Home CATEGORIES Environment ICICI Prudential AMC Plants 50,000 Saplings on Behalf of ESG Fund Investors
ICICI Prudential AMC (Asset Management Company) has decided to take the cause of ESG further on behalf of its investors. The company 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.
Going forward, for every new investor who invests in the Fund, the AMC has pledged to plant a sapling on their behalf. The New Fund Offer had received an encouraging response with over 50,000 applications cumulatively worth Rs. 1,457 crores. Since inception (October 09, 2020), ICICI Prudential ESG Fund has delivered 17.88% return.
Under this CSR 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 Programme’s Billion Tree Campaign.
Nimesh Shah, MD & CEO, ICICI Prudential AMC, said, “Through the initiative of planting a sapling on behalf of our investors, we aim to participate in improving the green cover of our country and supporting rural livelihood.”
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.
The saplings planted through this CSR initiative are largely indigenous in nature such that the biodiversity is maintained. The efforts carried out are with an aim to help restore forests, improve wildlife habitats, support rural livelihoods etc., activities which are environmentally friendly and are socially responsible, which ties with the theme of ESG.
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