Lévis, Que.-based Desjardins Group has boosted its socially responsible offerings with the launch of three new mutual funds on Tuesday, including the first Canadian international green bond and clean technology funds.
The introduction of these funds is due to the growing investor demand for socially responsible investing products, Desjardins says.
“Just five years ago, it would have been tough to create the three socially responsible investment funds that Desjardins is launching today,” said Éric Landry, vice president of investment solutions with Desjardins’ wealth-management division, in a statement. “Today, the public has higher expectations when it comes to environmental and social issues and governance. And we’re proud to offer innovative investment solutions that meet the growing demand for ever more sophisticated products.”
In what Desjardins is calling a Canadian first, Desjardins SocieTerra Environmental Bond Fund invests in environmental bonds issued by governments and corporations from all over the world. Mirova, the Paris-based responsible investment division of Natixis Asset Management, is the fund’s manager.
In another Canadian first, through investments in Desjardins SocieTerra Cleantech Fund, investors can finance technologies and solutions that focus on energy efficiency and the environment. The fund’s manager, London-based Impax Asset Management Group PLC, selects global companies with income drawn primarily from clean technology activities including renewable energy, energy efficiency, water treatment, pollution control, waste management, environmental services and sustainable agriculture.
Although these two funds take an international approach to investing, Desjardins SocieTerra American Equity Fund focuses on the U.S. The fund’s manager, New York-based ClearBridge Investments invests in U.S. securities that meet environmental, social and governance (ESG) criteria using a “Best in Class” strategy.
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