Alternative Investments/ESG: VanEck Launches “Green Infrastructure” Equity ETF
Tax incentives on domestic clean energy projects through the Inflation Reduction Act, combined with the allocations in the Infrastructure Investment and Jobs Act account for over half a trillion dollars in new climate action and related infrastructure project spending.
VanEck, an asset manager with $60.8 billion under management, announced the launch of of VanEck Green Infrastructure ETF (NASDAQ: RNEW), an equity ETF offering exposure to companies that would address the huge opportunity in making U.S. infrastructure more “green” and sustainable. (Yahoo Finance)
VanEck Green Infrastructure ETF (NASDAQ: RNEW)
RNEW is targeted at diversified exposure to the major expenditure needed, and already in motion, to upgrade current US infrastructure sustainably.
The ETF will track the Indxx US Green Infrastructure – MCAP Weighted Index which is designed to offer exposure to a diversified portfolio of U.S. companies with revenues primarily generated from sustainable infrastructure businesses across a handful of key themes and sub-themes: environmental waste (including pollution control and waste management), building (including green constructions), and green energy and transportation (green energy and fuel, green transportation, and green infrastructure and equipment).
The TER of the ETF is 0.45%.
“The state of the U.S.’s infrastructure is in need of renewal and an upgrade in order to support a growing population and the goals of environmental sustainability and climate resiliency. In fact, the American Society of Civil Engineers gave the U.S. a C- grade for its overall infrastructure in 2021, with sub-sectors including energy, hazardous waste and transit all earning D+ grades or worse,” said Michael Cohick, Director of Product Management with VanEck. “Fortunately, government initiatives and private sector innovations are providing potential opportunities for investors to participate in this long-term trend.”
Related Story: VanEck Australia Launches Global Carbon Credits ETF
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