Alternative Investments/ESG: Invesco Launches Global Clean Energy ETF In London
The new ETF focuses on companies that are driving innovation in clean energy.
Invesco has launched its Global Clean Energy UCITS ETF on the London Stock Exchange denominated in US dollars (GCLE LN) and pound sterling (GCLX LN). The new thematic ETF is linked to the WilderHill New Energy Global Innovation Index from WilderShares, LLC. The expense ratio of the ETF is 0.60%. (ETF Strategy)
The fund avoids fossil-fuel companies and follows an equally weighted index to invest in companies focused on wind, solar, biofuels, hydro, and other renewable energy sources. It also invests in companies involved in energy conversion, storage, conservation, and efficiency.
Invesco Global Clean Energy UCITS ETF
Commenting on the launch, Gary Buxton, Head of EMEA ETFs at Invesco, said: “The biggest and arguably most urgent challenge facing the world is how to avoid climate catastrophe. The solution hinges on our transition to cleaner sources of energy which is a diverse and rapidly evolving space. That is why we are so excited about offering investors access to the expertise of WilderHill.”
Rob Wilder, Co-Founder of WilderHill, said: “We have seen major fundamental changes to the clean energy space since solar and wind started breaking new ground in the noughties. First of all, the largest economies in the world are now committed to net-zero carbon objectives. Second, and even more significant, we now have economically viable alternatives to fossil fuels. In fact, solar will soon be the lowest-cost source of electricity generation. But it’s more than just solar panels, wind farms, and electric cars. Decarbonization will involve greater innovation, including finding ways to store and use energy more efficiently. And this is all happening now.”
Buxton added: “We are committed to keeping investors at the forefront of ETF innovation and solutions. Tackling the environmental crisis is a key pillar in an ESG strategy, and we will continue bringing to market funds that enable investors to align their investments with their principles. Much more to come in 2021.”
Related Story: Invesco Launches Four Active Non-Transparent ETFs
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