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Good news for those worried about the planet's water supply: There's a new way to invest in it.
Fidelity has launched the Fidelity Funds 2 Blue Transition Bond Fund, which the company says is the first "blue transition" fixed-income fund to launch globally, Bloomberg reports.
The fund will invest in both global bonds or bonds of issuers that contribute to ocean and freshwater objectives aligned with one or more United Nations objectives, such as improving management of water-related risks and opportunities, and reducing the negative impact of climate change on the ocean or freshwater.
"There aren't many blue bond funds out there, and so issuers who would naturally lend themselves to issuing a blue bond, such as water companies or companies who design specific engineering solutions for water, will issue green-labelled bonds instead so they can sell them into a green fund," a Fidelity spokesman says.
"For the green bonds we invest in, at least 20% of the use of proceeds must be invested into blue projects," he adds.
Selected Grant News Headlines
A customized collection of grant news from foundations and the federal government from around the Web.
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Good news for those worried about the planet's water supply: There's a new way to invest in it. Fidelity has launched the Fidelity Funds 2 Blue Transition Bond Fund, which the company says is the...more
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Spotlight
New Age of Philanthropy: #GivingTuesday
A part of a series produced by The Huffington Post in celebration of #GivingTuesday, which will take place this year on December 3, Kathy Calvin and Henry Timms vouch that we are living in a new era of philanthropy.
