iShares Low Carbon ETF Gets UN Backing, Seeks Institutional Buyers

BlackRock introduced the iShares MSCI ACWI Low Carbon Target ETF (CRBN) as a result of institutional demand and U.N. backing, said Ravi Goutam, Managing Director at BlackRock. Goutam added that the fund was seeded by the United Nations Joint Staff Pension Fund and now has over $140 million in assets in less than 2 weeks on the market. The CRBN overweights shares of companies that have low-carbon emissions relative to their market value. He said the portfolio is diversified across both sectors and countries, noting that energy companies are included in the fund as long as they maintain a relatively low carbon footprint.