CPR AM, the thematic equities arm of the largest European asset manager Amundi, announced today the launch of two new funds, CPR Invest – Climate Action Euro and CPR Invest – Climate Bonds Euro, expanding its range of investment solutions dedicated to combatting climate change.
The new open-ended funds use the CDP scoring methodology, which rates companies on a scale of A to D, according to their transparency and action to tackle climate change, to select companies committed to limiting their impact on climate change across a variety of sectors. CPR AM’s climate funds only hold A and B-rated companies which are the most advanced companies in this area, or C-rated companies with scientifically-approved emissions reduction targets complying with the Paris Agreement.
CPR Invest – Climate Action Euro is an equity fund investing in all sectors in the Eurozone, with the MSCI EMU Index defining its investible universe. CPR Invest – Climate Bonds Euro is a Euro-denominated Investment Grade bond fund active across all sectors, OECD countries, maturities and seniorities, aimed at financing companies that stand out for their decarbonisation efforts across the credit spectrum, beyond just the green bond market. The fund also invests in the BB segment as a source of diversification and additional return.
The funds also consider other ESG criteria in order to build portfolios that meet the triple objective of financial outperformance, rigorous control of extra-financial risks and decarbonisation.
Gilles Cutaya, Deputy CEO of CPR AM, said:
“We have made the fight against climate change one of our strategic priorities, thanks to our special partnership with CDP and to the mobilisation of all our management and research teams. The launch of these two new offerings is a continuation of CPR AM’s work in 2020 on the temperature pathway and the carbon offsetting of our funds. These funds are a direct response to investors’ demands to decarbonise their portfolios and consolidate the range of solutions that CPR AM is able to offer them across all main asset classes. CPR AM’s climate range already has more than €1 billion in AUM and we continue to reinforce our ambition to become the leading climate partner for investors for years to come.”
The new funds add to the current CPR Invest – Climate Action International Equity Fund, launched in partnership with CDP in 2018. CPR AM stated that it is currently working with CDP on a range of solutions across all mainstream asset classes, aimed at clients wishing to manage the climate-related risks in their investment portfolios and help finance the environmental transition.
Laurent Babikian, Director Capital Markets at CDP Europe, said:
“We are delighted that the hugely successful CPR Invest – Climate Action fund is expanding to offer further options for investment in top climate performers. Investors must urgently take more real and impactful action to align their portfolios with a 1.5 °C world. These investments – based on the best CDP scores and science-based targets – bring to the market more credible investment solutions to the climate crisis based on the best available data. They will help finance the transition to a net-zero emissions economy.”