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Financial Intermediaries
On this website, Financial Intermediaries are investors that qualify as both a Professional Client and a Qualified Investor.
In summary, a person who can both be classified as a professional client under the Markets in Financial Instruments Directive II (2014/65/EU, “MiFID”) and a qualified investor in accordance with the Prospectus Regulation ((EU) 2017/1129) will generally need to meet one or more of the following requirements:
(1) An entity required to be authorised or regulated to operate in the financial markets. The following list includes all authorised entities carrying out the characteristic activities of the entities mentioned, whether authorised by an EEA State or a third country and whether or not authorised by reference to a directive:
(a) a credit institution;
(b) an investment firm;
(c) any other authorised or regulated financial institution;
(d) an insurance company;
(e) a collective investment scheme or the management company of such a scheme;
(f) a pension fund or the management company of a pension fund;
(g) a commodity or commodity derivatives dealer;
(h) a local;
(i) any other institutional investor;
(2) a large undertaking that meets two of the following size requirements on a company basis: (i) a balance sheet total of EUR 20,000,000; (ii) an annual net turnover of EUR 40,000,000; (iii) own funds of EUR 2,000,000;
(3) a national or regional government, a public body that manages public debt, a central bank, an international or supranational institution (such as the World Bank, the IMF, the ECB, the EIB) or another similar international organization;
(4) a natural person resident in an EEA State that permits the authorisation of natural persons as qualified investors, who expressly asks to be treated as a professional client and a qualified investor and who meets at least two of the following criteria: (i) he/she has carried out transactions on securities markets at an average frequency of, at least, 10 per quarter over the previous four quarters before the application, (ii) the size of his/her financial instrument portfolio, defined as including cash deposits and financial instruments exceeds EUR 500.000, (iii) he/she works or has worked for at least one year in the financial sector in a professional position which requires knowledge of securities investment.
Please note that the above summary is provided for information purposes only. If you are uncertain as to whether you can both be classified as a professional client under the Markets in Financial Instruments Directive and classed as a qualified investor under the Prospectus Directive then you should seek independent advice.
Terms and conditions
Please read this page before proceeding, as it explains certain restrictions imposed by law on the distribution of this information and the countries in which our funds are authorised for sale. It is your responsibility to be aware of and to observe all applicable laws and regulations of any relevant jurisdiction.
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The offshore funds described in the following pages are administered and managed by companies within the BlackRock Group and can be marketed in certain jurisdictions only. It is your responsibility to be aware of the applicable laws and regulations of your country of residence. Further information is available in the Prospectus or other constitutional document for each fund.
This does not constitute an offer or solicitation to sell shares in any of the funds referred to on this site, by anyone in any jurisdiction in which such offer, solicitation or distribution would be unlawful or in which the person making such offer or solicitation is not qualified to do so or to anyone to whom it is unlawful to make such offer or solicitation.
Specifically, the funds described are not available for distribution to or investment by US investors. The units/shares will not be registered under the US Securities Act of 1933, as amended (the "Securities Act") and, except in a transaction which does not violate the Securities Act or any other applicable US securities laws (including without limitation any applicable law of any of the States of the USA) may not be directly or indirectly offered or sold in the USA or any of its territories or possessions or areas subject to its jurisdiction or to or for the benefit of a US Person.
The funds described have not been, nor will they be, qualified for distribution to the public in Canada as no prospectus for these funds has been filed with any securities commission or regulatory authority in Canada or any province or territory thereof. This website is not, and under no circumstances is to be construed, as an advertisement or any other step in furtherance of a public offering of shares in Canada. No person resident in Canada for the purposes of the Income Tax Act (Canada) may purchase or accept a transfer of shares in the funds described unless he or she is eligible to do so under applicable Canadian or provincial laws.
Applications to invest in any fund referred to on this site, must only be made on the basis of the offer document relating to the specific investment (e.g. prospectus, simplified prospectus, key investor information document or other applicable terms and conditions).
As a result of money laundering regulations, additional documentation for identification purposes may be required when you make your investment. Details are contained in the relevant Prospectus or other constitutional document.
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BNBV shall have no liability for any data transmission errors such as data loss or damage or alteration of any kind, including, but not limited to, any direct, indirect or consequential damage, arising out of the use of the services provided herein.
Risk Warnings
Capital at risk. The value of investments and the income from them can fall as well as rise and are not guaranteed. Investors may not get back the amount originally invested.
Past performance is not a reliable indicator of current or future results and should not be the sole factor of consideration when selecting a product or strategy.
Changes in the rates of exchange between currencies may cause the value of investments to diminish or increase. Fluctuation may be particularly marked in the case of a higher volatility fund and the value of an investment may fall suddenly and substantially. Levels and basis of taxation may change from time to time.
BlackRock has not considered the suitability of this investment against your individual needs and risk tolerance. The data displayed provides summary information. Investment should be made on the basis of the relevant Prospectus which is available from the manager.
For your protection, telephone calls and/or other electronic communications which result in, or are intended to result in, transactions will be recorded or saved.
Investors should read the offering documents for further details including the risk factors before making an investment.
