BlackRock Canada adds three new RBC iShares ESG ETFs

By Marisa Wong

Los Angeles, Feb. 13 – RBC iShares said it is creating more choices for investors looking to invest sustainably by adding three fossil fuel-screened exchange-traded funds to be managed by BlackRock Asset Management Canada Ltd., an indirect wholly owned subsidiary of BlackRock, Inc.

BlackRock Canada has filed a preliminary prospectus for three new iShares “Advanced” ESG ETFs: the iShares ESG MSCI Canada Advanced Index ETF, the iShares ESG MSCI USA Advanced Index ETF and the iShares ESG MSCI EAFE Advanced Index ETF.

Each ETF will seek to provide long-term capital growth by replicating, to the extent possible, the performance, net of expenses, of an ESG-oriented index selected at the discretion of BlackRock Canada, according to a press release.

The current index methodology requires constituent issuers to meet minimum ESG score requirements and will exclude issuers with material involvement in a range of businesses with elevated ESG risks, including fossil fuels, palm oil, for-profit prisons, controversial weapons, nuclear weapons, civilian firearms and tobacco, among others.

BlackRock is an investment management firm based in New York.

RBC Global Asset Management is the asset management division of Royal Bank of Canada.

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