Amalgamated Bank Launches Fossil Fuel Free Portfolio
- Aria offers diversified, turnkey portfolio options that are completely fossil-free
- Enables investors to align their investments with their values and support a cleaner, greener future
We are proud to offer investors this new investment option, enabling them to align their financial decisions with their personal values.
NEW YORK – Amalgamated Bank, America’s socially responsible bank, today announced the launch of Aria, a suite of completely fossil fuel free investment products. Aria is one of the first turnkey fossil-free portfolio options in the marketplace, allowing individuals who care about climate and sustainability to align their financial choices with their personal values. Aria is being offered through Amalgamated Investment Services in collaboration with Infinex Financial Group, which provides the ongoing management of the portfolio whose models are utilized in Aria.
Keith Mestrich, CEO of Amalgamated Bank, commented: “Whether it’s investors and financial institutions examining their stakes in gun manufacturers, or the divestment movement among institutional investors, or the ‘Grab Your Wallet’ campaign – we know that more and more people are paying attention to how they can make an impact with their money and investments. For those who care about climate and sustainability, it has not always been easy, transparent, or even possible to invest while ensuring that one’s money stays out of fossil fuel stocks. This new product grew from this unmet need that we saw and heard about from clients and others in our industry looking for diversified portfolios that also align with their environmental (and other) beliefs.”
Mr. Mestrich continued, “Some investors may be familiar with purchasing one individual fund that is fossil fuel free, but Aria is a true one-stop solution. We wanted to build out a portfolio series that would be rebalanced and monitored to remain in line with the client’s stated risk profile and financial objectives/goals. We are proud to offer investors this new investment option, enabling them to align their financial decisions with their personal values.”
Aria will offer diversified portfolios that seek to spread risk over multiple types of investment managers and asset classes, including actively managed mutual funds, exchange-traded funds (ETFs), and index-based mutual funds. Aria will give investors exposure to US and international equities, and where the opportunity presents will incorporate clean energy investments. The fixed income exposure consists of Green and Community Reinvestment Act Bonds. Investors will have the ability to choose among three risk profiles, from conservative to growth, depending on their financial goals and objectives.
There are exclusionary screens applied to the underlying equity-based mutual funds, resulting in a truly fossil-free portfolio. These screens exclude coal companies, oil/gas companies, and fossil fired utility companies. All of the underlying equity-based mutual funds have been rated five out of five by As You Sow/FossilFreeFunds.org, a non-profit organization that analyzes the climate impact of thousands of mutual funds and ETFs.
Aria will have a $25,000 minimum investment, a much lower investment threshold than what many other institutions require, and investors will have access to Amalgamated Investment Services financial advisors, who are uniquely well-versed in Socially Responsible Investment strategies. Amalgamated Bank wants to make it easier for investors of all sizes to align their investments with their personal values. For those looking to create a cleaner, greener future, Aria can do just that.
About Amalgamated Bank
For nearly a century, Amalgamated Bank has served as America’s socially responsible bank, supporting forward-thinking organizations, companies, and individuals across the country. We are an advocate for those working to make the world more just, compassionate and sustainable. Our extensive experience, financial knowledge and community of like-minded customers offer a unique set of financial tools to customers. Amalgamated is the country’s largest B Corp® bank and a proud member of the Global Alliance for Banking on Values. We don’t just have a mission. We are on a mission: to support those who support others, to invest in progressive and impactful causes and to advocate true financial opportunity for all.
About As You Sow
As You Sow is the nation’s non-profit leader in shareholder advocacy. Founded in 1992, we harness shareholder power to create lasting change that benefits people, planet, and profit.
Investment and insurance products and services are offered through INFINEX INVESTMENTS, INC. Member FINRA/SIPC. Amalgamated Investment Services is a trade name of Amalgamated Bank. Infinex and Amalgamated Bank are not affiliated. Investment products and services made available through Infinex are: not a deposit – not FDIC-insured – not insured by any federal government agency - not guaranteed by the bank.