Natixis and Groupama Vie, the life insurance subsidiary of Groupama Group, have partnered to launch the first green structured note aimed at supporting energy transition.
Issued by Natixis, Porphyre Climat Septembre 2019 will be offered via Groupama Vie's insurance policies through three of its distribution networks.
Natixis said that funds collected will be invested in four different areas which look at tackling climate change, including wind, solar, hydraulic, and biomass projects.
The new product offers the possibility to directly finance energy renewable projects aimed at granting a more environmentally-respectful energy production. The payoff is linked to theEuronext Climate Objective 50 Euro EWD5 index, comprising 50 eurozone stocks selected by their environmental commitment and their ability to offer products and services compatible with a low-carbon economy.
Guillaume Pierron, deputy chief executive of Groupama Gran Vie, said: "Developing our offering of unit-linked securities that give exposure to major climate, biodiversity and social responsibility themes is wholly aligned with the very reason for our group's existence."
"We plan to continue down this route by gradually rounding out our range of green and responsible unit-linked investment solutions."