Amundi has just announced they will be expanding their climate ETF suite with the launch of a new global equity fund, the Amundi MSCI ACWI SRI PAB UCITS ETF (WELB). WELB plans to follow the MSCI ACWI SRI PAB index that tracks 502 companies from 23 different developed markets and 24 emerging markets. The index was created by taking the 2,898 companies of the MSCI ACWI index and basing their choices on which companies have the highest ESG scores.
Amundi Launches Paris-Aligned Global ETF
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To stay in line with the Paris-aligned benchmark, the companies in WELB’s index must aim to reduce carbon emissions by 7% every year as well as reducing its intensity by 50%.