French asset manager and ETF provider Amundi has announced the introduction of the Amundi MSCI Europe Climate Action UCITS ETF.
The launch of this new ETF is backed by an initial investment of over €500 million from Ilmarinen, Finland’s largest private earnings-related pension insurance company.
The Amundi MSCI Europe Climate Action UCITS ETF tracks an index that identifies European companies considered top performers in terms of their efforts and actions related to the climate transition.
The index utilises various metrics such as carbon intensity, science-based targets, climate risk management and revenues to evaluate, rank and select leading companies.
Additionally, the index excludes companies involved in controversial weapons, tobacco, thermal coal mining, oil sands and nuclear weapons.
This ETF rewards companies in the real economy actively combating climate change, offering investors an alternative to ESG and Climate ETFs linked to the Paris-Aligned (PAB) and EU Climate Transition (CTB) benchmarks.
Juha Venäläinen, senior portfolio manager at Ilmarinen, expressed confidence in the investment, stating that it would provide exposure to European companies likely to outperform their competitors as the business environment evolves due to climate change.
Gaëtan Delculée, head of Amundi ETF, indexing and smart beta sales, highlighted the shared commitment to responsible investing and engagement in the climate transition between Amundi and Ilmarinen.
The Amundi MSCI Europe Climate Action UCITS ETF adds to Amundi’s existing lineup of over 30 climate ETFs, catering to investors seeking a more flexible and tailored approach to responsible investing.
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