New classification ‘better aligns’ the ETF with new regulations
BlackRock is downgrading its flagship sustainable thematic ETF from Article 9 to Article 8 ahead of major changes to Europe’s sustainable fund regulation in January.
The $6bn iShares Global Clean Energy UCITS ETF (INRG) is one of two thematic strategies set to switch from ‘dark green’ to ‘light green’ – alongside the iShares Smart City Infrastructure UCITS ETF (CITY) – from 1 December.
It comes after ETF Stream revealed last week that the asset management giant would be shifting its Paris-aligned benchmark (PAB) and climate transition benchmark (CTB) ETFs, with over €20bn assets under management (AUM), to Article 8 under the Sustainable Finance Disclosure Regulation (SFDR).
In a shareholder notice, BlackRock said:…