Alliance Bernstein has become one of the first US asset managers to be awarded the Luxflag ESG certification for two of its sustainable investment portfolios.
The Luxflag designation is awarded to investment funds sold in Europe that meet strict sustainable investment criteria. It is only granted after an external audit of the funds by industry experts and independent analysts. It was created by several organisations including the European Investment Bank and the Luxembourg government.
On Wednesday (1 May), Alliance Bernstein announced that the AB Sustainable Global Thematic Portfolio and the AB Sustainable US Thematic Portfolio had been awarded the mark.
“Sustainable investing has become increasingly important as individuals are ever more aware of the impact of their investment decisions,” said Dan Roarty, chief investment officer of sustainable and thematic equities and portfolio manager of both funds.
“The UN’s sustainable development goals target critical areas of importance and by aligning to them we can be assured to be contributing to a wider, global goal,” he added.
Both portfolios invest in companies that contribute to the achievement of the SDGs. Each holding is assessed against a series of environmental, social and governance metrics.
Roarty said the award was testament to the commitment that Alliance Bernstein has shown to sustainable investment practices.
“We are amongst the first US asset managers to have received the ESG label for equity funds, as well as having the only US focused strategy to be awarded the ESG label, which further highlights our deep commitment to sustainable and responsible investing.”
More information on the Luxflag scheme is available here.