BlackRock, FTSE and NRDC launch new fossil-free index

The major fund manager BlackRock and the index provider FTSE Group have teamed up with US Natural Resources Defense Council to launch the FTSE Developed ex-Fossil Fuels Index Series, the first equity global index series specifically excluding companies that have “proven and probable reserves or revenue from exploration and extraction of fossil fuels”.
According to press statement released on Tuesday (April, 29), the new tool creates opportunity for investors to responsibly divest from assets that indirectly expose them to fossil fuel producers and it “will allow climate-conscious investors to match their investment strategy and financial interests with their values”.
The move that signed the entrance of the global fossil fuels divestment campaign in the financial mainstream and follows the concept of “carbon stranded assets” pioneered by Carbon Tracker Initiative was welcomed by several sources, including the Executive Secretary of UNFCCC Christiana Figueres. “Institutions across the world are rightfully reconsidering investments that directly threaten our climate and thus our economies,” she said in a statement reported by NRDC. “The divestment index provides these institutions with yet another potentially powerful tool to align their investments with their missions. Its launch could not be  more timely, in the lead up to the 2015 climate change agreement, that can and should delineate the path toward a more just and sustainable future”.