BELGIUM - Belgian-based Dexia Sustainable, the flagship SRI fund managed by Dexia Asset Management, has been awarded an Austrian green funds label for its 10 SRI sub-funds registered for sale in Austria.
This is the first time an SRI fund has been awarded this “quality label”, (the Umweltzeichen fur Grune Fonds UZ 49), in Austria.
To obtain the green funds “label”, investment funds must follow strict guidelines in the asset selection of the portfolios, including the respect of social, ethical and environmental criteria.
Dexia Sustainable’s sub-funds offer sustainable investment alternatives to traditional management in all asset classes, equity, bonds and mixed, and across various geographical areas. The fund is registered for distribution in nine countries.
Martha Oberndorfer (pictured), member of the board at Kommunalkredit Dexia Asset Management AG – a joint venture between the Austrian Bank Kommunalkredit Austria AG and Dexia AM – said Dexia AM was an SRI participant of the “first hour”.
The firm received an Environmental Management and Accounting Scheme (EMAS) certificate in the 1990s.
“We were a first mover in the field of banking and sustainability,” Oberndorfer said.
“When we got to know this eco-label would be available for funds in Austria we really made an effort to be the first in the market.”
Dexia AM manages e3.2bn in SRI assets and some e67bn in total. The firm has management centres in Brussels, Luxembourg and Paris and commercial teams throughout continental Europe.
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