Amundi Says Oil, Gas Crucial to EU’s Clean-Energy Transition

(Bloomberg) — Amundi SA wants the European Union to free asset managers to add oil and gas exposures to a new fund category intended to support the transition to a lower-carbon economy. (…)

Proposals to include oil and gas exposures in transition funds come as companies including BP Plc and Shell Plc wind back earlier commitments to invest in renewable energy. Against that backdrop, some asset owners and managers have been stepping up exclusions of the sector, according to Covalence SA, a Geneva-based ESG ratings company. More…

Source: Bloomberg News