Amundi adds ESG to Italian blue chip ETF
Amundi has transitioned an additional ETF on a flagship equity index into an ESG equivalent, moving the Amundi FTSE MIB UCITS ETF to the Amundi Italy MIB ESG – UCITS ETF DR and it is now the first ETF tracking the newly created MIB ESG index, developed by Euronext.
The index tracked by the ETF offers exposure to the 40 main Italian stocks which demonstrate strong Environmental, Social and Governance practices among the 60 most liquid Italian companies listed on the Italian Stock Exchange.
It applies norm-based exclusion filters in accordance with the United Nation (UN) Global Compact principles and a negative screening allows to exclude companies involved in controversial business practices. The ETF also aims to deliver an improved weighted carbon intensity compared to its investible universe.
Arnaud Llinas, Head of ETF, Indexing & Smart Beta at Amundi, says: “Responsible investing is at the heart of Amundi’s ETF product development strategy, this is why we are delighted to partner again with Euronext and accompany investors in the reorientation of capital towards sustainable portfolios. We believe that issuing ESG equivalent of national blue chip indices is also instrumental to help democratise ESG investing”.
Fabrizio Testa, CEO, Borsa Italiana, part of Euronext Group, adds: “Following the launch of the MIB ESG last October, Euronext is glad that Amundi decides to launch the Amundi Italy MIB ESG – UCITS ETF DR. This is further evidence of strong market appetite for solutions that enable the integration of ESG considerations into core investment portfolios. We look forward to continuing to collaborate with our clients in developing products supporting this ESG transition, in line with our ‘Fit for 1.5°’ commitment".