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Aviva Investors sets up fund to address climate change

Aviva Investors Global Services Ltd. launched the Aviva Investors Climate Transition European Equity Fund with €100 million in seed capital from AVIVA France SA.

The fund is designed to support the shift to a low-carbon economy amid rising global temperatures caused by climate change. It will be managed by portfolio manager Francoise Cespedes alongside senior global responsible investment analyst and climate change specialist Rick Stathers.

The fund will invest in companies that derive material revenues from goods and services that mitigate or adapt to climate change, as well as in companies with business models aligned with a warmer, low-carbon world. It will not invest in stocks exposed to coal, unconventional fossil fuels, Arctic oil and gas production or thermal coal electricity generation, while limiting exposure to those producing oil and gas or gas-fired power generation, according to a news release.

Aviva Investors is the global asset management arm of Aviva PLC.