The launch of the first equity global index series that will exclude companies linked to exploration, ownership or extraction of carbon-based fossil fuel reserves will provide a new investment tool allowing climate-conscious investors to match their investment strategy and financial interests with their values.
Launched by the FTSE Group, Natural Resources Defense Council (NRDC) and BlackRock, the FTSE Developed ex-Fossil Fuels Index Series is an innovative set of benchmark indices that excludes companies directly engaged in extracting so-called “stranded assets” in the hydrocarbons industry.
The ground-breaking series is the first to implement total exclusion of fossil fuel linked stocks so that these enterprises are removed entirely from the constituency. The global benchmark includes over 2,000 securities across 25 countries.
“FTSE is delighted to work with BlackRock and NRDC on this ground-breaking index series,” said Mark Makepeace, CEO of FTSE Group. “We are increasingly seeing demand from our clients for indices that reflect their overall business culture and values. Innovation is at the core of all our products and we are pleased to develop this global benchmark to implement total exclusion of companies linked to this theme.”
The well-diversified and low-cost stock market index solution provides a landmark opportunity for investors to responsibly divest from passive investments that indirectly expose them to fossil fuel producers. NRDC worked closely with FTSE to develop a comprehensive and transparent screening methodology to exclude companies that have proven and probable reserves or revenue from exploration and extraction of fossil fuels.
Demonstrating market demand for the strategy is expected to spur competition in creating comparable products and lead to new opportunities for individual investors to access similar investment strategies.
Christiana Figueres, Executive Secretary of the UN Framework Convention on Climate Change (UNFCCC) commented:
“Institutions across the world are rightfully reconsidering investments that directly threaten our climate and thus our economies.”
“The divestment index provides these institutions with yet another potentially powerful tool to align their investments with their missions. Its launch could not be more timely, in the lead up to the 2015 climate change agreement, that can and should delineate the path toward a more just and sustainable future.”
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