Alternative Investments/ESG: In A World First, Evolve Offers Investments In Major Indices Sans Carbon Footprints

https://dailyalts.com/wp-content/uploads/2021/05/assistance-990332_640.jpg

Evolve launches two new ETFs providing a clean beta solution to investing in the S&P/TSX 60 and the S&P 500 indices.

Evolve Funds Group has filed the final prospectus for its launch of the world’s first ETFs that bring carbon neutrality to traditional indices. The Evolve CleanBeta series of ETFs will flag off with the Evolve S&P/TSX 60 CleanBeta Fund (SIXT) and the Evolve S&P 500 CleanBeta Fund (FIVE). (CISION Canada)

Evolve S&P/TSX 60 CleanBeta Fund (SIXT) and the Evolve S&P 500 CleanBeta Fund (FIVE)

The two new ETFs are likely to begin trading on the TSE on Monday, May 10, subject to approvals. The funds aim to generate long-term capital growth by replicating, net of fees and expenses, the performance of the S&P/TSX 60 Index and S&P 500 Index, respectively, while offsetting the carbon footprint of the constituent securities in the portfolio.

“We’ve observed a number of challenges related to ESG investing adoption,” says Raj Lala, President and CEO at Evolve in a statement. “From inconsistent screening methodologies to a narrowing of the investable universe resulting in a change of the overall return profile. We think CleanBeta helps solve many of these issues by providing investors with a simple solution to make traditional indices carbon neutral.”

Carbon neutrality

The S&P/TSX 60 Index is a portfolio index of the large-cap market segment of the Canadian equity market. Meanwhile, the S&P 500® is widely regarded as the best single gauge of large-cap U.S. equities.

To remove the carbon component in the above portfolios, Evolve will use data and analysis provided by Trucost, a division of S&P Global, to determine the carbon exposure of the companies in the indices.

The two ETFs will then use various strategies to neutralize the full carbon footprints of these companies. These strategies could include purchasing and retiring carbon credits.

Related Story:  VanEck’s Vectors Global Clean Energy ETF Soon To Debut On ASX

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Shape

Latest Alternative Investment News

https://dailyalts.com/wp-content/uploads/2021/11/4081910779_73d2c39615_c.jpg
FinTech: New Players In BNPL, And Down Under, Stocks Are Hammered
November 29, 2021     FinTech, News

Afterpay enters subscriptions market, Monzo’s Pay Later, Suncorp hops onto the BNPL bandwagon, and BNPL stocks get clobbered in Australia

https://dailyalts.com/wp-content/uploads/2021/11/Metaverse-Grayscale.jpg
Digital Assets: Grayscale’s Report Paints The Metaverse As The Next Emerging Market Investment Frontier
November 29, 2021     Digital Assets, News

A report issued by Grayscale Research, a unit of Grayscale Investments, the largest digital asset manager in the world, describes the Metaverse as a potential market opportunity worth over $1…

https://dailyalts.com/wp-content/uploads/2021/11/34129579192_199424d914_c.jpg
Artificial Intelligence: UNESCO Member States Adopt The First Ever Global Agreement On The Ethics Of Artificial Intelligence
November 29, 2021     Artificial Intelligence, News

The first ever global standard on the ethics of artificial intelligence (AI) was adopted by the member states of UNESCO at its General Conference on Tuesday. Audrey Azoulay, director-general of…

https://dailyalts.com/wp-content/uploads/2021/11/DreamSports-Screengrab.jpg
Venture Capital: Indian Fantasy Gaming Group Dream Sports Raises $840M
November 29, 2021     Latest News, News, Venture Capital

Dream Sports announced last week its raise of $840 million from investors led by Falcon Edge, DST Global, D1 Capital, Redbird Capital and Tiger Global, with the transaction valuing the…