BlackRock Inc. is launching two funds designed to live up to the European Union's highest standard for sustainability, in an effort to draw in investors looking for the greenest products on the market.
The world's largest asset manager says its new global Climate Action Multi-Asset Fund and Climate Action Equity Fund will carry the so-called Article 9 label, a category within Europe's ESG investing rulebook that puts sustainability above all else. Such products currently make up only a small fraction of environmental, social and governance funds, but are set to grow in significance as more investors try to shield themselves from greenwashing.
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