AllianceBernstein, the global investment firm with $623bn in AuM, today announced it has been awarded the accolade of the LuxFLAG ESG label on the AB Sustainable Global Thematic Credit portfolio.
The label has been re-awarded to two other funds, the AB Sustainable Global Thematic Portfolio and the AB Sustainable US Thematic Portfolio. The AB Sustainable US Thematic Portfolio was also launched as an OEIC fund earlier in the year.
The LuxFLAG ESG Label is awarded by an independent certification body to funds which meet a set of predefined eligibility criteria, reviewed during an external audit process by industry experts and analysts.
This is a token of their solid ESG integration into the investment process as well as an acknowledgement of the transparency to investors, a feature we hold dear at LuxFLAG."
Created by seven private and public founding partners, including the European Investment Bank and the Government of Luxembourg, it aims to promote sustainable investing in the financial industry in Luxembourg and across Europe.
The LuxFLAG Labels are recognized for their high standards and rigorous assessment of applicant investment Vehicles' investment holdings, strategy and procedures with respect to ESG matters as well as an affirmation of their transparency to investors, allowing clarity for investors that labelled investment vehicles meet their high standards.
The AB Sustainable Global Thematic Credit Portfolio, AB Sustainable Global Thematic Portfolio and the AB Sustainable US Thematic Portfolio invest solely in companies that contribute to the achievement of the United Nations Sustainable Development Goals (SDGs). Each holding must contribute directly to the achievement of at least one SDG as well as pass a thorough analysis of their environmental, social and governance practices.
"The covid-19 crisis has increased the importance of sustainable investing. Many of this year's developments are likely to favor trends driving sustainable investing, such as healthcare innovation, broadening healthcare access, economic empowerment, knowledge sharing and communication, and even things like resource efficiency. Those are all things that were already important before the crisis, and I believe they're only going to prove even more important as we exit," commented Dan Roarty, CIO of Sustainable Equities and portfolio manager.
"We are delighted to have the LuxFLAG label on all of our Sustainable products which further highlights our deep commitment to sustainable and responsible investing."
Sachin Vankalas, director-general of LuxFLAG, added, "We are pleased announce that three applicant funds managed by AllianceBernstein have been granted the use of LuxFLAG ESG Label. This is a token of their solid ESG integration into the investment process as well as an acknowledgement of the transparency to investors, a feature we hold dear at LuxFLAG."