Blackrock sees record launch for ESG ETF

A new carbon transition exchange traded fund launched by Blackrock has seen record inflows for a new ETF.

The Blackrock US Carbon Transition Readiness fund saw $1.25bn in inflows last week. Blackrock also launched a non-US version which saw inflows of $475m.

The US fund is based on the Russell 1000 and allocates portfolio weightings based on a carbon transition readiness score that reflects reliance on energy production and clean technology, with a higher forecast rate of carbon reduction will result in a company being overweighted. The data comes from BlackRock Aladdin and MSCI, Sustainalytics and Refinitiv.