Bloomberg and Rockefeller Asset Management have launched the Bloomberg Rockefeller U.S. All Cap Multi-Factor ESG Improvers Index.

The index ranks a company’s improvement in performance on material ESG issues relative to industry peers and uses Rockefeller’s ESG Improvers Score, a proprietary measure of ESG momentum.

“We believe that investors will increasingly differentiate between ESG leaders and improvers – firms showing the greatest improvement in their ESG footprint,” said Casey Clark, Managing Director and Global Head of ESG Investments at Rockefeller Asset Management. “And that the latter offers a greater potential for generating uncorrelated alpha over the long-term.”

“Institutional investors are focusing now on underlying ESG factors and trends, so we are expanding our index offering to include ESG improvers,” said Alan Campbell, Head of Index Product Management at Bloomberg. “Together with Rockefeller we are providing investors with a product that captures high quality and low volatility companies that exhibit positive ESG momentum.”