BNP Paribas Asset Management has launched a green bond fund to tap the transition to a low carbon economy, Citywire Selector can reveal.
The Parvest Green Bond fund will be managed Arnaud-Guilhem Lamy, who is a member of BNP Paribas AM’s euro sovereign and aggregate investment team.
He currently oversees four funds at the French group including the Parvest Sustainable Bond Euro fund, which he has managed since March 2013.
Lamy will be supported by analysis undertaken by BNP Paribas AM’s sustainability research team, with senior analyst Felipe Gordillo responsible for green bond analysis.
BNP Paribas AM currently manages more than €25 billion in SRI strategies, which includes almost €500 million in green bonds. The firm has been involved in sustainable and responsible investing since 2002.
Commenting on the launch, a spokesperson for BNP Paribas AM said: 'Green bonds are issued to finance projects designed to address climate change and the market has undergone rapid expansion in recent years.
'Further growth is likely as estimates suggests that between now and 2030, around $4 trillion will be required annually to support the transition towards a low-carbon economy, with green bonds ideally suited to provide this financing.'
The fund is domicled in Luxembourg. It will be available for sale in Austria, Belgium, France, Germany, Italy, Netherlands and the UK after registration.