April 16, 2019 / News

Bluefield fund achieves first with green award

By Joe McGrath, ESG Clarity

The Bluefield Solar Income Fund has been recognised for its alignment to targets set by the UN’s Intergovernmental Panel on Climate Change

Bluefield fund achieves first with green award

An investment fund advised by Bluefield Partners has become the first London-listed fund to be awarded the Green Fund designation by Guernsey’s Financial Services Commission.

The Bluefield Solar Income Fund was awarded the Guernsey Green Fund mark in recognition of its objectives being aligned to the targets set by the UN’s Intergovernmental Panel on Climate Change.

It holds more than 80 UK-based solar holdings, targeting long-life solar energy infrastructure assets, expected to generate energy output over a 25-year lifespan.

“The rationale of the Guernsey Green Fund rules is to provide a trusted and transparent platform to give investors confidence in green products,” said Andy Sloan, chair of Guernsey Green Finance.

“We are therefore delighted that Bluefield Solar has committed to supporting this strategic goal by obtaining Guernsey Green Fund status.”

Bluefield Solar Income was judged to meet the necessary accreditation criteria, with more than 75 per cent of assets meeting the Guernsey Green Fund rules (see here). The fund also has an explicit objective to mitigate environmental damage.

“ESG issues are of increasing importance to investors,” explained Bluefield Partners’ James Armstrong. “As we witness the growth in environmental-themed funds, it is vital that investors are able to easily, and transparently, see a fund’s green credentials.

“We expect the Guernsey Green Accreditation criteria will help investors make informed decisions about a fund’s environmental impact, set against a globally recognised standard.”

Fund administration director Kevin Smith, added: “The Guernsey Green Fund presents a significant opportunity for environment-focused funds and for Guernsey as a leading specialist funds jurisdiction.”