Purpose Investments today launched the HANetf S&P Global Clean Energy Select HANzero UCITS ETF, a European exchange-traded fund incorporating carbon offsetting. The fund, now trading on the London Stock Exchange and the Deutsche Boerse under the ticker ZERO, is available through Purpose’s partnership with HANetf, an independent European ETF specialist.
The fund tracks the S&P Global Clean Energy Select Index and offers access to 30 companies in biofuel, fuel cell technology, geothermal energy, hydroelectricity, solar, and wind. It has been passported for sale across Europe.
“Climate change is one of the greatest challenges humanity will face in the 21st century, but with challenge comes opportunity—particularly for businesses on the leading edge of innovation where the imperative of solving critical problems is most acute,” Purpose Investments founder and CEO Som Seif said. “This is the case with clean energy, where delivering solutions at scale is the key to enabling a successful global strategy. We believe this represents a tremendous long-term opportunity for investors and are excited to partner with HANetf to deliver it.”
The new fund uses data from the S&P Dow Jones Index’s Carbon-to-Value-Invested figure to calculate a daily accrual, which then is offset with auditable and certificated climate-positive projects linked to the UN’s Sustainable Development Goals and selected with carbon offset specialist South Pole. Projects will be held to International Carbon Reduction and Offset Alliance standards. Associated costs will be taken from the fund total expense ratio and won’t impact performance. This means investors will not pay extra for carbon offsets, the company vowed.
“You shouldn’t have to sacrifice long-term capital growth for socially responsible investing. This fund’s carbon offsetting innovation proves this point, making the responsible choice an easy choice for investors,” Seif said.
This launch follows the debut of Purpose’s Global Climate Opportunities Fund on April 27.
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