Alternative Investments/ESG: Purpose Launches Global Equity ETF With ESG Focus

The new Purpose ETF began trading on the Toronto Stock Exchange with effect from July 12, 2022.

Purpose Investments Inc. has launched the Black Diamond Impact Core Equity Fund (TSX: BDIC), an ETF offering diverse exposure across equity securities of companies all around the world that demonstrate a forward-looking sensitivity to Environmental, Social, and Governance factors. (GlobeNewswire)

The portfolio managers will analyze governance structures, stakeholder alignment, incentives, and capital allocation as a part of their investing process. The fund is sub-advised by Toronto-based Black Diamond Asset Management, a specialist in sustainable investing.

The fund charges a management fee of 0.95%.

It focuses on companies making positive impacts on the environment with secondary consideration to societal and governance factors. According to Black Diamond, the forward-looking approach ensures the avoidance of companies susceptible to greenwashing such as traditional mining firms that reduce their net climate impact through carbon offsets.

Examples of eligible types of portfolio constituents include firms involved in renewable energy, pollution prevention technologies, carbon offset projects, electric vehicles, ocean plastic removal, and the circular economy, among other sustainable initiatives.

Related Story: Canada’s Purpose Investments To Launch Carbon Neutral Crypto ETFs

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