Amundi is set to overhaul its Europe energy ETF to swap out fossil fuels in favour of hydrogen fuel companies.

Effective 27 September, the $33m Amundi MSCI Europe Energy UCITS ETF (ANRJ) will go from tracking the MSCI Europe Energy 20/35 index to the Bloomberg Hydrogen ESG index and will be renamed the Amundi Global Hydrogen ESG Screened UCITS ETF to reflect the changes.

The makeover will see ANRJ go from capturing 11 Europe-listed fossil fuel companies to developed and emerging market companies involved in green hydrogen production and related products.

The ETF will incorporate minimum ESG standards and exclude companies involved in for oil and gas, nuclear, thermal coal, tobacco, civilian firearms and controversial weapons.

The ETF’s fee will increase from 0.25% to 0.45%. Amundi has also upgraded ANRJ from Article 6 to Article 8 under the Sustainable Finance Disclosure Regulation (SFDR).