Ethical investment fund rolled out in France
An ethical investment fund run by an environmental NGO is being marketed in France after finding success elsewhere in Europe.The WWF's Living Planet Fund is based in Luxembourg and is also up and running in Germany and Switzerland.
On Tuesday the international NGO announced it would be marketing the fund in France after gaining the approval of the finance watchdog l'Authorité des Marchés Financiers.
The fund invests 200 million euros, including 40% of the WWF's own assets, in companies which meet strict social and environmental criteria.
Established in 2003 the fund claims the company it invests in not only have an admirable environmental performance but are economically savvy too, bringing in growth of over 18% last year alone.
The company that manages the investment, UBS of Zurich, looks at six key areas of interest to WWF before deciding on whether to back a company: fresh water, biodiversity, coasts and oceans, forests, climate change and overseas development.
It also excludes any companies with more than ten per cent of their activities tied up in weapons, alcohol, tobacco, nuclear power or gambling.
A spokesman for WWF France said: "Thanks to the Living Planet Fund the WWF can offer its members and investors a chance to financially influence big business and encourage good environmental behaviour.
"And the more the fund grows, the more it will impact the financial world."
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