ISHARES € CORP BOND 0-3YR ESG UCITS ETF EUR (DIST)
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18 May 2023
The Bloomberg MSCI Euro Corporate 0-3 Sustainable SRI Index measures the performance of fixed-rate, Euro denominated corporate bonds that have a remaining time to maturity of no longer than three years and a minimum amount outstanding of €300 million. The bonds must be rated investment grade, taking the middle rating given by Fitch, Moody’s and Standard & Poor’s Rating Services.The Index includes only bonds issued by companies that meet the index provider’s environmental, social and governance (“ESG”) ratings, based on a series of and exclusionary and ratings based criteria. The investable universe of the Index is determined by three ESG screens. The Index excludes companies that are identified by the index provider as manufacturers or producers of alcohol, tobacco, gambling, adult entertainment, genetically modified organisms, nuclear power, civilian firearms and military weapons, or where their involvement in those activities exceed the thresholds set by the index provider. It also excludes issuers that are identified as deriving more than 5% of revenue from activities related to thermal coal extraction, thermal coal based power generation and oil sands. Companies are also given a MSCI ESG intangible value assessment (IVA) rating by the index provider, based on their ability to manage their ESG risks and opportunities, which determines their eligibility for inclusion (rating must be BBB or higher to be eligible for inclusion). In addition, companies which are identified as being involved in major controversies that have an ESG impact on their operations and/or products and services, with a MSCI ESG Controversies score less than 1, are also excluded.
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