Two AllianceBernstein funds that target companies which comply with UN sustainability goals have gained an ‘ESG label’ from a Luxembourg organisation that is partly backed by the European Investment Bank (EIB).
The AB Sustainable Thematic Portfolio and the AB Sustainable US Thematic Portfolio invest only in companies that contribute to fulfilling UN Sustainable Development Goals (SDGs).
Each fund holding must contribute directly to the achievement of at least one UN SDG as well as pass a thorough analysis of their environmental, social and governance (ESG) practices, AllianceBernstein said.
LuxFlag, which is backed by the Luxembourg government as well as the EIB, awards ESG labels designed to ensure investors that funds take into account ESG criteria throughout the whole investment processes.
“Sustainable investing has become increasingly important as individuals are ever more aware of the impact of their investment decisions,” said Dan Roary, chief investment officer for sustainable and thematic equities at the asset manager.
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