UBS GAM launches new low CO2 emissions ETF on Xetra
UBS Global Asset Management (UBS GAM) has launched the UBS (Irl) ETF plc - MSCI World Socially Responsible UCITS ETF (USD) A-acc n Xetra and Börse Frankfurt.
The new fund gives investors access to a global selection of stocks from 23 industry sectors. Based on the MSCI World Index, companies with a high ESG rating are selected. However, companies with significant business activities in the areas of nuclear energy, tobacco, coal from power plants, alcohol, gambling, weapons and genetically modified organisms are excluded.
In addition, the companies are measured on the basis of their carbon footprint, whereby a reduction of 50 per cent compared to the MSCI World Index is targeted. The weighting of a stock is limited to a maximum of five per cent.