Alternative Investments/ESG: The Goldman Sachs Bloomberg Clean Energy Equity ETF Addresses $100T Opportunity
The new ETF (GCLN) is designed for investors interested in owning “clean energy enablers.”
Goldman Sachs Asset Management launched last month the Goldman Sachs Bloomberg Clean Energy Equity ETF (BATS: GCLN). Investors get exposure to the USD100 trillion+, multi-decade clean energy investment opportunity offered by companies with the greatest exposure to the clean energy transition by seizing the secular growth opportunity to combat climate change and provide clean, affordable and reliable energy. (ETF Express)
Goldman Sachs Bloomberg Clean Energy Equity ETF (BATS: GCLN)
This ETF pulls from a universe of 200 companies within the Bloomberg Goldman Sachs Global Clean Energy Index that are both pure-play clean energy companies and transitional companies, and it provides multi-sector and global exposure that provides the potential for lower volatility.
The new ETF is part of a broader climate change-related partnership announced last year by Goldman Sachs CEO David Solomon and Bloomberg founder and majority owner Michael Bloomberg.
The equity index is designed by Goldman Sachs Asset Management and Bloomberg energy sector specialists.
The index is weighted by impact and relevance with a tilting to impact, and because of this weighting, the fund drives capital to companies that have the greatest growth potential within clean energy.
“We continue to believe that the energy transition is going to be a revolution that is one of the great wealth-creating opportunities of the next couple of decades,” said Ms. Koch, who serves as chief investment officer of public equity at Goldman Sachs Asset Management at the media launch event.
“The ETF and its underlying index build on the strength of our partnership with Bloomberg to direct capital and utilise data in the fight against climate change,” Ms. Koch said in a statement.
Related Story: Bloomberg and Goldman Sachs Create New Clean Energy Index
Latest Alternative Investment News
Klarna, the Swedish fintech known for its buy-now-pay-later (BNPL) financial product, is negotiating to raise $650 million at a valuation of $6.5 billion, which is a very sharp comedown from…
Fintech OppZo brings together investors and small businesses that need working capital loans for their government-facing businesses. Typically located in economically stressed areas of the country, these businesses represent an…
The Jacobi Bitcoin ETF, from Jacobi Asset Management, will have a number of firsts to its credit when it starts trading this month. It will be the first exchange-traded equity…
John Deere (NYSE: DE) has achieved leadership in automated machinery powered by Artificial Intelligence (AI). The self-driving tractor pictured above was revealed in CES 2022 and has six pairs of…