BlackRock Launches New Climate-Focused ETFs Anchored by $3 Billion Investment from Ilmarinen
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Finland’s largest pension insurance company, Ilmarinen, yesterday selected the iShares Climate Conscious & Transition MSCI USA ETF to help achieve its climate-focused investment objectives. Ilmarinen provided an initial investment of $2.1 billion into USCL from assets it had previously invested in the iShares ESG MSCI USA Leaders ETF.
“BlackRock’s product lineup is designed to offer clients investment choices and is built with an understanding of their objectives and evolving investment needs,” says Rachel Aguirre, Head of US iShares Product at BlackRock.
USCL seeks to track an MSCI index composed of U.S. large- and mid-capitalization companies in the top 50% of each sector based on their current emissions intensity, emissions reduction targets, green business revenue, and/or climate risk management, as calculated by MSCI.
SUSL, launched in 2019 with an initial investment from Ilmarinen, has more than $1 billion in AUM and provides clients access to large- and mid-cap U.S. stocks that are rated higher relative to sector peers in environmental, social and governance factors.