By Maitane Sardon
BNP Paribas asset management arm said Monday that it has launched a fund that invests in global equities with high environmental, social and governance standards.
BNP Paribas Asset Management said the companies the fund invests in are selected according to their carbon footprint and the robustness of their energy-transition strategy. It said the fund also offsets the carbon footprint of this investment strategy by using carbon credits from the Kasigau Corridor REDD+ project, which aims to protect endangered dryland forests and employ local workers in southeast Kenya.
The THEAM Quant World Climate Carbon Offset Plan Fund holds 103 companies including semiconductor company Advanced Micro Devices, pharmaceutical company Eli Lilly & Co. (LLY), Nvidia and Hong Kong Exchanges & Clearing Ltd. (0388.HK).
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