HSBC GAM launches UK Sustainable Equity UCITS ETF
HSBC Global Asset Management (HSBC GAM) has launched HSBC UK Sustainable Equity UCITS ETF on the London Stock Exchange (LSE).
Offering a cost-efficient solution to invest in UK equities, the fund is the first UK sustainable equity ETF with a reduced carbon target. It is benchmarked against the customised FTSE UK ESG Low Carbon Select Net Tax Index, which targets a 20% ESG improvement and a 50% carbon emissions and fossil fuels reserves reduction. The index has an additional 10 per cent~20 per cent underweight to oil & gas in order to reduce exposure to the sector.
Olga De Tapia, Global Head of ETF Sales at HSBC Global Asset Management, says: “We’re pleased to offer our clients the first UK sustainable equity ETF with a reduced carbon target. As the latest addition to our sustainable equity ETF range, it will enable investors to tap into UK companies that are transitioning to a more sustainable future.”