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ICICI Prudential Mutua Fund and Kotak Mahindra AMC have decided to take the cause of ESG further on behalf of their investors. ICICI Prudential Mutual Fund has contributed to plant over 50,000 saplings, equivalent to the number of investors that opted for investing into ICICI Prudential ESG Fund during the New Fund Offer period. Kotak Mahindra AMC, on 12th January, 2021, became a signatory to Climate Action 100+. In April 2018, KMAMC became the first domestic asset management company to sign up with the PRI (Principles for Responsible Investment) which is supported by the United Nations.

ICCI Pru AMC launched ICICI Prudential ESG Fund in October 2020 and Kotak AMC launched Kotak ESG Opportunities Fund in December 2020. ICICI Prudential ESG Fund has given 16.80% returns since launch and Kotak ESG Opportunities has delivered 2.32% returns since launch.

ICICI Pru AMC has pledged to plant a sapling for every new investor who invests in the Fund going forward. This is a first of its kind initiative in the mutual fund industry. Under this initiative, ICICI Prudential AMC in association with ICICI Foundation and GROW-TREES, planted a sapling at Nainital, Uttarakhand. GROW-TREES is a social enterprise which is the also official partner of the United Nations Environment Program’s Billion Tree Campaign.

Post the plantation, the investors’ have been provided with a certificate issued by GROW-TREES. Each certificate bears a distinct eTreeCertificate number with a geo-tagged location of plantation, thereby allowing investors to locate and track the progress of the sapling planted.

Climate Action 100+, on the other hand is an investor-led initiative to ensure the world’s largest corporate greenhouse gas emitters take necessary action on climate change. Five investor networks including the PRI jointly support the initiative.

These initiatives are part of KMAMC’s broader sustainability and responsible investment strategy to increase awareness, compliance and disclosures on ESG factors and opportunities in the Indian context.The underlying sustainability agenda is that the Indian corporate sector, individually and collectively, take action to reduce greenhouse gas emissions consistent with the Paris Agreement’s goals.

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