We'll have more on this and its implications next month.
From Artemis, September 29:
Giant asset manager BlackRock is aiming to raise more than $2.3 billion for its new environmental, social and governance (ESG) investment fund strategy that includes catastrophe bonds as one of its target asset types.
As we were the first to cover back in August, the investment manager is marketing the soon to launch BlackRock ESG Capital Allocation Trust, a closed-end fund strategy focused on equity and debt securities, at least 80% of which will be expected to meet specified environmental, social and governance (ESG) criteria.
The strategy will see BlackRock’s portfolio managers for the ESG fund screen out certain issuers and focus on bonds that are demonstrably ESG appropriate.
This can include where a securities proceeds are going to be used in a green manner, while other allocation criteria will also be used to identify ESG appropriate bonds to invest in.
Different categories of securities are detailed in the BlackRock ESG Capital Allocation Trust prospectus as potentially appropriate for the fund to allocate to, and one of these is event-linked bonds, including catastrophe bonds and certain other securitized ILS or reinsurance instruments.....
....MUCH MORE
