ESG score is available for 300 clones and the mean value is 8.38. The score changes according to the reference category: stocks at the top (average ESG score of 8.66) followed by bonds and thematic (average ESG score of 8.27 and 7.60, respectively). Among the management houses, Amundi Etf
The average ESG score for sustainable ETFs is 8.38, of which Equity ETFs beat bonds and thematic ETFs. The results appear from the analysis of the ETF Sri curve marketed on the Borsa Italiana and found in Atlante. The SRI analysis platform developed by ETicaNews in collaboration with MoneyMate.
The indicator used in the analysis isEsg quality results elaborated by Msci, which measures a product’s ability to manage risks and opportunities arising from environmental, social and governance factors. The MSCI score (with a value from a minimum of 0 to a maximum of 10) is allocated to all funds and ETFs, with or without an explicit SRI or ESG mandate, and is treated on the analysis of the underlying for each fund. . If the update of the underlying is not sufficient, Msci will not assign the score.
Today’s in-depth analysis took into account over 300 ETFs divided into the three categories already analyzed individually in previous analyzes: ETF Sri Azionari, ETF Sri Obbligazionari and ETF Sri Tematici.
SCORE ESG AND SRI ETF CATEGORIES
As expected, the average score changes according to the benchmark asset class and the stock ETFs lead the rankings followed by bonds and thematic.
With regard to Etf Sri EquitiesESG scores are available for 169 funds and range from a minimum of 2.57 to a maximum of 10, with a average value of 8.66. There are 20 asset management companies that have at least one fund with a valued ESG Score.
Among Etf Ribbon The ESG score varies from a minimum of 1.91 to a maximum of 10, with one average value of 8.27 out of 83 funds. Within the category, analyzes have been carried out on 17 management houses.
Finally, the ETFs Thematic they are characterized by a minimum ESG score of 4.20, well above the previous categories. However, the average rating of Esg quality is lower than the others (average value corresponding to 7.60 out of 49 funds). In this case, the issuing companies are thirteen. All data related to ESG score is updated to April 2022.
In general, this is a good score for all ETF categories: just keep in mind that by translating the ESG score to the MSCI ESG rating, starting from the value 7.1, the rating is AA, while from the threshold of 8.6 you enter yourself in AAA. evaluation.
Below is a graph showing the distribution of ESG scores by category.
Source: ETicaNews elaboration of the Atlante.SRI database and MSCI Score Esg (data from April 2022).
SCORE ESG AND SFDR
The analysis of the ESG score for sustainable ETFs marketed on the Borsa Italiana in relation to the classification under Regulation 2088 (Sfdr) shows that Article 9 for each analyzed category has an average value slightly higher than the provisions of Article 8.
Furthermore, it differs how the minimum value of ESG scores is very different between Articles 8 and 9. For the latter, the value in the case of Sri Thematic ETFs is equal to 6.23, for Equity ETFs it is 5, 88 and for the Sri Bond ETFs are 5.65, values that clearly differ from the minimum score found among the Article 8 funds (4.20 for thematic, 2.57 for equities and 1.91 for bonds, respectively).
SCORE ESG AND ASSET MANAGER
The analysis also focused on the management companies ‘average ESG scores (calculated as the average of the individual departments’ ESG scores regardless of which category they belong to) and involved 23 different companies. Among these, they stand out Amundi Etf (Average Esg score equal to 9.10 with 28 clones *), Bnp Paribas Asset Management (Average Esg score equal to 8.82 with 32 clones) e Ubs Asset Management (Average Esg score equals 8.67 with 40 clones).
*The data shown has been updated to April 2022 and does not take into account the Lyxor Etf branches, as Amundi became the management company for all the funds managed by Lyxor International Asset Management from 1 June 2022.