Please note that while some of the BlackRock funds are "ring-fenced", others form part of a single company and are not. For BlackRock funds that do not have segregated liability status, in the event of a single BlackRock fund being unable to meet liabilities attributable to that BlackRock fund out of the assets attributable to it, the excess may be met out of the assets attributable to the other BlackRock funds within the same company. We refer you to the prospectus or other relevant terms and conditions of each BlackRock fund for further information in this regard.
The views expressed herein do not necessarily reflect the views of BlackRock as a whole or any part thereof, nor do they constitute investment or any other advice.
Any research found on these pages has been procured and may have been acted on by BlackRock for its own purposes.
This site is operated and issued by BNBV which is authorised and regulated by the Autoriteit Financiële Markten («AFM»). You can gain access to the AFM website from the following link: www.afm.nl. BlackRock (Netherlands) B.V. is a company registered in the Netherlands, No. 17068311. Registered Office: Amstelplein 1, 1096 HA, Amsterdam. BlackRock is a trading name of BlackRock (Netherlands) B.V. VAT No 007883250. General enquiries about this website should be sent to EMEAwebmaster@blackrock.com. This email address should not be used for any enquiries relating to investments.
©2024 BlackRock, Inc. All Rights Reserved. BLACKROCK is a trademark of BlackRock, Inc., or its subsidiaries in the United States and elsewhere. All other trademarks are those of their respective owners
WHY CLIMATE TRANSITION AWARE ETFs?
Many companies in higher emitting sectors are undergoing transformations1, and their efforts play a critical role in the process of decarbonisation. Investors looking to access companies invested in the transition to a low-carbon economy can now gain exposure to companies with credible targets while staying close to traditional benchmarks.
Incorporating forward-looking metrics, iShares MSCI Climate Transition Aware ETFs can help investors access companies with credible science-based targets and transition solution providers, without excluding more carbon-intensive sectors.
Through these building blocks, investors can:
- Incorporate forward-looking metrics
Take an investment approach underpinned by Science Based Targets (SBTi). - Access a transparent, sector-neutral strategy
Take a bottom-up approach to company selection, including carbon emissions intensity. - Invest in transition solution providers
Access companies which generate green revenues as defined by MSCI.2
EXPLORE iSHARES CLIMATE TRANSITION AWARE FUND RANGE
iShares offers the largest indexing platform by AUM in Europe3 providing investors with choice to align to their investment objectives.
iShares MSCI Climate Transition Aware ETFs range can help investors access broad building blocks for their portfolio, incorporating forward-looking metrics, while aiming to maintain an exposure to sectors similar to that of traditional market benchmarks.
The iShares Climate Transition Aware ETF range includes the following funds across a variety of different exposures. The ETF range includes:
After applying exclusionary screens, the MSCI Transition Aware Select Indices are constructed from the Parent Index by excluding securities of companies based on the following exclusion criteria:
Forward looking metrics
The indices provide a clearly defined pathway for investors to reduce their portfolio emissions, selecting companies with approved science-based targets (SBTI) to help future-proof business growth.
Green revenues
The indices look at transition solution providers by selecting companies that derive a portion of their revenues from activities with positive environmental impact.
Emissions reductions targets
The indices rank companies with emissions reduction targets within each GICS sector by carbon emissions intensity and selects the top 50%.
With iShares, clients have a partner who can bring together choice across a variety of strategies across global and regional exposures, investor-centric analytics and BlackRock expertise.
Choice
At iShares, we provide investors looking to incorporate sustainability and/or transition-related considerations into their portfolio with choice across the largest indexing AUM in the industry.2 With over US$873B in sustainable and transition AUM in Europe, iShares’ scale provides investors with a vast range of products across asset classes and themes.3
Innovation
We’re constantly innovating to enable our ETFs to expand across the world of investments. iShares innovates for and with its clients – like the Climate Transition Aware range, we work with index providers to develop new strategies and unlock new opportunities for investors.
Expertise
iShares can leverage BlackRock expertise when helping investors consider climate risks and seek to capture opportunities for portfolios. Our team of in-house specialists, including sector specialists and climate scientists, uncovers insights that empower investment decisions.
Video 2:31
INVESTING IN THE LOW-CARBON TRANSITION
As investors navigate the transition to a low-carbon economy, incorporating climate considerations into their portfolios could help mitigate risk and maximize investment opportunities. Listen to EMEA Head of iShares, Manuela Sperandeo to find out more.
FINAL: iShares Climate Transition Aware – launch video
Location: BlackRock Offices
Speaker: Manuela Sperandeo TBC
For Professional Clients and Qualified Investors only
Capital at risk
[Animated Graphic Images] iShares Climate Transition Aware ETFs
Many companies in sectors with higher carbon emissions are undergoing transformations1, and their efforts play a critical role in the process of decarbonisation.
