Fidelity Climate Action Fund
FCAEX
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- Fidelity Climate Action Fund (FCAEX) is an actively managed mutual fund offered by Fidelity Investments that seeks long-term capital appreciation by investing primarily in companies demonstrating strong environmental sustainability practices and alignment with global climate goals. The fund's core offerings include equity securities of U.S. and international companies across sectors such as renewable energy, clean technology, sustainable transportation, energy efficiency solutions, and low-carbon materials; it employs a proprietary climate impact scoring system to select holdings that contribute to greenhouse gas reduction, biodiversity preservation, and resource conservation while maintaining financial performance. The portfolio targets large-, mid-, and small-cap stocks, with allocations emphasizing themes like electrification, circular economy principles, and climate-resilient agriculture, complemented by limited exposure to fixed-income instruments and derivatives for risk management. Fidelity Investments, the fund's sponsor and manager, founded in 1946 and headquartered in Boston, Massachusetts, operates globally across North America, Europe, Asia-Pacific, and other regions, serving institutional and retail investors focused on sustainable finance. The fund integrates environmental, social, and governance (ESG) criteria through Fidelity's research platform, excluding companies with significant involvement in fossil fuels, tobacco, or controversial weapons, and prioritizing those advancing United Nations Sustainable Development Goals related to climate action. Recent developments include the fund's expansion of its climate engagement strategy in 2024, featuring intensified shareholder activism with portfolio companies to accelerate net-zero transitions; a strategic partnership with third-party climate data providers to enhance impact measurement; and a 2025 portfolio rebalancing that increased allocations to emerging green hydrogen and carbon capture technologies amid rising regulatory pressures like the U.S. Inflation Reduction Act extensions. No major acquisitions, funding rounds, or name changes have occurred in the past two years, though Fidelity Investments underwent a broader sustainability platform upgrade, integrating AI-driven ESG analytics firm-wide to support funds like FCAEX.