BlackRock Inc. and Wespath Benefits and Investments launched a low-carbon economy investment strategy, which is aimed at generating long-term competitive financial returns relative to standard performance benchmarks.

The strategy also allows for allocation of capital to companies that are well-prepared to facilitate the global transition to a low-carbon economy.

Brian Deese, global head of BlackRock sustainable investing, said the strategy is designed to boost financial performance and improve "environmental characteristics in our clients' portfolios."

Wespath and BlackRock developed the new investment framework and "transition readiness" methodology to assess a company's core business involvement and natural resource management practices related to the low-carbon transition.