Source: 1Science Based Targets, Accessed as at 19.03.24
Our research shows that 60% of European investors have started shifting their portfolios towards low-carbon transition investing strategies.2
Source: 2BlackRock, Investor market research, as at 31.12.23,
As they think about their portfolios' decarbonisation journey, they are looking for solutions that allow them to stay invested in sectors - like energy - which may have higher emissions today but remain crucial to the transition.2
Source: 2BlackRock , Investor market research, as at 31.12.23,
At iShares, we have launched our new Climate Transition Aware range, which take a simple and transparent to select companies while aiming to maintain an exposure to sectors similar to that of traditional benchmarks. Using forward looking metrics the suite allows investors to get exposure to companies that set credible targets and are embarking on their decarbonisation journey, as well as providers of solutions critical to the transition.
So how do these ETFs work?
This strategy selects companies that meet at least one of the three following selection criteria.
The first selection criteria is that the ETF includes companies with SBTi approved science-based metrics.3
Source: 3Science Based Targets, Accessed as at 19.03.24
The second selection criteria includes transition solution providers by selecting companies that have 20% or more green revenues as defined by MSCI.4
Source: 4MSCI, Climate Data Metrics, as at 31.03.24
And finally, the third criteria, ranks companies with emissions reduction targets by carbon intensity and selects the top 50%.
Through the power of BlackRock’s proprietary research5, global expertise and the largest indexing platform in Europe6, we’re constantly innovating to enable choice and expand the world of investments through ETFs.
Risk Warning: 5There is no guarantee that research capabilities will contribute to a positive investment outcome.
Source: 6Bloomberg, BlackRock, Market Insights, as at 31.03.24,
We can help investors address their challenges, manage risks, and tap into potential opportunities generated by the transition to a low-carbon economy.
BlackRock Transition Investing Platform: Our Transition Investing Platform includes private market funds, transition deals, and public market portfolios whose principal strategy either through portfolio objective or investment selection focuses on preparing for, being aligned to, benefitting from and/or contributing to a low-carbon economy. Some transition investments are portfolio investments in BlackRock private funds, which may also invest in deals that are not transition. Investments presented are made by BlackRock’s funds and are not intended to represent potential direct investment opportunities.
This document is marketing material. Before investing please read the Prospectus and the PRIIPs KID available on www.ishares.com/it, which contain a summary of investors’ rights.
Risk Warnings
Capital at risk. The value of investments and the income from them can fall as well as rise and are not guaranteed. Investors may not get back the amount originally invested.
Past performance is not a reliable indicator of current or future results and should not be the sole factor of consideration when selecting a product or strategy.
Changes in the rates of exchange between currencies may cause the value of investments to diminish or increase. Fluctuation may be particularly marked in the case of a higher volatility fund and the value of an investment may fall suddenly and substantially. Levels and basis of taxation may change from time to time and depend on personal individual circumstances.
Regulatory Information
This material is for distribution to Professional Clients (as defined by the Financial Conduct Authority or MiFID Rules) only and should not be relied upon by any other persons.
This document is marketing material.
In the UK and Non-European Economic Area (EEA) countries: this is issued by BlackRock Advisors (UK) Limited, which is authorised and regulated by the Financial Conduct Authority. Registered office: 12 Throgmorton Avenue, London, EC2N 2DL, Tel: +44 (0)20 7743 3000. Registered in England and Wales No. 00796793. For your protection, calls are usually recorded. Please refer to the Financial Conduct Authority website for a list of authorised activities conducted by BlackRock.
In the European Economic Area (EEA): this is issued by BlackRock (Netherlands) B.V. is authorised and regulated by the Netherlands Authority for the Financial Markets. Registered office Amstelplein 1, 1096 HA, Amsterdam, Tel: 020 – 549 5200, Tel: 31-20-549-5200. Trade Register No. 17068311 For your protection telephone calls are usually recorded.
In Italy: For information on investor rights and how to raise complaints please go to https://www.blackrock.com/corporate/compliance/investor-right available in Italian.
For investors in Switzerland
This document is marketing material.
This document shall be exclusively made available to, and directed at, qualified investors as defined in Article 10 (3) of the CISA of 23 June 2006, as amended, at the exclusion of qualified investors with an opting-out pursuant to Art. 5 (1) of the Swiss Federal Act on Financial Services ("FinSA").
For information on art. 8 / 9 Financial Services Act (FinSA) and on your client segmentation under art. 4 FinSA, please see the following website: www.blackrock.com/finsa.
Any research in this document has been procured and may have been acted on by BlackRock for its own purpose. The results of such research are being made available only incidentally. The views expressed do not constitute investment or any other advice and are subject to change. They do not necessarily reflect the views of any company in the BlackRock Group or any part thereof and no assurances are made as to their accuracy.
This document is for information purposes only and does not constitute an offer or invitation to anyone to invest in any BlackRock funds and has not been prepared in connection with any such offer.
© 2024 BlackRock, Inc. All Rights reserved. BLACKROCK, BLACKROCK SOLUTIONS and iSHARES are trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.
1Science Based Targets, Home, accessed at 19 March 2024.
2MSCI, Climate Data Metrics, as at 31.03.24
3Bloomberg, Figure based on iShares AUM, accessed at 15 May 2024
4Bloomberg, BlackRock Market Insights, accessed at 15 May 2024
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