funds (starting at the highest) are:
- BNP Paribas Developpement Humain (BNPPAM)
- Parworld Quant Equity Europe Guru (BNPPAM)
- Echiquier Major (La Financiere de l’Echiquier)
- LBPAM ISR Actions Europe (La Banque Postale Asset Management)
- Mirova Europe Sustainable Equity (Mirova)
- OFI RS Euroepan Growth Climate Change (OFI Asset Management)
- Mirova Europe Environmental Equity (Mirova)
- Candriam SRI Equity Europe (Candriam)
- Candriam Sustainable Europe (Candriam)
- NN (L) European Sustainable Equity (NN Investment Partners)
The analysis of the top 10 company holdings for each of the award-winning funds shows that almost half of the funds’ top holdings (46%) were scored ‘A’ by CDP, with almost three quarters (73%) receiving either an A or B score.
Valentijn van Nieuwenhuijzen, chief investment officer at NN Investment Partners, said the ratings indicated that, on average, portfolio companies were more carbon-efficient, better at disclosing climate-related risks and opportunities, and more likely to deploy key technologies supporting energy transition.
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