Historical series Itaú Asset’s ESG fund receives contributions from European investors after certification of compliance with SFDR
November 11, 2024 – Itaú Asset Management identified a movement of foreign contributions in its largest ESG fund, Active Fix ESG, reaching R$100 million allocated by insurers with headquarters in Europe.
This result came after the fund obtained the Second Party Opinion (SPO) certification of compliance with the Sustainable Finance Disclosure Regulation (SFDR), which establishes rules to promote greater transparency in the disclosures of sustainable finance products and assets, as well as in the demonstration of application of resources. The SPO was issued by ERM Nint consulting.
“Historically, Brazil has always been a topic of interest for investment in assets with social and environmental impact. New national and international regulatory frameworks, such as the obligation for investors from the European Union to make allocations only to ESG funds in compliance with the EU SFDR regulation, have the potential to promote more transparency and alignment with local regulations,” highlights Alexandre Gazzotti, senior ESG analyst at Itaú Asset. “The fact that they find products aligned with this regulation tends to contribute positively to attracting more resources for investments in Brazil, placing us on the radar of responsible investment portfolios of insurance companies and companies headquartered in the European Union,” says Gazzotti.
Launched in July 2021, Itaú Active Fix ESG brings together professionals from the manager’s credit fund area with the expertise of Itaú Asset’s ESG unit. It directs the allocation of its resources to debts of companies with economic activities directly related to the generation of positive externalities for society and/or the environment. In addition to this differential, the fund can make investments in green or sustainability-linked bonds, when the use of the resources from these emissions is aligned with the United Nations Sustainable Development Goals (SDGs) – Sanitation, Education, Health, Renewable Energy, Waste Management and Green Emissions.