Eurizon Asset Management has launched the first green bond fund to be offered by an Italian asset manager.
The Eurizon Fund – Absolute Green Bonds was added to Eurizon’s range of offerings on 9 April, enabling fixed income investors to support environmentally friendly projects.
Head of marketing and business development at Eurizon Massimo Mazzini said: ‘We continue to study new business proposals focused on these types of investments, in both the equity and bond markets, in the belief that the creation of long-term value for our investors goes hand in hand with the support for the development of a substantial and sustainable economic system.’
Eurizon Fund – Absolute Green Bonds is a sub fund that selects mainly investment grade bonds in accordance with the International Capital Market Association’s Green Bond Principles, with the aim of fostering sustainable projects.
The European Commission’s sustainable finance action plan was approved in March. The project aims to match up the needs of the European economy with green financial solutions.
Mazzini said: ‘The financial community is becoming increasingly aware of the part it can play in combating climate change and improving the quality of life.’
Eurizon’s new bond fund follows the introduction of the first green bond to be launched by an Italian bank in June 2017 by Intesa Sanpaolo.
Eurizon Capital is an asset management company providing its services to both retail and institutional clients.