BNP Paribas Asset Management (BNPP AM) has expanded its ESG range with the launch of the world’s first blue economy ETF.
The BNP Paribas Easy ECPI Global ESG Blue Economy UCITS ETF (BLUE) is listed on Euronext Paris and Xetra with a total expense ratio (TER) of 0.30%.
Tracking the ECPI Global ESG Blue Economy index, BLUE offers exposure to 50 large cap companies which are participating in the blue economy.
Equally weighted, companies included in the index are listed according to five categories; coastal livelihood, energy and resources, fisheries and seafood, pollution reduction and maritime transport.
The index excludes companies involved in systematic violations of the United Nations Global Compact principle and arms production and businesses that have more than 10% of their revenues from tobacco, thermal coal, extraction or unconventional oil and gas.
Robert-Alexandre Poujade, ESG analyst in BNPP AM’s Sustainability Centre, commented: “The ecosystem of the ocean has characteristics and resources that are essential to our well-being and to the prosperity of the global economy, although their sustainability is now under significant threat.
“Whether for tourism employment or offshore wind, the ocean is also a formidable reservoir of biodiversity to be preserved at all costs to maintain our food security and our health, and to protect our coastal areas. It is also one of our best allies in the fight against climate change, capturing nearly 30% of the CO2 emissions that human activity emits."
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Isabelle Bourcier (pictured), head of quantitative and index management at BNPP AM, added: "The launch highlights our ambition to be ever more innovative in the responsible investment themes that we offer to our clients.”
Sustainable thematic ETFs have been a big focus for BNPP AM. Last year, the French asset manager launched Europe’s first circular economy ETF, the BNP Paribas Easy ECPI Circular Economy Leaders UCITS ETF (REUSE), that offers exposure to 50 large-cap stocks that produce goods and services in a sustainable manner.