BlackRock Canada announces new fossil fuel-screened strategies, as well as changes to pre-existing ETFs
RBC iShares has updated its menu of sustainable ETFs with three new offerings and changes to its existing ESG ETFs.
“Sustainability is becoming a core component of portfolio construction, as investors increasingly look to enhance how they invest, and build more resilient portfolios for the future,” said Pat Chiefalo, managing director and head of iShares at BlackRock Canada. “Sustainable ETFs have simplified and expanded that opportunity.”
The three new ETFs, listed on the TSX and offered as an “ESG Advanced” suite of products, are based on ESG indices that require their constituents certain minimum overall ESG attributes.
The funds, along with their associated ticker symbols and management fees, include:
The funds’ current ESG indices screen out companies that have material involvement in a range of controversial businesses or sectors including but not limited to fossil fuels, adult entertainment, alcohol, cannabis (applies to XCSR only), gambling, nuclear weapons, civilian firearms, and predatory lending.
RBC iShares is also offering its pre-existing ETFs as an “ESG Aware” product suite, with certain products being renamed accordingly. There have been no changes to the ETFs’ investment objectives or trading symbols.
The ESG Aware ETFs, along with their new names and management fees, are: