BLK BlackRock Inc

By Dieter Holger

Spain's CaixaBank SA is partnering with BlackRock Inc. to bring more impact investing to the bank as it readies a new range of sustainability-focused investment and pension funds.

The Valencia, Spain-based bank said Tuesday that its upcoming funds will be listed as Article 9, the highest sustainability rank of the European Union's new Sustainable Finance Disclosure Regulation.

"As with many other regulatory changes, we want to take the lead and not only propose regulatory compliance, but be a transcendent agent of the asset-management industry as a player committed to sustainability and its transformative impact," said Victor Allende, director of private banking at CaixaBank.

Impact investing aims to deliver financial returns and positive impacts in society, including toward the United Nations's 17 Sustainable Development Goals such as ending world hunger, providing education and clean energy. This style of investing often targets privately held projects instead of public markets.

Write to Dieter Holger at dieter.holger@wsj.com; @dieterholger

(END) Dow Jones Newswires

June 15, 2021 11:07 ET (15:07 GMT)

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