ICICI Prudential Mutual Fund has launched ICICI Prudential ESG Fund, an open-ended equity scheme which encourages sustainable investing, by investing in companies which follow environmental, social and governance (ESG) theme.
In a press release, Nimesh Shah, MD & CEO, ICICI Prudential AMC said, “ESG investing is synonymous with sustainable investing. In the coming years, ESG way of investing will be a new normal in India as most millennial and young population in India are more conscious while making an investment decision. Majority of studies highlights that companies with good ESG scores tick-off most of the check-boxes for investing, tends to mitigate environmental & social risks and have stronger cash flows, lower borrowing costs and durable returns.”
Shah further added that ESG focused companies show better growth and demonstrate better resilience in downturns.
Mrinal Singh, Deputy CIO- Equities will manage this scheme.
