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BNP Paribas Asset Management launches global equity SRI PAB fund


BNP Paribas Asset Management has announced the listing of a new global equity ETF, expanding its current SRI PAB range which totals more than EUR6.5 billion of assets under management (AUM). 

BNP Paribas Easy MSCI ACWI SRI S-Series PAB 5 per cent Capped UCITS ETF is a sub-fund of the BNP Paribas Easy Irish ICAV and began trading on Euronext Paris, Borsa Italiana and SIX Swiss Exchange while listing on Deutsche Börse Xetra is planned for 23 May. 

The fund seeks to replicate the performance of the MSCI ACWI SRI S-Series PAB 5 per cent Capped Index (Bloomberg: MXACSSNU Index). Its objective is to provide investors with a worldwide exposure (including both developed and emerging markets) to companies which have high Environmental, Social and Governance (“ESG”) standards. In addition, this climate ETF aims to comply with the Paris Aligned Benchmark (PAB) targets of reducing greenhouse gas intensity by at least 50 per cent relative to the initial investment universe and achieving an additional decarbonisation target of at least 7 per cent each year2.

The fund is classified as Article 83 as per SFDR. It promotes environmental and/or social characteristics by investing in companies assessed according to ESG criteria such as environmental opportunity, pollution and waste, human capital, corporate governance and based on their efforts to reduce their exposure to coal and unconventional fossil fuels. As a result, companies involved in sectors with a potentially high negative ESG impact, those subject to significant violations of the UN Global Compact principles and those involved in severe ESG-related controversies are excluded.

The fund commits to invest a minimum of 35 per cent of its net assets in sustainable investments and aims to keep a Tracking Error below 1 per cent versus the underlying index. 

Lorraine Sereyjol-Garros, Global Head of Development for ETFs & Index Funds at BNPP AM says: “We observe a strong interest from clients for SRI PAB ETFs and are proud to expand our range, particularly within our Irish ICAV. The aim is to capture long-term growth opportunities offered by global equities while integrating a serious and strong ESG approach. Between our already existing MSCI SRI World PAB ETF and this new ETF, clients will have access to both developed and emerging equity markets”.

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