Pictet Asset Management has soft closed its Global Environmental Opportunities Fund after attracting inflows of more than €4bn since the start of 2020. The €7.5bn fund, which launched in 2010 and invests primarily in equities linked to green goods and services, grew from just over €2bn a year ago. It is now closed to new retail investors and some new institutional investors, but remains open to existing clients.
Vanguard has launched a new ESG ETF which tracks the FTSE Global All Cap Choice Index. The index excludes weapons companies, and companies involved in non-renewable energy and vices, as well as those involved in “controversies” relating to the UN Global Compact.
Danske Bank has said it will phase out energy companies with coal and peat-fired power production from its funds and lending portfolios. As a first step, the rule will apply to companies with more than 5% revenue from thermal coal mining or peat and coal generation.