Investment group Alliance Bernstein has been awarded an independent sustainability mark by the French government for two of its funds.
On Wednesday, the fund group announced that its AB Sustainable Global Thematic Portfolio and AB Sustainable US Thematic Portfolio funds has been awarded the Label ISR by the French Finance Ministry.
The French government awards the accolade to highlight SRI products with savers across France and Europe. To qualify, fund managers must be able to demonstrate the positive effects of their products on the development of a sustainable economy.
“During our discussions with partners and clients, especially unit linked programmes at insurance companies, the need for thoroughly vetted sustainable investment portfolios became clear,” explained Olivier Herson, Alliance Bernstein’s vice president of retail and institutional sales, France.
“Our Label ISR-approved portfolios meet this demand, especially within US equities where only two other funds have received this accolade.”
Herson explained that Alliance Bernstein has integrated ESG throughout its investment process at the company.
“Our Sustainable Thematic portfolios go further by offering the opportunity to invest solely on companies that contribute to the achievement of the United Nations Sustainable Development Goals,” he added.
Alliance Bernstein manages some $547bn in assets worldwide, with clients in the institutional, retail and wealth markets globally.
Dan Roarty, chief investment officer of sustainable and thematic equities, and portfolio manager of the endorsed funds said: “Our strategy aligns exclusively with the UNSDGs, which offer a comprehensive definition of sustainability and also highlight significant areas of opportunity for private sector companies.
“Each holding must contribute directly to the achievement of at least one UNSDG as well as pass a thorough analysis of their environmental, social and governance practices.”