Research from international non-profit CDP and ISS ESG, the responsible investment arm of Institutional Shareholder Services, has revealed the top ten actively-managed European equity funds with regard to climate performance.
The ranking is based on data from the climate rating for funds, Climetrics, which measures the climate performance of a fund's stocks, its asset manager's governance of climate issues and its investment policy.
French asset managers dominate the list, which was whittled down from hundreds of funds in the European equity category, as BNP Paribas Asset Management, Candriam and Mirova each saw two of their funds make the list.
Head of climetrics at CDP Nico Fettes said: "Greater transparency in the fund industry is important for helping to move capital towards sustainable investments and to achieve the goals of the Paris Agreement.
"Climetrics' aim is to give investors confidence in their investments, and these awards recognise that certain funds represent a more progressive approach in lowering long-term risks from climate change"
Head of ISS-climate Maximilian Horster added: "Policy makers, civil society, and investors are collectively asking for more climate transparency of investment funds.
"The Climetrics rating assesses and awards funds that invest in companies that have made tangible commitments to align their business models with targets set forth under the Paris Accords."