Global X Funds, the New York-based provider of exchange-traded funds, has launched the first lithium ETF. 

This is the first ETF to offer investors targeted access to a resource industry critical for the renewable energy and green movement.

"The Global X Lithium ETF is an efficient way to invest in what we refer to as a 'green' commodity because of its direct correlation to the renewable energy market such as electric cars and energy storage," says Bruno del Ama, chief executive of Global X Funds.

The ETF tracks the Solactive Global Lithium Index, which is designed to reflect performance of the largest and most liquid lithium battery producing and mining and refining companies in the world. 

As of 13 July 2010, the three largest components of the ETF are lithium producers SQM from Chile and FMC and Rockwood Holdings from the US.

The basket of lithium-related equities will give investors access to the complete lithium value chain, from mining and refining through lithium battery production. As of 13 July, 51 per cent of the index includes lithium battery manufacturers, while 49 per cent of the index consists of lithium mining and refining companies.